The latest altcoin project launched by Binance Launchpad has jumped 16x from the first minutes. The new coin, which was attacked by investors, doubled its pre-sale price in minutes.
Binance Launchpad’s 32nd altcoin project suffers investor attack
cryptocoin.com As we have reported, Arkham (ARKM), the 32nd altcoin project of Binance Launchpad, would begin its final token distribution on July 18. The pre-sale period, which started in the past hours, triggered an increase of 1,600% in ARKM price.
The first 5-minute period of the pre-sale is adjusted so that the price remains constant. The ARKM price jumped 16x within minutes when this limitation remained. After breaking above $0.80 at one point, it bounced back to $0.73 levels, according to CMC data.
More than 7,000 addresses claimed airdrop rewards
Arkham is also completing the airdrop distribution simultaneously with the pre-sale. As of now, more than 7,000 addresses have claimed the airdrop rewards. Most addresses received airdrop rewards of around 197 ARKM, but some received thousands.
Institutional investors show interest in altcoin project
ARKM also started trading on the Binance board at 15:00 today. A significant increase in liquidity was achieved for the token following the listing. GSR Markets, one of the relevant market makers, purchased 20 million ARKM with 4.5 million tokens sent to Binance and 2 million tokens sent to another cryptocurrency exchange Bybit.
The other market maker Wintermute collected 15 million ARKM. He sent 6 million of this allocation to Binance and 2 million to Bybit.
In a recent update, Arkham transferred 30 million ARKM from the Treasury to the airdrop contract at 0x08c7. The transfer, which took place about an hour ago, was shared among the airdrop participants.
What is Arkham (ARKM)?
Arkham (ARKM) is the native cryptocurrency of the Arkham Platform, a decentralized exchange (DEX) and platform. ARKM serves 3 purposes. First, it functions as the local currency for the Arkham Intel exchange and the earned intelligence economy. The second is that the platform is used in the incentive structure for rewards and discounts. Third, Arkham coin is also the management unit for Arkham Intel Exchange. DAO is an important aspect of this platform. Here, participants can submit improvement proposals, called AIPs, for a number of things like updating the exchange’s smart contract, voting to change exchange fees, and more.
Arkham currently offers multi-chain support for a wide variety of networks, including Arbitrum, Avalanche, BNB Chain, Ethereum, Optimism, Polygon and Tron. The Arkham platform showcases interesting features such as cross-chain portfolio aggregation. In addition, on the home panel, users can view the network status panel, which displays a wide range of data including gas prices and more.
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