Arkham Intelligence has just announced an exciting new plan. They’re launching a spot trading platform in the U.S. This move aims to compete with big names like Coinbase and Kraken.
The details are a bit limited for now. However, the platform will follow local regulations. This means U.S. users can only access it in states where cryptocurrency trading is allowed.
This announcement builds on Arkham’s recent news about a crypto derivatives exchange. That platform targets retail investors, but it won’t be available to U.S. residents due to regulatory issues.
After the news broke, Arkham’s native ARKM token saw a nice bump, increasing by 7%. But it did experience some corrections afterward. Currently, the token trades at around $2.09. Launched in July 2023, ARKM has skyrocketed nearly 350% in just a year.
Founded in 2020, Arkham Intelligence focuses on blockchain data analysis using artificial intelligence. They’ve attracted backing from notable figures like Peter Thiel and Sam Altman, the CEO of OpenAI.
As Arkham gains traction in the crypto analytics space, they’re diversifying their offerings. They aim to create new revenue streams beyond their free blockchain search tools and data tracking services.
Arkham is also making significant upgrades to its analytics platform. Recently, they added Solana’s blockchain data, allowing users to track and visualize various on-chain operations on Solana.
While these initiatives represent an expansion of Arkham’s operations, the company’s core strategy remains focused on blockchain analytics and compliance.
Previously, Arkham announced plans to relocate to the Dominican Republic. This move could help them navigate regulatory challenges as they scale up their operations.