Arkham Intelligence has denied recent reports that its crypto trading arm, Arkham Exchange, was shutting down due to weak usage. Instead, the blockchain analytics firm says it is transitioning the platform from a centralized exchange (CEX) to a fully decentralized exchange (DEX).
The original rumors suggested Arkham might close its exchange after struggling to attract trading volume compared with major crypto venues. But the company’s CEO, Miguel Morel, made it clear in comments on reports that the move is a strategic pivot, not a shutdown.
What Arkham Is Changing and Why It Matters
Arkham Exchange was launched in 2024 by blockchain analytics firm Arkham Intelligence to offer spot and perpetual trading. The platform added a mobile app by late 2025 but consistently reported modest daily volume, around $640,000 according to CoinGecko data, far below major competitors like Binance or Coinbase.
Rather than closing the exchange, Morel said the company plans to rebuild it on a decentralized infrastructure, where users trade directly from their own wallets via smart contracts, the model commonly used by DEXs like Uniswap and dYdX. He framed the shift as responding to evolving user needs and broader industry trends toward decentralized trading.
Morel stated, “The future of crypto trading is decentralized, and that’s what we’re building towards.” He criticized some centralized platforms for becoming “bloated and unresponsive,” suggesting that decentralized systems are “cheaper, faster” and give users custody of their own assets.
What This Means for the Platform and Users
Under the new plan:
- Arkham Exchange will stop operating in a traditional centralized way, where the company holds customer funds and manages order books.
- It will instead move to a decentralized system where trades happen on-chain via smart contracts, and users keep control of their assets.
- No firm timeline has been announced yet for when the DEX transition will be fully live.
The pivot aligns with broader industry signals: decentralized exchange traffic and on-chain derivatives volume have been growing rapidly. In 2025, perpetual DEX volume nearly tripled, showing rising demand for non-custodial trading options.
For traders and ARKM token holders, this shift could bring both opportunities and challenges. A successful DEX may attract liquidity and interest from users tired of centralized exchange limitations. But decentralized platforms also require robust technology, smart-contract security, and community trust before they can compete with established CEXs.
Why Rumors Spread and What’s Next
The shutdown rumors likely stemmed from Arkham Exchange’s relatively low trading volumes, especially compared with major centralized exchanges that report billions in daily activity. Some third-party reports suggested usage had “failed to sparkle,” prompting speculation about closure, though Arkham disputed that narrative.
The company has chosen to reframe the story as evolution and strategy rather than exit. How smoothly the transition plays out, and whether it succeeds in attracting more traders and liquidity, will be key focuses for the crypto community in the coming months.
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