November 19, 2023

Binance Labs Invests in Blockchain Firm Arkham

Binance Labs

Binance Labs

Binance Labs, the venture capital arm of the world’s largest cryptocurrency exchange, Binance, has recently invested in Arkham, a blockchain intelligence firm.

Arkham has developed an AI platform that aims to enhance transparency in the cryptocurrency industry. Binance Labs’ investment in Arkham is a strategic move in line with its continued efforts to support innovative projects in the blockchain space.

Arkham’s cutting-edge technology uses a proprietary AI engine called ULTRA to deanonymize blockchain transactions. This platform provides users with the ability to search transaction histories and algorithmically matches addresses with real-world entities, which promotes greater transparency.

Arkham provides analytical capabilities and has introduced the Arkham Intel Exchange, a marketplace on the blockchain that enables the buying and selling of blockchain intelligence on a large scale. The platform’s “Intel-to-Earn” program is underpinned by its native token $ARKM, which incentivizes the production of intelligence. Users who submit information that aids in training ULTRA are also rewarded through the DATA Program.

Following Binance Labs’ endorsement, Arkham’s market performance experienced a surge in price by 22.25%, signaling positive market reception and mitigating previous selling pressure.

However, despite the initial enthusiasm and price boost, investors have exhibited caution, with only a slight increase in holder count from 16,600 to 16,700. Nevertheless, metrics such as Social Volume and Social Dominance have shown an uptick, suggesting a growing interest in ARKM among market participants.

Arkham, which currently holds the 343rd rank in market capitalization with less than $100 million, is perceived by some investors as undervalued. The project’s innovative approach to blockchain intelligence and potential for growth within the crypto ecosystem is considered as the reason behind its undervaluation.

On a separate note, Binance Labs has expanded its investment portfolio by supporting Initia. Initia is a network specially designed for modular rollups that operate on the Cosmos network. This initiative aims to cater to developers looking to create scalable systems without the complications associated with traditional modular and multi-chain systems.

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