Arkham Intelligence moved $487 million worth of ARKM tokens to Coinbase Prime on July 18, 2024. This shift includes a significant portion owned by the company’s CEO.
The transfer is driven by regulatory compliance and tax obligations. The tokens were reclaimed from vesting contracts and moved to an intermediary address before reaching Coinbase Custody. This custody will manage ARKM vesting for employees, adhering to a pre-set 3-year unlock schedule.
Arkham’s token price stands at $1.61, with a 24-hour trading volume of $50.2 million. Despite a 2.76% decline in the last 24 hours, there’s been a 17.69% increase over the past week. The market cap is valued at $390.2 million.
This move has drawn attention to how it might affect ARKM’s market price and liquidity. The crypto community is closely watching the potential influence on the token’s performance and its broader impact on the cryptocurrency ecosystem.
This strategic shift highlights Arkham’s commitment to regulatory adherence and long-term market positioning.
