Arkham Token Public Sale on Binance Draws 100,000 Participants and $2.5M Raised

Source: Adobe/prima91

Binance has concluded its public sale of ARKM tokens on behalf of on-chain analytics provider Arkham Intelligence, bringing in nearly $2.5 million worth of BNB, the exchange Announced Tuesday.

In total, the sale raised 10,288 BNB tokens from 114,454 participants, the exchange said.

Each ARKM token sold for 0.00020576 BNB, or roughly $0.05, with a total of 50 million ARKM tokens sold.

Source: Binance

The token’s launch received strong interest from investors who, combined, pledged up to 10.18 million BNB (worth $2.45 billion), leading to it being oversubscribed 990 times.

Three investors reached the hard cap allocation set for individual participants of 300,000 ARKM (approximately $14,865) and thus their allocation was passed on to the remaining users, Binance said.

ARKM was offered for sale via Binance Launchpad, the exchange’s own platform for so-called Initial Exchange Offerings, or IEOs for short.

Following the initial token launch, ARKM was listed in Binance’s “innovation zone”, which is a category designated for higher-risk digital assets with low liquidity.

Trading is available on ARKM/BTC, ARKM/USDT, ARKM/TUSD, ARKM/BNB and ARKM/TRY pairs, with zero fees for limit orders (maker trades) on ARKM/TUSD.

Aside from the release on Binance, some of the early adopters of Arkham can also claim the ARKM tokens as an airdrop.

At press time on Wednesday, ARKM was trading at $0.64 on Binance and decentralized exchange Uniswap, significantly higher than Launchpad’s initial asking price, but nearly 7% lower on the day.

ARKM token price. Source: CoinMarketCap

‘A token of intelligence to win’

On its launch page on Binance Launchpad, ARKM is described as “an intelligence token to win that drives blockchain transparency with AI.”

“Arkham’s intelligence-to-win economy incentivizes the provision of data intelligence at scale and makes it available to all to provide greater clarity and transparency in the crypto industry,” Binance’s own research team wrote about the project.