- Binance’s positive impression of Arkham’s AI made it invest in ARKM.
- ARKM price spiked, but market participants are still wary.
The events surrounding the early bull market (as some market players like to call it) continue to take interesting turns. This time, it’s Binance [BNB] in the spotlight, and not it has nothing to do with its troubles with the U.S. SEC or the exchange itself.
Rather, it was the exchange’s incubator arm, Binance Labs, that announced that it had invested in Arkham [ARKM]. Unlike the more popular Binance exchange, Binance Labs does not operate as an entity for facilitating cryptocurrency trading.
Instead, its objective is to invest in early-stage blockchain projects.
ARKM, on the other hand, is the native token of Arkham Intelligence. The project is an on-chain intelligence platform providing data transparency on the blockchain. It is noteworthy to mention that Arkham launched in July 2023.
However, after rewarding some of its early users with the ARKM token, the project found increasing the number of holders hard. But it seems Binance is coming to its rescue. This was because of its blog post, released on the 15th of November.
Binance has its reasons
Binance, via the statement, noted that its decision to invest in ARKM was mainly because of Ultra. Ultra is the proprietary Artificial Intelligence (AI) engine of Arkham. The feature allows users to track the fund flow of several addresses.
At press time, information available to AMBCrypto showed that Binance did not disclose the exact valu
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Author: Victor Olanrewaju
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