Arkham Intelligence, a blockchain analytics firm, is launching its new perpetual exchange. In October, the company began preparing to pivot and provide derivatives contracts.
Trading will commence in a week, but Arkham is providing very few details about its specific derivative products.
Also Read: Arkham Intelligence to Launch Derivatives Exchange
Arkham's Pivot to Derivatives
Blockchain analytics firm Arkham Intelligence announced that its perpetual exchange has gone live. Specifically, they posted that they have registered and trading will commence in a week. This comes after a mid-October report that Arkham was undergoing a major shift to facilitate a new derivatives exchange. Perpetual futures are the first derivative contracts that will be available on the Arkham Exchange. The company has also announced "trading points" to incentivize trading.
"Users can earn Arkham points based on their trading volume on the Arkham Exchange,"
Arkham said.
Perpetual futures are an emerging type of derivative contract in the crypto space. For example, Coinbase, one of the industry's largest exchanges, has listed several new perpetuals in the past few months. Coinbase has rolled out these contracts for individual cryptoassets; however, Arkham has not disclosed any assets they will be providing.
Arkham's announcement is quite sparse. Their promotional video focuses on features aligned with the company's existing blockchain analytics capabilities, such as on-chain auditing or verifiable proof of reserves. It does not mention the nature of the contracts or even if the company plans to expand into other derivatives.
However, this move has proven quite bullish for Arkham. Their ARKM token had declined significantly earlier this year after some controversial token swaps. Since then, it has seen a brief recovery and then languished. However, the price of ARKM has surged since the announcement of the Arkham Exchange. At the time of writing, it is trading at $2.15, up 14.48% in the past 24 hours.
Arkham (ARKM) Price Performance. Source: BeInCryptoUltimately, there is nothing in this move so far that indicates a fundamental shift in the company's business strategy. Arkham has had to relocate to the Dominican Republic to operate its exchange, but all public statements have focused on its sophisticated analytics. Arkham Intelligence has built a strong reputation on its blockchain data, and this may continue to be a key pillar.
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