Catenaa, Tuesday, November 12, 2024 – Blockchain analytics firm Arkham Intelligence announced last week the launch of its own cryptocurrency derivatives exchange, specifically targeting retail traders and competing with established platforms like Binance.
The announcement, made on November 6, highlights Arkham’s focus on transparency and security, incorporating live on-chain audits and proof-of-reserve (PoR) into its exchange.
Trading on the new platform is scheduled to begin next week, although it will not be accessible to users in the United States, according to Arkham’s recent post on X (formerly Twitter).
The debut of Arkham’s exchange comes amid a surge in crypto derivatives trading, a market that has more than doubled in size over the past year. September alone saw over $3 trillion in crypto derivatives trading volume, driven largely by retail investors, as reported by CCData. Traditional financial institutions have also entered the space, with exchanges like the Chicago Mercantile Exchange (CME) recently launching Bitcoin Friday Futures in late September, described as the “most successful crypto futures launch ever.”
Analysts anticipate that the crypto derivatives market will continue to expand, particularly with the recent U.S. presidential election win of Republican candidate Donald Trump on November 5.
Many industry experts predict a friendlier federal stance toward crypto products, which could further boost the market’s growth.
Arkham, known for its blockchain transaction tracking tools, received a $12 million investment in 2022 from high-profile backers, including OpenAI’s Sam Altman.
