Arkham Intelligence plans to launch a cryptocurrency derivatives exchange next month. This platform will target retail traders and compete directly with giants like Binance, as reported by Bloomberg. Additionally, the exchange will operate under a license in the Dominican Republic. Arkham is close to securing regulatory approval for its operations there.
Rising Demand for Crypto Derivatives
This move aligns with the growing demand for crypto derivatives, a market expanding rapidly due to retail investors. In September, trading volumes for crypto derivatives reached over $3 trillion, doubling from the $1.5 trillion recorded the previous year, according to CCData. Moreover, new crypto derivatives products on major exchanges, like the Chicago Mercantile Exchange (CME), have significantly driven this surge.
CME’s Bitcoin Friday Futures Boost Market Activity
On September 29, CME launched its Bitcoin Friday Futures (BFF) contracts. These contracts, priced at one-50th of a Bitcoin, saw over 31,000 trades on the first day, marking the exchange’s most successful crypto futures debut. This success mirrors Coinbase’s “nano” Bitcoin futures, priced at one-100th of a Bitcoin. The derivatives market has also expanded to include memecoins like Pepe (PEPE) and Floki Inu (FLOKI), which Nadex recently listed on its platform.
Arkham Token Surges After Exchange Announcement
Following the announcement of Arkham’s entry into the crypto derivatives market, its token, $ARKM, surged by more than 16%, according to CoinGecko. Notably, Arkham has gained recognition for its blockchain tracking tools and has raised $12 million from prominent investors, including Sam Altman, the founder of OpenAI.
Arkham Intel Exchange: A Decentralized On-Chain Research Marketplace
Last year, Arkham introduced the Arkham Intel Exchange, a decentralized marketplace for blockchain intelligence. This platform allows on-chain researchers, traders, and investors to trade blockchain-related information effectively.
The Intel Exchange operates through a bounty system. Users can place bounties for specific on-chain data, and experienced blockchain researchers fulfill these requests in exchange for payment. This platform successfully meets the growing demand for on-chain research and analysis.
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