Arkham Exchange has ceased operations less than a year after its launch, citing low trading volume and insufficient liquidity as primary reasons. Despite efforts to expand from analytics into derivatives and spot trading, the platform failed to attract significant user engagement, with daily trading activity barely reaching $620,000. This low volume rendered market-making and fee structures unsustainable, especially when compared to leading exchanges processing billions daily. Initially launched in October 2024, Arkham Exchange aimed to offer perpetuals and leveraged products for professional traders. However, its expansion into spot trading and the introduction of a mobile app did not generate the expected traction. The closure highlights the challenges faced by new exchanges in a competitive market dominated by established players with deep liquidity. Current market conditions, with Bitcoin trading around $66,988 and Ethereum at $1,950, underscore the volatility and competitive pressures that emerging platforms like Arkham face.