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Home News Binance Labs Invests in AI-Powered Blockchain Firm Arkham

Binance Labs Invests in AI-Powered Blockchain Firm Arkham

by sun

In a strategic move to bolster innovation within the blockchain space, Binance Labs, the venture capital arm of the world’s largest cryptocurrency exchange, Binance, has announced a notable investment in the AI-powered blockchain intelligence firm, Arkham. The investment aims to support Arkham’s cutting-edge platform, which operates with the proprietary AI engine ULTRA, designed to enhance transparency within the cryptocurrency industry.

Arkham’s pioneering technology utilizes ULTRA to deanonymize blockchain transactions, providing users with the capability to explore transaction histories and algorithmically match addresses with real-world entities, thereby fostering increased transparency. The endorsement from Binance Labs signifies a crucial step in advancing Arkham’s mission to revolutionize the way blockchain intelligence is utilized.

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In addition to its analytical capabilities, Arkham has introduced the Arkham Intel Exchange. This on-chain marketplace facilitates the buying and selling of blockchain intelligence on a large scale. The platform’s “Intel-to-Earn” program, supported by Arkham’s native token $ARKM, incentivizes intelligence production. Users are also rewarded through the DATA Program for submitting information that aids in training the ULTRA engine.

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Following Binance Labs’ announcement on Wednesday, the market performance of $ARKM experienced a noteworthy 22.25% surge, indicating a positive reception and mitigating previous selling pressure. While investor caution resulted in only a slight increase in holder count from 16,600 to 16,700, metrics such as Social Volume and Social Dominance have shown an uptick, suggesting a growing interest in $ARKM among market participants.

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Arkham, currently ranking 343rd with a market capitalization under $100 million, has attracted attention from investors who perceive the project as undervalued, given its innovative approach to blockchain intelligence and potential for growth within the crypto ecosystem.

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In a separate investment endeavor, Binance Labs has expanded its portfolio by backing Initia, a network designed for modular rollups operating on the Cosmos network. This initiative targets developers seeking to create scalable systems without the complexities associated with traditional modular and multi-chain systems.

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