Arkham Intelligence Set To Launch New Crypto Derivatives Exchange Next Month

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As a seasoned researcher with a knack for keeping my finger on the pulse of the ever-evolving crypto market, I find myself intrigued by the latest development: Arkham Intelligence’s upcoming crypto derivatives exchange. Given my past experiences navigating the labyrinthine world of blockchain and digital assets, I can’t help but feel a sense of anticipation tinged with a dash of skepticism.

Based on a recent report from Bloomberg, it’s been announced that Arkham Intelligence, a data company specializing in blockchain, which is supported by Sam Altman – the creator of OpenAI, intends to debut a cryptocurrency derivatives trading platform in November.

New Crypto Exchange On The Horizon

Based on information from a reliable source, it appears that Arkham is shifting its business activities away from London and New York, and moving instead to Punta Cana in the Dominican Republic. This move is part of the company’s strategy to create a fresh base for its trading operations, primarily targeting individual investors. Yet, it’s important to note that this platform will not be available to US-based investors.

Established in 2020, Arkham built a system for analyzing blockchain data, offering valuable insights about the key players, be they entities or individuals, who are shaping the dynamics within the cryptocurrency market.

In 2024, one of our company’s standout offerings will be monitoring Exchange-Traded Funds (ETFs) linked to Bitcoin and Ethereum, which were introduced in the United States in January and July of the current year.

As an analyst, I’ve been tracking the movement of funds in and out of the ETF market for the leading cryptocurrencies, offering a glimpse into the investor’s perspective towards participating in the digital asset market. Notably, the Bitcoin price has soared to a unprecedented high of $73,700 within two months following the US Securities and Exchange Commission’s (SEC) approval of these index funds.

Arkham Intelligence’s list of investors features well-known entities like Bedrock, Draper Associates, and Binance Labs. The company intends to utilize its current data platform, which serves approximately 880,000 monthly active users, as a draw for customers towards their upcoming trading exchange.

Arkham Intelligence Eyes Crypto Market Expansion

It’s said that the forthcoming exchange based in Arkham is expected to function within a free trade zone in the Dominican Republic, providing possible tax exemptions and additional financial advantages.

According to the findings in the report, the crypto derivatives market has undergone substantial changes, particularly noticeable in Binance’s diminishing market influence. As a result, Arkham Intelligence aims to seize an attractive and profitable market niche.

Although Binance continues to be a significant force, it has seen a decrease in its market share for trading volume, reaching its lowest point in four years as per NewsBTC. By September, Binance accounted for only 36.6% of the total trading volume within the approximately $2 trillion cryptocurrency market.

Over the last year, it’s come to light that the company has been working on the essential tech for facilitating exchanges. It’s said they are currently negotiating with investors from the Middle East, aiming to secure a $100 million investment to grow this project even more.

Beyond its technological strides, Arkham is also enhancing its image by teaming up with the renowned Turkish football club, Galatasaray. This collaboration involves a two-year partnership worth approximately €1.8 million ($2 million) annually. As part of this deal, the logo of Arkham Intelligence will be showcased on the sleeves of the players’ jerseys during matches.

Arkham Intelligence Set To Launch New Crypto Derivatives Exchange Next Month

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2024-10-12 11:12