Blockchain analytics firm Arkham Intelligence has launched a points program to lure traders to its newly launched cryptocurrency derivatives exchange, according to a November 14 announcement.
Traders can earn points through spot cryptocurrency and perpetual futures contracts, Arkham said. The program lasts for 30 days and points can be converted to ARKM, Arkham’s native token.
On November 6, Arkham launched a digital asset derivatives exchange. The exchange will reportedly target retail traders and compete with established platforms such as Binance.
Arkham’s exchange integrates Arkham’s research and provides real-time on-chain auditing and proof-of-reserve (PoR) capabilities, Arkham said in a post on the X platform.
Arkham said the feature is not available to people living in the United States.
Source: Arkham
Cointelegraph Research reported that the cryptocurrency market soared after Donald Trump’s victory in the US presidential election. This is because many people believe that his victory will help the industry.
Bitfinex researchers expect a “new wave of hope” to enter the cryptocurrency market following Trump’s election as federal agencies adopt a less hostile stance toward cryptocurrencies.
Cryptocurrency derivatives are proliferating, including on established exchanges such as the Chicago Mercantile Exchange (CME). This activity was primarily driven by retailers.
According to a report by CCData, cryptocurrency derivatives trading volume surpassed $3 trillion in September. That’s up from about $1.5 trillion a year ago.
On September 29, CME’s Bitcoin Friday Futures (BFF) debuted in what the derivatives exchange called “the most successful cryptocurrency futures launch of all time.”
In 2022, the Coinbase Derivatives Exchange launched in the United States, providing cryptocurrency futures to Coinbase’s tens of millions of U.S. users.
On October 8, Nadex, Crypto.com’s North American derivatives exchange, listed derivatives contracts linked to memecoins such as PEPE and FLOKI.
It also listed derivatives related to Dogelon Mars (ELON) and BONK, according to an October 7 Commodity Futures Trading Commission (CFTC) filing.
Arkham is best known for providing widely used tools for tracking blockchain transactions and identifying entities associated with various cryptocurrency wallet addresses.
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