Originally published on: November 06, 2024
Blockchain analysis company Arkham Intelligence has made a splash in the cryptocurrency world by launching its very own derivatives exchange. With a focus on retail traders, this platform is poised to shake up the market, potentially challenging major players like Binance.
One of the key features of this new exchange is Arkham’s integration of its research, which will provide live on-chain audits and proof-of-reserve (PoR) capabilities. This will offer traders a level of transparency and security that is often lacking in the crypto space.
While trading is set to begin next week, it’s worth noting that this exchange will not be accessible to users in the United States. Despite this limitation, Arkham’s entry into the derivatives market comes at a time of unprecedented growth in the sector.
According to a recent report by CCData, the trading volume in crypto derivatives surpassed $3 trillion in September, doubling from the previous year. As the demand for these products continues to soar, established exchanges like the Chicago Mercantile Exchange (CME) are also expanding their offerings.
In fact, CME’s recent launch of Bitcoin Friday Futures (BFF) was hailed as the most successful crypto futures debut to date. Other notable players like Coinbase and Crypto.com have also entered the derivatives market, signaling a shift in the industry’s landscape.
Looking ahead, analysts predict that the introduction of options on Bitcoin exchange-traded funds (ETFs) in the US could happen as early as 2025. This, combined with the potential regulatory changes under a new administration, could further boost the popularity of crypto products.
With its strong track record in blockchain analytics and a roster of high-profile investors, Arkham is well-positioned to make a mark in the burgeoning derivatives market. As more players enter the space and innovation continues to drive growth, the future of crypto trading looks brighter than ever.
