Arkham Exchange to Launch Spot Trading in U.S. – Challenging Coinbase and Crypto.com’s Duopoly?

Arkham Exchange, the 2024 founded centralized crypto trading platform operated by the Blockchain analytics firm, Arkham Intelligence, announced on Saturday that it will expand its spot trading services to 17 U.S. states.
Starting from March 1, this move by Arkham follows after it launched USDT-based perpetuals exchange last year in November, securing substantial market share. By entering the US markets, Arkham Exchange will directly compete with established platforms like Coinbase and Crypto.com.

Arkham recently also awarded a bounty of 50,000 ARKM tokens to ZachXBIT, the security researcher involved in exposing the North Korean Lazorous group behind the infamous ByBit Hack.

Notably, expanding in the U.S. market requires strict adherence to regulatory guidelines set by agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

The 17 US States identified by Arkham

Spot trading allows users to buy and sell cryptocurrencies in real time at market prices, a fundamental service for retail and institutional investors. With this expansion, Arkham aims to increase its trading volume and attract a larger user base, capitalizing on the growing demand for secure and efficient trading platforms.

The 17 U.S. states where Arkham Exchange will offer spot trading include California, Texas, Florida, Illinois, New York, Pennsylvania, Ohio, Georgia, North Carolina, Michigan, Virginia, Washington, Arizona, Massachusetts, Tennessee, Indiana, and Missouri.

However, some jurisdictions, such as Hawaii and Alaska, remain restricted perhaps due to complex regulatory requirements.

Arkham Exchange integrates blockchain intelligence tools within its trading platform, providing users with deep insights into on-chain transactions. This feature enhances transparency, security, and decision-making for traders. Additionally, the platform’s native token, ARKM, plays a crucial role in transactions and user incentives, further strengthening its ecosystem.

ARKHAM MARKETS AMERICA

Spot trading on the Arkham Exchange is going live in the United States on March 1st.

Trading will be available in the following states: Colorado, Hawaii, Indiana, Iowa, Kansas, Michigan, New Hampshire, New Jersey, South Carolina, Tennessee, Utah,… pic.twitter.com/xe0NppBC7r

— Arkham (@arkham) February 22, 2025

Taking on the Big Giants

By entering US spot trading markets, Arkham Exchange is taking on some of the biggest names in the cryptocurrency industry.

Coinbase, Crypto.com, Binance.US, and Kraken have long dominated the U.S. market, but Arkham’s new propositions and better trading tools (if implemented) can set it apart.

In terms of market share, according to the Coingecko report, Coinbase leads with a substantial market share of 76.2%, followed by Binance.US at 8.3%, Crypto.com at 6.0%, Kraken at 5.4%, with Gemini standing last with a market share of 4.1%.

In the U.S., though Coinbase has remained the dominant player, the market cannot strictly be considered as dominated by established duopoly. Other exchanges like Binance.US, Crypto.com, Kraken, and Gemini also hold significant portions of the market, contributing to a competitive landscape – thus giving Arkham enough space to compete.

To secure its space, Arkham can consider offering lower fees than its competitors like Coinbase (which has high trading fees) – in order to attract users. It can further incentivize high-volume traders with fee discounts or rewards programs to help build volume quickly.

To its added advantange, Arkham’s blockchain intelligence and analytics tools will be a unique selling point for traders, giving them more transparency and insight into market movements.

Market Reaction

As such, Arkham’s native token ARKM reacted positively to the news – highlighting the enthusiasm shown by investors and traders competitive on the entry of third player in the US markets.

ARKM is up 11.5% in the last 24-hours. And now with spot trading services going to be made available in U.S. states from March 1, demand for ARKM is expected to rise, potentially increasing its market value.

According to recent data, ARKM has a circulating supply of approximately 225.1 million tokens out of a total supply of 1 billion. Initially launched in July 2023, ARKM facilitates transactions within Arkham’s Intel Exchange—a marketplace where users can buy and sell blockchain intelligence.

Thus, with its expansion into 17 U.S. states, Arkham Exchange is making bold moves to establish itself as a top-tier crypto trading platform. By leveraging blockchain intelligence, maintaining regulatory compliance, and offering unique trading tools, the company can challenge industry giants and attract a growing user base.