Arkham Exchange shifts to a fully decentralized model as leadership backs onchain trading growth.
CEO Miguel Morel says the future of crypto trading lies in decentralized platforms.
Arkham pivots strategy as decentralized exchange volumes surge across derivatives markets.
Arkham Exchange is pivoting from a centralized model to a fully decentralized trading platform, according to its chief executive Miguel Morel. The company confirmed the shift after reports suggested the exchange planned to shut down. However, leadership clarified that operations will continue under a redesigned structure. The move signals a strategic reset rather than a closure.
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Morel stated that the company feels that decentralized infrastructure is the future of crypto trading. He placed the transition as a long-term commitment, rather than a short-term adjustment. Consequently, Arkham will reconstruct its exchange on the basis of onchain performance and decentralized processes. The company is currently trying to match the trading services to that larger evolution of the market.
Competitive Pressures and Volume Gaps
Arkham Intelligence, founded in 2020, launched Arkham Exchange in 2024. The analytics company expanded into trading to compete with major centralized exchanges. It introduced spot trading in several U.S. states and later added perpetual contracts. In addition, the firm released a mobile application to attract retail traders. It also announced plans to launch a retail-focused crypto derivatives exchange in 2024.
Nonetheless, Arkham did not succeed in reaching the scale of the established competitors. According to CoinGecko statistics, the exchange records approximately $640,000 in daily trading volume. Binance handles around $9 billion of daily transactions. Coinbase manages the daily $2 billion. The difference underscores the dominance of large centralized venues. Arkham also partnered with CoinGecko in 2024 so as to expand token data coverage, especially for DEX-traded tokens, and enhance user analytics.
Shift Away From Centralized Infrastructure
Arkham will now move away from centralized custody and internal matching systems. Instead, the platform will operate through decentralized frameworks. That change reflects leadership’s view that crypto trading must return to onchain foundations. The company believes decentralized exchanges offer stronger alignment with crypto’s original design.
The pivot follows months of debate over centralized exchange practices. Industry participants have increasingly questioned listing standards, custody risks, and fee structures. At the same time, decentralized platforms have expanded their share of total trading volume. Arkham appears to see that shift as an opportunity.
Morel framed decentralization as the natural next stage for crypto markets. Thus, Arkham will focus on decentralized product development. The company has not provided a schedule of the complete migration. It also refused to give remarks on a possible workforce change.
Industry Trend Supports Strategic Reset
The progress of decentralized exchanges has been stable since 2020. The ratio between the decentralized and centralized trading volumes has risen sharply. Perpetual decentralized exchanges saw a high growth in 2025. Volumes rose as much as $4.1 trillion to around $12 trillion in the year.
That expansion reflects rising demand for onchain derivatives trading. Traders increasingly choose platforms that allow direct asset control. Arkham’s leadership believes that trend will continue. Consequently, the exchange will reposition itself within that growing segment.
Arkham Intelligence counts Sam Altman, Draper Associates, Binance Labs, and Bedrock among its backers. The firm reports more than 3 million registered users across its services. Meanwhile, Arkham’s native token ARKM declined 3.6% over the past 24 hours to $0.1133.
The exchange remains operational as it transitions toward a fully decentralized structure. Further details on the rollout are expected as development progresses.