The CEO of Arkham says that the company is not shutting down. Rather, it is transitioning from a centralized exchange (CEX) to a completely decentralized approach as the number of DEX derivatives reaches unprecedented levels.
Arkham Intelligence, a data analysis company, said on Wednesday that their crypto trading platform is transitioning from a centralised architecture to a full-fledged decentralised exchange (DEX).Morel’s words make it clear that an earlier CoinDesk report that said Arkham Exchange was closing down was wrong.
Arkham Exchange, which started in 2024, lets people exchange both spot crypto and eternal contracts. In late 2025, the platform came out with a mobile app. According to CoinGecko data, Arkham’s average daily trading volume is about $640,000 as of this writing.
The migration from centralised exchanges (CEXs) is being expedited by user disenchantment. There is considerable discourse regarding the manner in which centralised exchanges (CEXs) manage token listings, while decentralised exchanges (DEXs) are perceived as more adaptable and transparent. Arkham‘s move to a DEX comes at a time when this topic is heating up.
Onchain derivatives drive DEX market growth
CoinGecko says that DEX-to-CEX trading volume ratios achieved new highs in 2025, more than tripling since 2020. This development is also in line with a larger trend in the sector.
Perpetual DEXs, in particular, grew very quickly. In 2025, perp DEX volumes grew almost three times, going from $4.1 trillion at the start of the year to as high as $12 trillion. The jump was caused by a big rise in the use of onchain derivatives, as perp DEXs took on more and more of the crypto trading that used leverage.
“Decentralised trading, especially for perpetuals, has taken off because it brings back the excitement of crypto in the first place,” Morel stated, adding:
It costs less, takes less time, and lets users keep their own assets. We are eager to go back to the financial frontier and give our users the greatest trading experience possible.