Arc TVL Reaches $554M, With 72% In One Circle Wrapped Bitcoin

Arc TVL stands at $554 million on DefiLlama as of October 9, 2026, and about $397 million of it is one asset, Circle Wrapped Bitcoin. The coin, cirBTC, makes up 72% of the TVL that DefiLlama counts on Circle's Arc network. Reading the cirBTC contract on Arc directly shows 5,267 coins in circulation there.

CoinGecko's cirBTC page on October 9, with a market cap of $507.2 million and 6,149 coins in circulation.

How Arc TVL got to $554 million

DefiLlama shows almost nothing on Arc before mid-September. TVL read $0.1 million on September 16, then $341 million two days later. It climbed to $506 million by September 26 and has held between $536 million and $560 million since September 30.

Two lending apps carry most of the weight. Morpho Blue holds about $311 million and Aave V4 about $189 million, together roughly 90% of the chain's total. Uniswap V3 adds $34 million and Circle Gateway $12 million.

cirBTC inside the Arc TVL total

Morpho Blue's Arc balance is almost all cirBTC, at 3,752 coins, which values to about $309 million at $82,494 per coin. Aave V4 holds another 1,056 cirBTC, worth about $87 million, alongside $60 million of USDC and $26 million of a yield-bearing USDC token.

Add the two and the lenders hold 4,808 cirBTC. That is 91% of the 5,267 coins on Arc and 78% of the 6,149 that exist across all chains. The other 882 sit on Ethereum, per the token contract there.

CoinGecko describes cirBTC as backed one-to-one by BTC that can be checked onchain and integrated with Circle's infrastructure. Its price tracks bitcoin closely, near 0.9986 BTC on October 9.

Arc chain basics

Arc's public RPC shows a first block stamped May 15, 2026, and a head block from the morning of October 9. Months of operation therefore passed before DefiLlama saw any value, and the line only wakes up in the second half of September.

What the stablecoin side shows

Stablecoins on Arc total about $523 million by DefiLlama's count. USDC is $520 million of that, up from $514 million a week earlier, and EURC is $7 million. A DEX figure of about $38.6 million of volume in 24 hours was down 20% from the day before.

So the Arc TVL story has two parts. Dollar balances hover near $520 million, and the bitcoin side is concentrated in a Circle-issued token that two lenders have absorbed. Because cirBTC follows bitcoin's price, a swing in BTC would pass straight through to Arc TVL.

Reading the numbers carefully

TVL measures assets sitting in contracts, not users or revenue. A single wrapped asset can dominate it, as a LayerZero TVL report showed with WPAY. Anyone quoting an Arc TVL figure should note that cirBTC is priced from bitcoin, so a 10% move in BTC shifts roughly $40 million of the total. DefiLlama's figures update daily and can be revised, and none of this is advice to hold or lend cirBTC. Next to watch are the DefiLlama level and the cirBTC supply split, both of which are public.