CryptoQuant data shows a significant drop in on-chain activity for ARKM, the native token of the Arkham Intelligence platform, after its recent airdrop. Active addresses have decreased by 99% as of July 30, resulting in a 98% decline in transaction volumes.
The ARKM Airdrop: Details
The rapid decline in on-chain activity is less than two weeks after the highly publicized Arkham Intelligence’s airdrop from July 18. The airdrop was meant to incentivize early supporters of Arkham Intelligence, with eligible users receiving ARKM tokens. Arkham Intelligence is a blockchain analytics platform.
Arkham Intelligence said ARKM is a utility and governance token serving multiple functions, including facilitating trading of crypto intelligence data, voting on important development proposals, and distributing rewards. The…
