How Arkham Is Changing the Game with Their New Exchange

Welcome to our exclusive AMA session with Miguel Morel, CEO and founder of Arkham. Arkham is a cutting-edge project that brings together two powerful components of the crypto space: Arkham Intelligence — one of the most advanced platforms for on-chain analytics, and Arkham Exchange — a full-featured crypto exchange offering both spot and perpetual futures trading across a wide range of pairs.

In this conversation, Miguel Morel dives into the origins and vision behind Arkham, the key milestones the team has achieved, the core focus areas of the platform, and what lies ahead in their ambitious roadmap.

BeInCrypto: Today we welcome Miguel Morel, CEO at Arkham 🙌

🗣 COMMUNITY

As usual, I’ll have some questions for Miguel. After that, he will answer 5 questions from your previously chosen 💁🏻‍♀️

Please introduce yourself. What is Arkham?

Miguel Morel: I founded Arkham in January 2020 with the original vision of bringing greater transparency to the crypto space. Before that, I was working on a stablecoin project. When your product is an ERC-20 token, you naturally want to understand who your users are and how they’re interacting with your token. If it’s a utility token, you’d also want to monitor the activity of market makers, token inflows and outflows on exchanges, and the behavior of large holders—are they holding, selling, or accumulating for some reason? And more fundamentally, who are these users?

At that time, identifying who was behind certain wallets or addresses across multiple chains was a common yet difficult task. Tools like Etherscan couldn’t really help with that. You had to switch between different blockchain explorers—TronScan for Tron, Etherscan for Ethereum, and so on.

So I had the idea of integrating everything into a single product—Arkham. It’s a multi-chain block explorer where you can view real transaction activity across all major chains. More importantly, we analyze address ownership and label entities accordingly. Users can log in and access these insights for free.

That was the starting point of Arkham. After launching publicly in July 2023, we began sharing the product with friends, partners, market makers, trading firms, and token project teams. We told them that if they wanted to track token holders or monitor on-chain activity of investments, Arkham was a great platform for it.

From there, our user base began to grow rapidly. Between August and December 2023, we reached 10,000 users. From January to July 2024, we surpassed 1 million. Today, we have over 6.5 million registered users.

In terms of usage and traffic, I can confidently say that Arkham is now one of the largest blockchain analytics providers in the crypto space. That’s how it all started.

BIC: Why did Arkham decide to start its own crypto exchange?

Miguel Morel: We started by analyzing our user base and the broader market and realized that the vast majority of people using our platform were actually crypto traders. While journalists and institutions also use Arkham to research projects and stay informed, most of our millions of users are either retail or professional traders. They rely on our on-chain intelligence to inform their trading decisions. So we thought—why not serve those users directly by offering trading functionality? That’s when we decided to integrate crypto trading into the Arkham platform and eventually build a centralized exchange.

BIC: What problems or gaps did you want to fix with Arkham Exchange?

Miguel: Now, if you’re browsing a token page or tracking on-chain activity within Arkham, you’ll not only see detailed intelligence but also have the option to trade directly through a “Trade” button. If you see that someone is dumping a token and want to short it, you can just click the trade button, complete KYC, and—if you’re in a supported region—immediately access spot or derivative trading.

This created a strong product-market fit: traders already using our intelligence tools were also looking for secure, trustworthy, and transparent platforms to execute trades. Our goal is to serve these users by offering both analytics and execution—an all-in-one platform.

That’s the evolution of Arkham—from a pure on-chain analytics provider in 2023 to a full-fledged intelligence and trading platform in 2025.

BIC: What makes Arkham Exchange different from other big crypto exchanges? What special features do you offer?

Miguel: Today, over 1,000 institutions use our intelligence and analytics tools to guide their trading decisions.

Even before we launched the exchange functionality, thousands of top-tier trading firms, hedge funds, and market makers—both from traditional finance and crypto-native backgrounds—were already using Arkham data. These users form the foundation of our customer base.

We work closely with them, mainly through API integrations, to deeply understand the features and user experience they truly want in a product. Our goal is to serve both sides of the market:

On one hand, we’re focused on retail users. We’re currently developing a mobile app for iOS and Android so users can trade on Arkham directly from their phones—currently, our platform is web-only. This mobile experience will be our core product for the general user base.

On the other hand, we’re enhancing trading capabilities and liquidity infrastructure to meet the needs of institutional users with large capital and complex strategies.

BIC: How do you keep users safe and protect them from scams on Arkham Exchange?

Miguel: Arkham Exchange offers user protection through several measures. These include KYC (Know Your Customer) verification, secure data storage, and transparent proof of reserves. Arkham Exchange also uses technical, organizational, and physical safeguards to protect personal data. As we are now licensed in the U.S it is a proof that we meet the highest standards of user protection that are demanded by the regulators.

BIC: How does Arkham Intel technology work with the exchange?

Miguel: We are continuously working to integrate our intelligence and exchange systems. Right now, users can already use any Intel dashboards or configure their own and receive live blockchain alerts – for example, via Telegram bot. Users can then switch to the exchange and use this information to inform their trading decisions. Up next, we will automate this process.

BIC: What are the benefits of Arkham Intel for people trading on your platform?

