Binance Sees $2.4 Billion Locked

Arkham Intelligence, a company that specializes in on-chain analytics, recently offered its ARKM tokens for sale on Binance Launchpad.

The public sale, which reached its hard cap of $2.5 million, was met with a great deal of interest from investors, as demonstrated by an oversubscription rate of 990 times, according to data released by Binance.

There are 1 billion ARKM tokens in total, with 50 million of them allocated to Binance Launchpad at a sale price of $0.05 per token, which represents 5% of the total supply.

During the sale, Binance set a hard cap of $2.5 million and used a subscription format. Users’ BNB balances were tracked over a six-day period starting on July 11th to determine the final allocation of tokens.

A total of 114,454 participants committed 10.18 million BNB ($2.4 billion) during this time.

The conversion rate at the end was 4.92 ARKM tokens for each BNB. As per Binance’s information, users who participated in the subscription using 50 BNB received 246 ARKM tokens at a sale rate of $0.05 per token.

Binance has declared that the trading of ARKM tokens on its platform will start at 8 a.m. ET today.

In addition to the Binance launch, early Arkham users can claim ARKM tokens through an airdrop. These tokens were reserved for those who were among the first to use Arkham.

As of now, ARKM has a value of $0.65 on the Uniswap decentralized exchange, which is 13 times higher than its public sale price, The Block online publication notes.

Arkham Intelligence provides a platform for blockchain analytics, allowing for the exchange of data related to blockchain address owners in a secure and anonymous way.

Before the token sale, Arkham had plans to launch an on-chain intelligence exchange that would enable users to buy and sell this data without revealing their identities.

The platform, named “Arkham Intel Exchange,” will reportedly serve as a decentralized protocol. It will be used for the purchase and sale of data and wallet labels, according to its whitepaper.