Blockchain analysis firm Arkham accused its competitors of spreading fear, uncertainty, and doubt (FUD) following questions about the firm’s own local ARKM token transfers. Although the Arkham team did not name any specific competitors, the accusations may address a post published just a few days earlier by another blockchain analysis firm, Nansen.
Notable Developments on the Issue
In a post, Nansen claimed that Arkham had transferred $56 million worth of more than 25.2 million ARKM tokens to unlabelled wallets and the cryptocurrency exchange Binance within the last two days. The Nansen team, stating “Let’s take a look because they won’t show you,” mentioned that the ARKM team had sent tokens to different Binance addresses and a new wallet address, which had no prior activity.
Meanwhile, Arkham stated in its April 9th post that the ARKM movements consisted of tokens whose locks had been released according to the published tokenomics process. In the first transfer, 20 million ARKM tokens were sent to a new wallet address following an approved protocol proposal titled “Distribute Chainlink DON for ARKM Security Verification; Add Support for Solana; Establish Treasury Pool I; Implement Reward Participation.” Developers also explained that 5 million ARKM tokens sent from the ecosystem fund had their locks released according to the tokenomics process.
What’s Happening on the ARKM Front?
When asked about the discrepancy between the number of tokens in vesting wallets and the numbers stated in the tokenomics document, Arkham explained that the vesting wallets would become more active as they received addresses from non-crypto investors and made new hires. The company shared the following statement:
“No early unlock process was conducted, and all team and investor tokens remain completely locked and traceable using the best holders feature on our platform.”
At the time of publication, the fully diluted market value of the ARKM token was $2.047 billion. Despite a spectacular rise last year, partly due to claims surrounding the firm’s use of artificial intelligence in blockchain analytics, ARKM lost about 40% of its value last month. The firm received an undisclosed investment amount from Binance Labs last November.
