What Happened?
Arkham’s blockchain analytics token, $ARKM, saw a 6.5% increase in the past 24 hours, contributing to a total monthly gain of over 50%. The current trading price is $0.7567, with a recent peak of $0.8382, as traders maintain a positive outlook towards the token. Market participants are hopeful that $ARKM might revisit its 2024 high of $3.99 due to ongoing bullish sentiment.
Who Does This Affect?
This development primarily affects traders and investors involved with Arkham and other blockchain analytics platforms. Competitors like AI agent AIXBT and Kaito are also noteworthy players in this space with higher valuations, which impacts the competitive landscape. Additionally, Arkham’s new wallet tracking feature linked to major social media influencers provides traders with strategic insights, potentially influencing market behavior.
Why Does This Matter?
Arkham’s recent gains suggest strong buying interest and a potential market shift towards blockchain analytics, which could lead to increased capital inflow into similar projects. While Arkham is currently undervalued compared to its competitors, its unique position with the Arkham Exchange and technical indicators pointing towards further price growth could lead to significant market revaluation. Key support and resistance levels will be crucial for determining $ARKM’s future price trajectory, with a potential target of $1.79 on the horizon.