Arkham Exchange is not shutting down, despite reports to the contrary, and is instead redesigning itself as a decentralized trading platform, the company confirmed to Cointelegraph.
The crypto trading platform launched by data analytics firm Arkham Intelligence is shifting from a centralized model to a fully decentralized exchange (DEX), Arkham CEO Miguel Morel told Cointelegraph on Wednesday.
“The future of crypto trading is decentralized, and that’s what we’re building towards,” Morel said.
Launched in 2024, Arkham Exchange allows users to trade both spot crypto and perpetual contracts. The platform launched a mobile app in late 2025. At the time of writing, Arkham reports average daily trading of around $640,000, according to CoinGecko data.
Centralized platforms have become “unresponsive” to user needs
Arkham’s shift to a DEX comes as debate intensifies over how centralized exchanges (CEXs) manage token listings, with decentralized rivals increasingly viewed as offering greater flexibility and openness.
“Centralized incumbents have become bloated and unresponsive to user needs, becoming worse than the traditional financial systems they pretend to improve on,” Morel said, adding: “We don’t want to invest in that.”
The move also aligns with a broader industry trend, as DEX-to-CEX trading volume ratios reached new highs in 2025 after more than tripling since 2020, according to CoinGecko.
Perpetual DEXs in particular saw explosive growth. In 2025, perp DEX volumes almost tripled their volumes, from $4.1 trillion at the start of the year to as much as $12 trillion. The surge reflected a sharp spike in onchain derivatives usage, as perp DEXs absorbed a growing share of leveraged crypto trading activity.
Related: Ledger adds OKX DEX integration for on-device token swaps
“Decentralized trading, especially for perpetuals, has exploded because it is a return to what made crypto so exciting in the first place,” Morel said, adding:
“It is cheaper, faster, and gives users custody of their own assets. We are excited about returning to the financial frontier and delivering the best trading experience for our users.”
Arkham did not immediately respond to Cointelegraph’s request for additional details on the timeline for its transition to a DEX. This article will be updated if and when further information becomes available.
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