Circle’s Arc network is set to open its public mainnet on September 16, but SoSoValue argues it is unlikely to replicate the meme coin surge that followed Robinhood Chain’s launch. The analysis identifies four factors behind Robinhood Chain’s boom: operator revenue from meme trading, an established retail user base, a native token buyback-and-burn mechanism, and a public mempool that enabled bots to front-run and sandwich transactions. Arc instead will be validated by Visa, Mastercard, BlackRock, DTCC, Circle and seven other regulated institutions, while its distribution is aimed at card networks and asset managers. The ARC token has not launched, gas fees are paid in USDC, and Arc has no buyback mechanism. Its public mempool is closed, removing a trading infrastructure used by bots on other networks. Although Arc is EVM-compatible (compatible with Ethereum-based applications) and Uniswap v4 and Aerodrome are scheduled to launch on day one, SoSoValue says any meme rally would be harder to ignite and easier to reverse. The comparison comes as Robinhood Chain’s daily revenue has dropped from a $4 million peak to $1.06 million by the end of last week, an 83% decline linked to easing meme-related congestion, collapsing gas prices and the approaching expiration of a 90-day fee subsidy on September 29. Robinhood CEO Vlad Tenev initially presented tokenized real-world assets as the chain’s focus, but later said the network was also “good for memes, too.” CryptoPotato reported that Robinhood Chain became the largest blockchain by real-world-asset holder count within weeks of its July 1 launch and expanded its UK offering with zero-fee crypto trading in August.