Arkham CEO denies shutdown rumors, confirms shift to DEX as exchange posts $702K daily volume amid crypto market decline.
Arkham Exchange is not shutting down, according to CEO Miguel Morel, who addressed recent rumors about a possible closure.
The statement comes as trading volumes remain low and broader crypto markets face renewed pressure.
Morel said the platform is moving toward a decentralized exchange model instead of ending operations.
Arkham Is Not Closing, CEO Says-Platform Moving to DEX
Miguel Morel denied reports that Arkham Exchange is winding down. He said the company is redesigning the platform into a fully decentralized exchange.
“The platform is not shutting down,” Morel said, adding that the future focus is decentralization.
Arkham Exchange launched in late 2024 after Arkham Intelligence expanded into trading services.
The exchange aimed to compete with established platforms by offering spot products for retail users. It later rolled out services across several U.S. states.
The company also released a mobile trading app in December to increase user activity.
Despite these efforts, trading volumes have remained modest compared to larger exchanges. The transition to a DEX marks a structural shift in operations.
Trading Volume and Platform Activity
Data from CoinGecko showed Arkham Exchange recorded about $702,591 in daily trading volume. The figure represented a 33.9% increase over 24 hours.
However, it remained far below volumes reported by top global exchanges.
Sources had suggested the exchange struggled to gain traction during the current market cycle.
Lower activity across digital asset markets has affected several trading platforms. Arkham has not disclosed internal revenue figures.
Arkham Intelligence, founded in 2020, continues to operate its blockchain analytics services.
The firm reports more than 3 million registered users. Its backers include Sam Altman, Draper Associates, Binance Labs, and Bedrock.
Related Reading: Arkham Maps 53% of Zcash Transactions in Major Tracking Expansion
Broader Market Conditions Weigh on Sentiment
The shutdown rumors emerged during a wider crypto market decline. Bitcoin, Ethereum, and Solana all posted daily losses.
Investors have been monitoring U.S. economic data tied to interest rate policy.
According to market data, the total crypto market capitalization fell 1.98% to $2.29 trillion. The Fear and Greed Index dropped to 9, down from 10 a day earlier.
The index reflects prevailing investor sentiment in digital asset markets.
At the time of reporting, Bitcoin traded near $67,030, down about 2% in 24 hours.
Ethereum traded around $1,950 after a decline of roughly 3%. Solana changed hands near $81 following a similar drop.
Arkham’s analytics platform remains operational as the exchange prepares for its decentralized transition.
Source: https://www.livebitcoinnews.com/arkham-is-not-closing-ceo-says-platform-moving-to-dex/
