Blockchain analytics company Arkham Intelligence plans to launch a cryptocurrency derivatives exchange soon. According to information provided by Bloomberg, sources close to the subject state. The new platform will appeal to retail investors and compete with big names in the industry such as Binance.
The exchange’s activities will be carried out with a licence obtained in the Dominican Republic. It is stated that Arkham is in the final stage of the regulatory approval process and will be completed soon.
This new venture is set to play an important role in the cryptocurrency market by offering diversified investment options for retail investors.
Demand for Crypto Derivatives Continues to Increase
Arkham Intelligence’s plan to launch a cryptocurrency derivatives exchange signals a period of rapid growth. It has significant interest shown by retail investors in recent months.
According to data from CCData, demand for crypto derivatives has increased significantly. In September alone, derivatives trading volume more than doubled to more than $3 trillion from $1.5 trillion a year earlier.
This increased demand is also supported by the diversification of crypto derivative products on major exchanges. Such as the Chicago Mercantile Exchange (CME).
In particular, the Bitcoin Friday Futures (BFF) contracts launched by CME on 29 September were hailed as a great success by the market.
These contracts trade at one 50th the value of Bitcoin and saw more than 31,000 trades in the first days of its launch. This reflects a similar success to the ‘nano’ Bitcoin futures offered by Coinbase, which are traded at smaller rates.
The expansion of the derivatives market is also supported by contracts tied to popular memecoins such as Pepe (PEPE) and Floki Inu (FLOKI), which are listed on Crypto.com’s North American derivatives exchange Nadex.
As Arkham takes steps to expand in the crypto derivatives space, the company’s native token, ARKM, jumped more than 16% following the Bloomberg report.
The company has an influential position in the market as a company known for its blockchain transaction tracking tools and has received $ 12 million in investment from leading investors such as OpenAI founder Sam Altman.
Arkham Launches Decentralised Intel-to-Earn Marketplace
Last year, Arkham Intelligence launched the Arkham Intel Exchange, an on-chain ‘intelligence marketplace’ as an innovation in the blockchain world.
This platform aims to provide a new market and opportunity for those who want to share and trade blockchain-related information.
In the introduction of this platform, Arkham stated that there is a serious demand for on-chain analyses. It has various segments such as traders, investors, journalists, researchers and protocols.
At the same time, the company emphasised that it aims to meet a need for skilled on-chain researchers looking to monetise their skills.
The Intel Exchange platform provides interaction between buyers and sellers of on-chain intelligence. The platform creates an ecosystem where both parties can benefit from the use of a reward mechanism.
The platform allows users who need specific on-chain information to make requests by placing rewards. These rewards are collected by experienced blockchain researchers, called ‘bounty hunters’, who provide the requested intelligence.
According to Arkham, Intel Exchange brings a new dimension to the on-chain intelligence economy. It helps researchers monetise their skills and meet the growing demand for on-chain research in a scalable way.
This innovative platform aims to contribute to the development of the industry by promoting knowledge exchange and value creation in the blockchain space.