As a seasoned analyst with over two decades of experience in the finance and technology sectors, I find it fascinating to witness the rapid evolution of the cryptocurrency market. The latest move by Arkham Intelligence to launch a points program for its newly-launched derivatives exchange is an intriguing development that underscores the growing competition among players in this space.
As an analyst, I’m excited to share that we, at Arkham Intelligence, have initiated a rewarding loyalty program to attract traders to our cutting-edge cryptocurrency derivatives exchange, as announced on November 14th.
Traders have the opportunity to accumulate points by engaging in spot cryptocurrency trades and trading perpetual futures contracts, as stated by Arkham. This event spans over a period of 30 days, with the accumulated points being exchangeable for Arkham’s own token, ARKM.
On the 6th of November, Arkham introduced a digital asset derivatives trading platform. This platform is said to cater primarily to individual traders and aims to rival established players like Binance in the market.
In a recent post on the X platform, Arkham explained that their platform combines Arkham’s research findings with real-time on-chain audits and proof-of-reserve (PoR) verification mechanisms.
It is not available to people in the United States, Arkham said.
Related: Stop piling into leveraged Bitcoin ETFs and consider this instead
The cryptocurrency market experienced a boost after Donald Trump’s success in the U.S. presidential election, with some speculating that his presidency would be advantageous for the sector, according to CryptoMoon Research.
Researchers from Bitfinex predict a fresh surge of optimism in the cryptocurrency market after Donald Trump’s election victory, as federal authorities might take a more lenient approach towards digital currencies.
Crypto derivative products are becoming more common, even on established platforms like the Chicago Mercantile Exchange (CME). Most of this growth can be attributed to individual investors or retail traders.
The trading volume for crypto derivative products surpassed an impressive $3 trillion in September, marking a significant increase from the roughly $1.5 trillion seen during the same period last year, as reported by CCData.
On September 29th, the Bitcoin Friday Futures (BFF) of CME made its first appearance, marking what the derivatives exchange described as the “most triumphant launch in the history of cryptocurrency futures.
2022 saw the debut of Coinbase’s Futures Exchange within the U.S., allowing over ten million American users to explore cryptocurrency futures on the platform.
As an analyst, I’m sharing that on October 8th, I observed the listing of derivative contracts on Crypto.com’s North American platform, Nadex. These contracts are connected to meme-based cryptocurrencies such as Pepe (PEPE) and Floki Inu (FLOKI).
Additionally, the filings from the Commodity Futures Trading Commission on October 7th mentioned derivative investments linked with Dogelon Mars (ELON) and BONK as well.
Arkham is particularly renowned for providing a widely-used instrument for monitoring blockchain transaction activities and pinpointing the parties linked to distinct cryptocurrency wallet accounts.
It raised $12 million from investors including Sam Altman, the founder of ChatGPT maker OpenAI.
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2024-11-15 00:58