YEREVAN (CoinChapter.com) — Blockchain data firm Arkham Intelligence is set to launch a crypto derivatives exchange next month, according to a Bloomberg report. The exchange will focus on retail traders and aim to compete with other platforms like Binance. The report, which cites a source familiar with the situation, indicates that Arkham’s exchange will be operational in November. First, the firm will secure a license in the Dominican Republic, where it plans to operate.
Arkham Computer Blockchain Data Overview. Source: Arkham Intelligence Crypto Derivatives Surge: Arkham’s ARKM Token Gains 17.5%
In September, crypto derivatives trading volume exceeded $3 trillion. This is up from $1.5 trillion in the same month last year, according to data from CCData. This sharp increase highlights the growing popularity of derivatives products among retail traders, a market Arkham plans to tap into.
Moreover, the crypto derivatives market has seen significant growth, with retail participation driving a large part of the trading activity. Established platforms like the Chicago Mercantile Exchange (CME) continue to introduce new products. On Sept. 29, CME launched Bitcoin Friday Futures (BFF), which recorded over 31,498 contracts traded on the first day. Additionally, the market for smaller contracts, like Coinbase’s nano Bitcoin futures, is also expanding. This indicates a growing appetite for crypto derivatives products.
Consequently, following the Bloomberg report, Arkham’s token, ARKM, saw an increase of over 17.5%, according to data from CoinGecko.
Arkham (ARKM) Price Surge and Market Data. Source: CoinGecko Recent Developments in Crypto Derivatives
Other exchanges have also moved into the crypto derivatives space. Crypto.com’s North American platform, Nadex, recently listed derivatives contracts tied to memecoins like Pepe (PEPE), Floki Inu (FLOKI), Dogelon Mars (ELON), and BONK, as confirmed by Commodity Futures Trading Commission (CFTC) filings.
CFTC Certifications for Cryptocurrency Contracts. Source: Commodity Futures Trading Commission (CFTC)
In addition, options on Bitcoin ETFs are expected to launch in the U.S. by Q1 2025, according to Bloomberg Intelligence analyst James Seyffart. Above all, as the demand for derivatives products continues to grow, Arkham is positioning itself to capitalize on this trend with its new exchange.
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