According to an announcement on November 6, blockchain analytics firm Arkham Intelligence has launched a cryptocurrency derivatives exchange.
The exchange will reportedly target retail traders and compete with established platforms such as Binance.
Arkham said in a post on the
Trading is scheduled to begin next week, but people in the U.S. will not be able to do so, Arkham said.
Source: Arkham
The cryptocurrency derivatives market is growing explosively, driven primarily by the trading activity of individual investors.
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.
Cryptocurrency derivatives are proliferating, including on established exchanges such as the Chicago Mercantile Exchange (CME).
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.
BTC exchange-traded fund (ETF) options will likely launch in the U.S. by the first quarter of 2025, according to Bloomberg Intelligence analyst James Seyffart.
Analysts expect cryptocurrency products to surge following Republican candidate Donald Trump’s victory in the US presidential election on November 5.
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.
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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