Extended Moves $120M Perps Exchange to Circle’s Arc
Extended has completed its migration from Starknet to Circle’s Arc blockchain, moving about $120 million in total value locked (TVL). The Extended Arc migration took place on October 22, 2026, and trading is live. Open positions and orders remained intact, although deposits and withdrawals briefly paused during the transition.
On Arc, Extended now accepts native USDC and Circle-issued, Bitcoin-backed cirBTC as collateral. USDT and wBTC are not supported. Eligible holders had to withdraw or convert those assets by October 21; ETH balances converted automatically to wETH. Arc offers sub-second finality, USDC-paid gas and access to Circle’s Cross-Chain Transfer Protocol (CCTP) for native USDC transfers between blockchains.
Extended described the move as the first step in a broader partnership with Circle. Traders will be watching whether the migrated TVL grows, whether cirBTC gains traction as Bitcoin collateral, and what the partnership delivers next.
Neutral
The migration is operationally significant for Extended users but does not, by itself, establish a clear directional signal for the wider crypto market. Trading continued with open positions and orders preserved, and the approximately $120 million in TVL moved to Arc. That supports continuity for the exchange, while the brief pause in deposits and withdrawals appears to have ended.
In the short term, traders may monitor liquidity, spreads, funding rates and any disruption to deposits or withdrawals as activity shifts to Arc. The narrower collateral set—USDC and cirBTC, with USDT and wBTC unsupported—could affect individual users’ collateral choices and liquidity. However, the migration alone does not indicate a change in crypto prices or broader market risk appetite.
Longer term, Arc’s adoption by a derivatives exchange could support usage of Circle’s network and native USDC transfers through CCTP. The impact will depend on whether TVL and trading volumes grow, whether traders adopt cirBTC, and whether the Circle partnership delivers further products. As with previous exchange and blockchain migrations, successful execution can strengthen confidence in the platform, while technical problems or declining liquidity can weigh on user activity. No such lasting disruption is reported here, so a neutral assessment is appropriate.