30s Summary

Arkham Intelligence, known for its blockchain analytics, plans to launch a cryptocurrency trade exchange that targets retail traders. The company aims to compete with significant players like Binance and is securing its license in the Dominican Republic. The cryptocurrency derivatives market recently surpassed $3 trillion in trading volume, propelled by the production of crypto derivative products. Moreover, options on Bitcoin ETFs are expected to debut in the U.S. by 2025 Q1. Arkham, funded by prominent investors like Sam Altman, tracks blockchain transactions and identifies related crypto wallet addresses.

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So, here’s some hot news for cryptocurrency enthusiasts. Arkham Intelligence, known for its analytics in the blockchain world, is slated to launch a cryptos trade exchange pretty soon, maybe next month, if reports by Bloomberg are anything to go by.

This exchange has its eyes set on retail traders and plans to play in the same market as big shots like Binance. And from what we hear, it’s setting up shop in the Dominican Republic and is apparently busy getting its license there.

Talking about the cryptocurrency derivatives market, it’s pretty much on fire right now. Thanks largely to the active trading from the retail investors. The trading volume for cryptos derivatives shot past $3 trillion in September, up from just about $1.5 trillion a year ago, as per a report from CCData.

The credit for this massive upsurge in adoption goes to the rampant production of crypto derivatives products, including established exchanges like the Chicago Mercantile Exchange (CME). Speaking of CME, its Bitcoin Friday Futures, also known as BFFs, hit the market in what was termed as the “most successful crypto futures launch ever”. The trading volumes skyrocketed on day one, raking in more than 31,498 contracts across two contract weeks.

These BFFs are pretty special though. They’re selling at just one-50th of a Bitcoin (BTC), much like Coinbase’s “nano” Bitcoin futures that come in increments of just one-100th of a Bitcoin.

But that’s not all. Nadex, the North American derivatives exchange of Crypto.com, has kicked off trading of derivatives contracts tied to popular meme coins including Pepe (PEPE) and Floki Inu (FLOKI). Dogelon Mars (ELON) and BONK derivative products have also joined the list, as per CFTC filings on October 7.

Looking ahead, we’re expecting options on BTC exchange-traded-funds (ETFs) to debut in the U.S. by 2025’s first quarter. This prediction is courtesy of James Seyffart, a Bloomberg Intelligence analyst.

For those unaware, Arkham is a go-to platform for tracking blockchain transactions and identifying entities associated with different crypto wallet addresses. It even has the support of investors like Sam Altman, the founder of ChatGPT creator OpenAI, who invested $12 million in it. In fact, post this news going live on Bloomberg, Arkham’s token, ARKM, has already surged by over 16%.

Source: Cointelegraph