ARKM experienced a surge of up to 55% after it was listed on the South Korean cryptocurrency exchange Upbit, although it quickly retraced most of those gains within hours.
On March 11, an announcement on X from Upbit Korea revealed that the altcoin was added to its USD market, with trading commencing at 16:00 KST on Tuesday, March 11, 2025.
Following the announcement, Arkham (ARKM) displayed a “god candle” pattern, jumping from $0.47 to $0.70 in just 10 minutes. At that point, its market capitalization surpassed $220 million, with daily trading volumes around $154 million.
The uptick in ARKM prices also coincided with the launch of Arkham Exchange in China on the same day, generating substantial excitement within its community.
Arkham Exchange is a cryptocurrency trading platform established by Arkham Intelligence in November 2024. The platform provides both spot and perpetual trading services, incorporating advanced analytical tools and real-time market data.
As the native token of the Arkham ecosystem, ARKM facilitates trading fee reductions, incentive initiatives, and opportunities for governance participation on the exchange.
This expansion into China likely heightened demand for ARKM, as more traders and investors in the region gained platform access.
Recently, large holders have shown increasing interest in ARKM, with data indicating a rise in addresses owning between 10,000 to 10 million ARKM tokens, compared to the previous day. This growth hints at accumulation among larger investors who may view the altcoin as having long-term potential rather than just focusing on quick returns.
Additionally, consistent net outflows from exchanges have been noted since mid-January.
Nevertheless, despite these factors, ARKM has retraced most of its gains, only posting a 5.8% increase in value over the past day as of the latest update, while its daily trading volume ballooned to $366 million during this period.
ARKM Price Analysis
On the 1-day USDT chart, ARKM is currently trading above the descending trendline that had constrained it from December 7 to February 22, indicating a possible exit from a protracted bearish trend.
The MACD and signal lines are positioned close to each other and below the price level, signaling weak bullish momentum. This conclusion is further supported by a Relative Strength Index reading of 37, significantly below the neutral mark of 50.
Consequently, ARKM may find it challenging to establish a lasting upward trend unless buying pressure significantly increases. Although it has technically broken free from its downtrend, a stronger confirmation of bullish momentum is necessary for additional gains.
On a positive note, some indicators suggest an underlying demand that may help mitigate selling pressure.
According to recent data, derivative traders have ramped up their bets on ARKM’s price fluctuations, with open interest in the futures market surging by over 100% in just a day.
At the same time, social sentiment regarding the altcoin has recently shifted positively, largely due to new developments.
Disclosure: This article is not intended as investment advice. The information and materials provided here are for educational purposes only.