Daniel Walker
Arkham Intelligence, known for its blockchain data tracking platform Arkham Intel, plans to launch a crypto derivatives exchange in November, according to a report from Bloomberg, citing an insider familiar with the development.
This new derivatives platform aims to attract retail investors and compete with industry leaders like Binance. However, the service will not be accessible to users in the United States. As part of this expansion, Arkham is relocating its business operations and the new exchange from London and New York to the Dominican Republic, where it is in the process of obtaining a free-trade zone license.
In a statement made in July, Arkham CEO Miguel Morel mentioned that the company would explore monetization options for the platform in 2024 while keeping key features free of charge.
Arkham has established itself as a popular crypto data and research tool, gaining nearly 84,000 new followers on X (formerly Twitter) between September 30 and October 7, as tracked by PRIME Data Dashboard.
Arkham’s native token ARKM has experienced an 18% price increase in the last 24 hours and is currently trading at $1.51, according to data from PRIME Crypto.
Arkham (ARKM) price – PRIME Crypto
