Platforms Arc and HyperEVM attracted over $1.2 billion in stablecoin market capitalization during the week ending September 22, 2026. According to Token Terminal, Arc accounted for $621.5 million of this growth, while HyperEVM added $598.8 million. For comparison, the Avalanche network recorded $128.6 million in growth over the same period.
Circle launched the Arc mainnet on September 16, 2026, with nearly $649 million in USDC deployed. The project secured support from over 100 institutional partners, including BlackRock, Visa, and Mastercard. Arc has already integrated with DeFi protocols Aave and Morpho to facilitate lending and borrowing.
HyperEVM, an EVM-compatible layer within the Hyperliquid ecosystem, has seen its stablecoin supply reach approximately $5.8 billion. The platform previously hit the $1 billion mark on March 20, 2026, marking a 96% increase since February 2026. Hyperliquid originally functioned as a decentralized perpetuals exchange before expanding into broader DeFi services.
Despite the rapid growth in market capitalization, both platforms have yet to release detailed metrics regarding total value locked or daily transfer volumes. Analysts note that raw market cap figures may not fully reflect actual usage levels within these new blockchain infrastructures.
