- Arkham Intelligence will pivot its crypto exchange to a decentralized model after failing to attract significant trading volume.
- The exchange’s trading volume peaked in February 2025 and has since struggled to compete with major rivals like Binance and Coinbase.
- Much of the platform’s recent activity was driven by users farming its Season 2 airdrop, according to social media commentary.
- The native ARKM token has fallen 82.4% since its 2023 launch.
Arkham Intelligence, a blockchain analytics firm, announced plans in February 2026 to shutter its centralized cryptocurrency exchange and transition to a fully decentralized platform, according to a report by CoinDesk. Founder Miguel Morel stated, “The future of crypto trading is decentralized, and that’s what we’re building towards.”
The exchange launched in late 2024 with ambitions to rival industry giants. While it initially saw over $677 million in trading volume in February 2025, daily volume has since fallen below $22 million.
Consequently, it could not compete with top exchanges that handle tens of billions daily. Meanwhile, the Arkham token has declined 2.6% in 24 hours and is down 82.4% since its 2023 launch.
Many users on X noted that traders primarily used the platform to farm its ongoing Season 2 airdrop. The firm had previously claimed to distribute over $20 million in its first airdrop season.
The analytics company, which tracks crypto holdings of public figures and entities, is OpenAI-s-altman-to-launch-derivatives-exchange” target=”_blank” rel=”noreferrer noopener”>backed by investors including OpenAI’s Sam Altman and Binance Labs. Its pivot marks a strategic retreat from the competitive centralized exchange landscape.
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