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- The ARKM token, linked to Arkham’s ecosystem, has surged and broken through the $0.50 resistance zone after the Binance news.
- Arkham’s intelligence platform utilizes its proprietary AI engine, ULTRA, to connect blockchain addresses with real-world entities.
Earlier this week on Wednesday, November 15, Binance Labs revealed an investment in the blockchain intelligence firm Arkham. The native token, ARKM, exhibited a breakout from a descending resistance trend line and surpassed the $0.50 resistance zone.
Arkham, a blockchain intelligence firm, employs its proprietary technology, Ultra, to transform raw blockchain transaction data into a detailed profile of cryptocurrency users and their actions. This valuable intelligence serves exchanges, trading firms, and individuals. Arkham’s objective is to enhance transparency in the crypto industry by deanonymizing blockchain transactions. The Arkham Intel Exchange, the world’s first on-chain Intelligence Exchange, is a key component of this mission.
We’re excited to announce we have invested in $ARKM, the native token of @ArkhamIntel!
Arkham is an AI-powered blockchain intelligence and data platform that provides granular information and visualization tools for on-chain activity.
Read more👇https://t.co/EGMpsoIFct
— Binance Labs Fund (@BinanceLabs) November 15, 2023
Arkham’s intelligence platform leverages its exclusive AI engine, ULTRA, to algorithmically link addresses with real-world entities. This empowers users with searchable and sortable transaction histories on entity and token pages, alongside network visualizations mapping entity relationships and fund flows. This enhances transparency in the crypto industry.
Arkham introduces the groundbreaking Arkham Intel Exchange, the world’s first on-chain intelligence exchange. This decentralized intelligence economy facilitates scalable matches between buyers and sellers of blockchain intelligence, enabling users to capture value for their work through the “Intel-to-Earn” mechanism.
The platform incentivizes intelligence production as a public good via bounties, auctions, and rewards, all powered by the $ARKM token. Additionally, the DATA Program rewards users for submitting intelligence used to train ULTRA, the proprietary AI engine.
Arkham (ARKM) Price Prediction
Arkham Intelligence’s native crypto ARKM is witnessing strong momentum following the news and the recent altcoin market rally.
On the daily time frame, technical analysis indicates that ARKM price broke out of a descending resistance trend line on November 10, which had been established since the all-time high of $0.89 on July 18. Following the breakout, ARKM surged to $0.61, reclaiming the $0.50 horizontal resistance area and is currently in the process of confirming it as support.
Market traders rely on the Relative Strength Index (RSI) as a momentum indicator to discern overbought or oversold conditions and make decisions on asset accumulation or sale. Readings above 50 and an upward trend signal a bullish advantage, while readings below 50 suggest the opposite.
The daily time frame RSI aligns with the ongoing ARKM price increase, showing an upward trend and a reading above 50, indicative of a bullish trend. If the upward momentum persists, the primary resistance will be at $0.67, 25% higher than the current price. A breakthrough beyond this level could potentially lead to a 65% surge, reaching an all-time high of $0.89.
However, the bullish outlook for ARKM is contingent on maintaining support above the $0.50 area. A close below this level introduces a risk to the upward movement, possibly resulting in a 30% decline to validate the descending resistance trend line at $0.37.
As per reports earlier this year, Arkham Intelligence also had strong investments in the Grayscale Bitcoin Trust (GBTC).
