Binance Labs, the investment arm of Binance Exchange, has made a strategic investment in ARKM, the native token of the blockchain intelligence platform Arkham, as announced on November 15.
The venture capital and incubator division of Binance has affirmed its commitment which is directed towards fostering “on-chain insights at scale across the blockchain ecosystem” through this strategic investment.
In a blog post, it highlighted the goal of supporting Arkham’s innovative approach to generating and sharing on-chain intelligence.
Binance Labs Applauds Arkham’s Blockchain Breakthroughs
Alex Odagiu, the investment director at Binance Labs, underscored the importance of Arkham’s proprietary technology. He emphasized that it signifies a notable advancement in the production and dissemination of on-chain intelligence.
The Arkham platform provides users and organizations with the empowerment to conduct independent research. Simultaneously, it allows them to actively participate in the intelligence economy. Users and organizations can earn rewards in the form of the ARKM token for their contributions.
Arkham’s primary mission is centered on the deanonymization of blockchain transactions. Moreover, it aims to reinforce self-regulation by affording users the capability to scrutinize the blockchain activities of any individual.
The platform achieves this through its proprietary artificial intelligence engine, ULTRA, which algorithmically correlates addresses with real-world entities. This capability enables users to trace relationships between entities and monitor the flow of funds.
A Boost for Arkham: Unveiling the Intel Exchange as ARKM Token Skyrockets
Binance Labs also highlighted Arkham’s introduction of the Arkham Intel Exchange, one of the world’s initial on-chain intelligence exchanges.
Functioning as a decentralized intelligence economy, this exchange facilitates the matching of buyers and sellers of blockchain intelligence. Users can contribute intelligence and receive compensation in the form of the ARKM token for their efforts.
The exact amount of its investment remains undisclosed as of the announcement. Following this development, the market value of the ARKM token experienced a remarkable surge of over 30% within a 24-hour period.
CoinGecko data indicates that this surge led to the token reaching an unprecedented value of $100 million on November 15. As of the latest update, the ARKM token is trading at $0.58, marking a remarkable increase of more than 70% in the past 30 days.
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