Miguel: In short, users can “trade with intelligence” – or make more informed decisions on their trades based on the objective data from the intelligence platform. For example, if you see a big entity doing significant moves that can potentially affect the market, you’ll be the first to know and act accordingly.

BIC: Can you give some examples of how Arkham Intel helps users understand the market better?

Miguel: Sure here are some examples:

Competitive Intelligence: Businesses can use Arkham to monitor the blockchain activities of competitors, understanding their transaction patterns, partnerships, and investment strategies to make informed strategic decisions.
Due Diligence: Before entering partnerships or investments, companies can analyze the blockchain activities of potential partners or investment targets to assess their financial health and integrity.
Market Analysis: By tracking the flow of assets and identifying emerging trends in the crypto market, businesses can adapt their strategies to capitalize on market movements.
Risk Management: Companies can monitor transactions related to their business to identify potential risks, such as fraudulent activities or association with dubious entities.

BIC: Which markets is Arkham Exchange focusing on right now, and why?

Miguel: We currently have a license in 17 U.S states and plan to expand to all 50. I’ve always believed that there’s strong demand for crypto assets in the U.S.—it’s just been suppressed due to regulatory constraints. Of course, we still can’t offer perpetual futures trading to retail users in the U.S. yet, but I believe that’s where things are headed. Keep in mind, the U.S. equities market already has a well-established framework for futures, options, and other derivatives. And in terms of transparency, the crypto market is arguably even clearer than traditional finance.

So as the U.S. market gradually opens up, and regulations become clearer and allow for compliant operations, we want to be at the forefront of that wave—offering a full suite of products and services to American users.

Additionally, we are expanding to many other markets globally.

BIC: What are your key development plans for the exchange in the near future?

Miguel: Our long-term goal is to fully integrate our intelligence and exchange systems.

Ideally, users will be able to configure dashboards, set on-chain monitoring targets, and create custom alerts. Once an alert is triggered, they’ll be able to initiate trades immediately, based on real-time on-chain intelligence. That’s our ultimate product vision for Arkham—a seamless, closed-loop system that connects intelligence and execution.

BIC: Great! Now let’s move to my favorite part — questions from our Community 🖤I saw you have chosen the next questions 👇

@CALLERVEGETA: How does Arkham utilize AI and machine learning in its intelligence attribution processes, and what advantages does this provide in decoding complex wallet behaviors across chains?

Miguel: Our labels are created using various publicly available data sources, both on-chain and off-chain. We use machine learning and other proprietary methods to identify wallets of specific entities and clusters of addresses. Ultimately every strategy we use to identify wallets is vetted by our intel team with special attention on the largest players in the space. In an effort to ensure quality of labels we strive for 95%+ accuracy when deciding what strategies are employed for labeling.

BIC: @baobaovietnam: How can traders, investors, and risk managers use Arkham’s analytics and dashboards to gain insights into whale movements, token flows, or large transaction alerts in real time?

Miguel: In traditional finance, analysts and investors use quarterly filings such as 13F forms in order to assess the asset positioning of other firms and companies – in crypto we don’t have to wait 90 days, using on-chain activity this information of what people are buying or selling is surfaced immediately. Traders then use this information to determine what their own relative positions should be given this new info in the market.

BIC: @Rosannacouch2000: To what extent is Arkham expanding cross-chain intelligence capabilities, and how does it manage data integration across different blockchain ecosystems like Ethereum, Solana, and BNB Chain?

Miguel: When we first founded Arkham, we were exclusively focused on providing data for Ethereum. Over the years more chains have established their position as leading ecosystems in the industry for both builders and users. As their communities grow, we listen to their requests for support, and we try to integrate as many as we can into our platform.

BIC: @hauzf: What types of users are most likely to benefit from Arkham’s exchange model—such as law enforcement agencies, hedge funds, investigative journalists—and how is the platform tailored to meet their specific needs?

Miguel: We have a mixed user base. It is split between retail traders and investors, and institutional trading and research firms. We’ve purposefully kept our platform use cases as broad as possible to serve as a pillar of research and analysis for the entire crypto ecosystem – a strategy which has worked quite well for us and allowed us to capture a large number of users quickly.

BIC: And the last question is from @kieule0701: What types of users are most likely to benefit from Arkham’s exchange model—such as law enforcement agencies, hedge funds, investigative journalists—and how is the platform tailored to meet their specific needs?

Miguel: There is a fundamental paradox between two of the technological features of blockchain – pseudonymity and transparency. These two pillars of blockchain technology exist in parallel, and are positive and negatives for different use cases and audiences. We lean into the transparency elements of the chain – providing auditable data for everyone to see. Others, such as privacy chains, lean into the pseudonymity elements of blockchain. These realities can both be true and provide benefits to their respective users.

The AMA session with Miguel Morel gave us a deep dive into the Arkham ecosystem — from its powerful on-chain analytics platform, Arkham Intelligence, to its crypto exchange Arkham Exchange, offering spot and perpetual futures trading. Miguel highlighted how Arkham leverages AI and machine learning to power its intelligence attribution, enabling users to make smarter, data-driven decisions.

Big thanks to Miguel Morel for shedding light on the future of on-chain intelligence and crypto trading, and for taking the time to answer questions from the BeInCrypto community.

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