The analytical company Arkham Intelligence has decided to close its own cryptocurrency exchange, Arkham. The main reason for this move was the lack of user interest in the platform, which was reflected in low trading volumes.
This is reported by Business • Media
Trading Volumes and Market Position
In the last 24 hours, the Arkham exchange recorded a trading volume of less than $620,000. In comparison, Binance reached nearly $9 billion, while Coinbase recorded $2 billion. These figures indicate a significant lag for Arkham compared to the leaders in the cryptocurrency exchange market.
“The reason is low user interest.”
History of the Arkham Exchange and Development Dynamics
The Arkham Intelligence platform launched in 2020 and had over 3 million registered users at the time of its closure. In October 2024, the company announced plans to launch a cryptocurrency derivatives exchange aimed at retail investors, and by January 2025, Arkham Exchange opened spot trading in several U.S. states. By the end of that year, they added a mobile application for user convenience.
It is important to note that Arkham has its own token, ARKM. Its current value is around $0.12, which is 97% lower than its all-time high of $4, recorded in March 2024.
In November 2024, Arkham announced the start of operations in the Ukrainian market.