After making a name for itself in on-chain data analysis, Arkham is preparing to launch its crypto derivatives trading platform. What do we know?
Arkham could move into crypto derivatives trading
Since its launch, Arkham (ARKM) has made a name for itself in the on-chain analysis sector. According to the latest report from Bloomberg on the subject, the company would now like to diversify through a cryptocurrency derivatives trading platform.
This new development could take place as early as next month, and would be accompanied by a move of operations in the London and New York offices, to Punta Cana, in the Dominican Republic. Indeed, the company would seek to obtain a license in the free zone of this jurisdiction, in particular in order to benefit from tax advantages.
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According to a person familiar with the matter who remained anonymous, this platform will be aimed at an audience of individual investorsexcept for US residents.
For the moment, Arkham has not confirmed the rumors, but if they were to be proven, the said derivatives platform could be launched as early as next month. If this is the case, it will be interesting to see to what extent it will manage to gain market share over already well-established competitors such as Binance, Bybit, OKX or even Kraken.
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For its part, the ARKM token has increased by more than 30% since Bloomberg's announcement last week. At the time of writing these lines, it is trading at $1.76, up 1.81% over 24 hours, for a capitalization of nearly $400 million.
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Source: Bloomberg
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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