Arkham token surges 15% in one day, is it related to its upcoming exchange launch?

Arkham Intelligence, a blockchain analytics firm, is reportedly preparing to launch a cryptocurrency derivatives exchange as early as next month. The platform, aimed at retail traders, will challenge established players like Binance, according to a source cited by Bloomberg.

The company is currently working on obtaining a license in the Dominican Republic, where it intends to base its operations.

Crypto derivatives on exchanges are growing

The market for crypto derivatives is growing rapidly, particularly driven by increased activity from retail investors. In September, derivatives trading volume surpassed $3 trillion, compared to approximately $1.5 trillion one year earlier, based on data from CCData.

Traditional exchanges are also embracing the growing trend in crypto derivatives. On 29 September, the Chicago Mercantile Exchange (CME) launched Bitcoin Friday Futures (BFF), which was called the "most successful crypto futures launch ever." Over 31,498 contracts were traded on the first day alone, contributing to the market’s overall surge.

The BFF contracts are valued at one-50th of a Bitcoin, similar to Coinbase’s nano Bitcoin futures, which are smaller contracts measured at one-100th of 1 BTC.

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Derivatives Tied to Memecoins

On 8 October, Crypto.com’s North American derivatives exchange, Nadex, added derivative products linked to several memecoins, such as Pepe (PEPE) and Floki Inu (FLOKI), according to filings with the Commodity Futures Trading Commission (CFTC).

Nadex has also introduced derivatives linked to Dogelon Mars (ELON) and BONK.

Looking ahead, Bitcoin exchange-traded fund (ETF) options are expected to launch in the United States by the first quarter of 2025, according to Bloomberg Intelligence analyst James Seyffart.

Arkham’s Expanding Presence

Arkham Intelligence is best known for its blockchain tracking tools, which allow users to identify entities associated with various crypto wallet addresses. The firm has raised $12 million from notable investors, including Sam Altman, founder of OpenAI.

Following Bloomberg’s report, Arkham’s token, ARKM, surged by more than 16%, according to CoinGecko.

While Arkham Intelligence's planned exchange signals their entry into an expanding market, competition is intense. Existing platforms like Binance and upcoming players such as CME and Nadex have already established strong positions. Whether Arkham can carve out a meaningful space remains uncertain in such a crowded and rapidly evolving landscape.