USDC Borrowing Hits $150M Against cirBTC on Arc
USDC (USDC)
Editor:
Eugene Serbin
cryptocurrency.com.tr reports that over $150 million in USDC has been borrowed against cirBTC on the Arc platform. This borrowing surge indicates a notable uptick in market activity and growing demand for stablecoins. Crypto commentator @Morpho tweeted that this activity may reflect broader shifts in trading dynamics within the sector.
The trend highlights the increasing utility of USDC as a stablecoin during volatile market conditions. Investors are watching these developments closely as they could signal further liquidity and trading opportunities. Although USDC’s price remains stable at $1.00, the borrowing volume shows active engagement with the asset.
This spike occurs amid mixed signals across the broader crypto market with varying momentum in major assets. The robust demand demonstrates USDC's relevance as traders seek to navigate market fluctuations. The 24-hour trading volumes were not reported, but the borrowing activity confirms active participation.
This behavior is consistent with a broader trend of rising demand for stablecoins. The data points to a focal point for traders and investors alike.
How the market reacted
Whalio's own Binance spot order flow for USDC, measured when this story was written up on 28 September 2026. Not the outlet's figures.
Whalio’s spot data for USDC shows a price of $1.00 with a 1-hour buy ratio of 47.1% and a 4-hour buy ratio of 49.4%. These short-term figures are slightly below the 24-hour buy ratio of 49.2%, suggesting that buying pressure is fading rather than building. The volume delta is negative across all timeframes, with -$9,673,994 in the last hour and -$9,824,955 over four hours. This negative delta means that sell volume has exceeded buy volume, indicating net outflow from the spot market. Over the full 24 hours, the volume delta stands at -$18,943,293, with a cumulative volume delta (CVD) of -$9,801,963 at the close. Despite the net selling pressure, the 24-hour spot volume remains high at $1,131,292,993 across 388,048 trades.
The latest daily buy ratio of 50.2% sits at the 73rd percentile of the last 322 days, against a median of 48.4% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for USDC, averaged over the days leading up to the story.
Comparing today’s activity to the preceding week, the 24-hour buy ratio of 49.2% is lower than the 7-day average of 50.4%. This represents a drop of 1.2 percentage points, indicating a less bullish sentiment than the weekly norm. The 24-hour spot volume of $1,131,292,993 is also lower than the weekly average, recorded at 0.41 times the typical volume. While the weekly volume delta was positive at +$182,732,447, today’s negative delta marks a shift from the net buying seen over the eight-day period. Only 5 of the 7 days in the preceding week saw net buying, whereas today shows a clear net outflow. The price change over the 8-day period remains at +0.0%, showing stability despite the volume fluctuations.