Blockchain analytics firm Arkham Intelligence has launched a cryptocurrency derivatives exchange, according to a November 6 announcement. The exchange aims to target retail traders and compete with established platforms such as Binance.
Arkham stated that the new exchange would integrate its research tools and feature live on-chain audits and proof-of-reserve (PoR), providing transparency for traders. Trading is set to commence next week, though the exchange will not be available to users in the United States, as noted in an announcement on the X platform.
The cryptocurrency derivatives market has seen explosive growth recently, largely driven by increased trading activity from retail investors. According to a report by CCData, crypto derivatives trading volume exceeded $3 trillion in September, a significant increase from approximately $1.5 trillion a year earlier.
Crypto derivatives products are also gaining traction on established exchanges such as the Chicago Mercantile Exchange (CME). On September 29, CME launched Bitcoin Friday Futures (BFF), which the exchange described as the “most successful crypto futures launch ever.”
Other platforms have also joined the derivatives trend. In 2022, Coinbase launched its own derivatives exchange, bringing crypto futures to its tens of millions of users in the United States. Similarly, on October 8, Crypto.com’s North American derivatives exchange, Nadex, introduced derivatives contracts linked to memecoins, including Pepe (PEPE) and Floki Inu (FLOKI). It also listed derivative products tied to Dogelon Mars (ELON) and BONK, based on Commodity Futures Trading Commission (CFTC) filings from October 7.
Analysts expect more crypto products to proliferate following Republican candidate Donald Trump’s recent victory in the U.S. presidential elections on November 5. Bitfinex researchers anticipate a “new wave of hope” entering crypto markets, as federal agencies are likely to adopt a less hostile stance on the industry.
Additionally, options on Bitcoin exchange-traded funds (ETFs) are expected to launch in the U.S. by the first quarter of 2025, according to Bloomberg Intelligence analyst James Seyffart.
Arkham Intelligence is best known for offering a popular tool that tracks blockchain transactions and identifies entities linked to various crypto wallet addresses. The company has raised $12 million from investors, including Sam Altman, the founder of ChatGPT maker OpenAI, to support its initiatives in the blockchain analytics space.