As a seasoned analyst with years of experience in the dynamic and ever-evolving world of cryptocurrencies, I find the news of Arkham Intelligence venturing into the derivatives exchange market intriguing. With my background in tracking blockchain transactions and identifying entities associated with various crypto wallets, I have witnessed firsthand the explosive growth of the crypto derivatives market.
According to a Bloomberg report, it’s said that blockchain analysis company Arkham Intelligence intends to debut a cryptocurrency derivative trading platform within the upcoming month.
The transaction aims to cater to individual investors and rival established platforms like Binance, according to a source close to the situation, who spoke to Bloomberg.
Arkham has reportedly started the procedure for acquiring a permit in the Dominican Republic, intending to run its exchange there.
The crypto derivatives market is exploding, largely driven by trading activity from retail investors.
The trading volume for crypto derivative products surpassed the $3 trillion mark in September, representing an increase from around $1.5 trillion in the same month last year, as indicated in a report by CCData.
The surge in adoption is fueled by an increase in cryptocurrency derivative offerings, which are now available on well-known platforms like the Chicago Mercantile Exchange (CME).
On September 29th, Bitcoin Friday Futures (BFF), introduced by CME, made its first appearance in a historic event that they labeled as the “most triumphant crypto futures launch in history.
The contracts played a significant role in achieving an unprecedented initial-day trading volume for cryptocurrency futures, as over 31,498 contracts were exchanged during two contract periods, based on data from the Chicago Mercantile Exchange (CME).
The BFFs are sized at only one-50th of a Bitcoin (BTC). It is a similar offering as Coinbase’s “nano” Bitcoin futures, which are sold in increments of one-100th of 1 BTC.
As a crypto enthusiast, I was thrilled to learn on October 8th that the North American derivatives exchange, Nadex, affiliated with Crypto.com, started listing derivative contracts linked to meme coins such as Pepe (PEPE) and Floki Inu (FLOKI). This move offers a new avenue for investment in these popular internet-inspired cryptocurrencies.
Additionally, the documents filed with the Commodity Futures Trading Commission on October 7th also mentioned associated products related to Dogelon Mars (ELON) and BONK.
It’s predicted that Bitcoin ETF options will debut in the U.S. as early as the first three months of 2025, says James Seyffart, an analyst from Bloomberg Intelligence.
Arkham, well-recognized for it, provides a widely-used instrument for monitoring blockchain transactions and uncovering the entities linked to diverse cryptocurrency wallet addresses.
It raised $12 million from investors including Sam Altman, the founder of ChatGPT maker OpenAI.
Arkham’s token, ARKM, is up more than 16% after Bloomberg’s report, according to CoinGecko.
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2024-10-13 19:22