{"id":84489,"date":"2024-07-20T21:49:24","date_gmt":"2024-07-21T01:49:24","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=84489"},"modified":"2024-07-20T21:49:27","modified_gmt":"2024-07-21T01:49:27","slug":"arkham-transfers-487m-arkm-tokens-to-coinbase-prime-why","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/arkham-transfers-487m-arkm-tokens-to-coinbase-prime-why\/","title":{"rendered":"Arkham Transfers $487M ARKM Tokens To Coinbase Prime; Why?"},"content":{"rendered":"\n

Arkham Intelligence moves $487M in ARKM Tokens to Coinbase Prime<\/a> to ensure regulatory and tax compliance. Arkham's CEO's holdings are involved in this transfer.<\/p>\n\n\n\n

\"Arkham
Arkham Transfers $487M ARKM Token To Coinbase Prime; Why?<\/em><\/figcaption><\/figure>\n\n\n\n

Arkham Intelligence\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> has completed a significant token transfer, transferring nearly half a billion dollars worth of its native ARKM tokens to Coinbase Prime. In the crypto community, this strategic move involving hundreds of millions of tokens, including a substantial portion possessed by the company's CEO, has elicited concern. The transfer is driven by regulatory compliance and tax obligations, as stated by the firm.<\/p>\n\n\n\n

ARKM Token shift<\/strong><\/h3>\n\n\n\n

Arkham Intelligence, a blockchain analytics firm, has substantially advanced the cryptocurrency sector by transferring 304.5 million ARKM tokens, valued at approximately $487.24 million, from its vesting contract to Coinbase Prime. The CEO's ownership of 115.8 million ARKM tokens ($185.28 million) was transferred on July 18, 2024.<\/p>\n\n\n\n

The company asserted that this transfer is essential for regulatory and tax compliance. The procedure entails the retrieval of ARKM tokens from current vesting intelligent contracts and their subsequent transfer to an intermediary address before their final transfer to Coinbase Custody addresses.<\/p>\n\n\n\n

They clarified that this action will lead to Coinbase Custody overseeing the ARKM vesting process for the company's employees. The custodial arrangement will be subject to compliance and transaction surveillance, and it will adhere to a trading plan that follows the pre-established, three-year unlock schedule.<\/p>\n\n\n\n

It is essential to mention that the tokens of the team, investors, and advisors entered a linear unlocking cycle on July 18. These three groups' current daily unlocking volume is approximately 324,200 ARKM tokens, valued at roughly $518,000.<\/p>\n\n\n\n

Future Prospects and Market Influence<\/strong><\/h3>\n\n\n\n

Arkham's current price is $1.61, with a 24-hour trading volume of $50.2 million. This price indicates a 2.76% decrease over the past 24 hours but a 17.69% increase over the previous week. The market cap is presently valued at $390.2 million, with a circulating supply of 240 million ARKM.<\/p>\n\n\n\n

This token initiative by one of the blockchain industry's most prominent analytics firms has garnered significant attention. The crypto community<\/a> will likely be attentively monitoring the impact of this transfer on ARKM's market price and liquidity in the coming days. Investors and market analysts will be particularly intrigued by the potential impact of this action on the token's performance and position within the broader cryptocurrency ecosystem.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Arkham Intelligence moves $487M in ARKM Tokens to Coinbase Prime to ensure regulatory and tax compliance. Arkham’s CEO’s holdings are involved in this transfer. Arkham Intelligence has completed a significant token transfer, transferring nearly half a billion dollars worth of its native ARKM tokens to Coinbase Prime. In the crypto community, this strategic move involving […]<\/p>\n","protected":false},"author":59,"featured_media":54307,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[16250,20687,17884],"class_list":["post-84489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-arkham-intelligence","tag-arkm-tokens","tag-coinbase-prime"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/07\/croc_1689106475394.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=84489"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/54307"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=84489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=84489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=84489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}