Arkham (ARKM) is a blockchain analytics platform that offers users a decentralized marketplace for purchasing and selling different types of blockchain data. The platform makes use of AI to deanonymize numerous blockchain transactions, and not only that, it provides numerous insights into individuals and businesses that are involved in the above-mentioned activities.
ARKM is the native token of Arkham that is widely used in the network for staking, incentivizing, trading, and intel-to-earn activities. Following the US Presidential Election, the coin has created a huge surge in the market. In this article, we will discuss this sudden price hike as well as the coin’s current status in the market. We will also look into the coin’s future outlook.
ARKM Current Market Analysis
The ARKM token is currently trading at $2.25 in the market. The coin was first listed in July last year. Even though the coin faced an initial setback, it has made a comeback and is performing extremely well in the market. During the last month itself, the coin had a growth rate of 63.83%. At the beginning of October, the coin was trading at $1.3736, and now it has risen by a huge margin. This can be considered huge for any crypto coin.
Even though it showcased a tremendous rally in the market throughout October, it had a slight hiccup during the early November days. But, this all changed with the US Presidential Election on November 5. On the morning of the next day, the coin started slowly gaining ground in the crypto market. And as the election turned in favor of Trump, it shot straight up.
The rally is ongoing even now even though the trading volume of the coin has decreased in the last 24 hours. With a circulation of 225.10 million coins, the market capitalization of the coin stands at a total of $507.33 million.
Factors Influencing Coin’s Growth
Two weeks prior, Arkham has integrated SOL into its on-chain information system. And ‘cause of this, the Arkham network can now monitor the large value transfers that are performed between numerous wallets on the Solana network. This is also one of the factors that have influenced the coin’s growth in the market.
Another major factor that determined the price hike of the coin is the US Presidential Election. With Trump being an active crypto supporter, especially Bitcoin, his victory has fueled the rise in the price of many coins in the market. The ARKM is one such coin. During the time of the election, the coin rose from $1.627 to a high of $2.3240 in the span of 48 hours. As many coins plummeted after the election news settled, there is a chance that ARKM may show the same fate. But the coin is currently not showing any such indications.
ARKM Coin Price Prediction: What The Future Holds For It
In the earlier section, we looked into the coin’s current performance in the market and the various factors that may have influenced its growth in the market. Now, let’s look into what the future holds for the coin. For this, we have prepared a detailed price prediction for it. Kindly refer to it.
| Year | Min Price | Avg Price | Max Price |
|---|---|---|---|
| 2024 | $ 2.24 | $ 1.126355 | $ 10.62 |
| 2025 | $ 3.82 | $ 5.89 | $ 9.04 |
| 2026 | $ 1.864382 | $ 3.18 | $ 5.39 |
| 2027 | $ 2.05 | $ 2.25 | $ 4.20 |
| 2028 | $ 3.52 | $ 4.67 | $ 7.16 |
| 2029 | $ 5.93 | $ 8.96 | $ 14.37 |
| 2030 | $ 5.70 | $ 7.08 | $ 8.38 |
You should keep in mind that the above-given prices are susceptible to changes in market trends and can vary accordingly.
Is ARKM a good investment?
Ranked #127 by CoinMarketCap, it is one of the key coins in the market. With the way its rally is going, it is expected that the coin will further rise in the market in the days to come. After Trump’s victory, the demand for numerous coins has increased by a lot. It is also expected that its price will increase in the years to come.
All of this depicts that the ARKM is a good investment today. But, it’s the crypto market we’re talking about. It is a highly volatile place where anything can happen at any time. So, if you’re considering investing in the coin, it would be better to conduct thorough research about the market trends before proceeding.
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