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Arkham has spent years giving away blockchain intelligence to anyone with a browser. On October 20, it started charging for the good stuff.
The company launched Arkham Enterprise, a paid tier aimed at professional investigators, compliance teams and institutions.
What sits behind the paywall
The centerpiece of the enterprise tier is Tracer 2.0, a tool for following funds hop by hop across the blockchain.
Alongside it comes a case management system. Investigators can use it to organize findings into structured files, which matters when a single probe can sprawl across hundreds of addresses.
The paid tier also adds several features built for risk and compliance work:
- Risk scoring derived from Arkham’s attribution data
- Expanded counterparty visibility, showing who an address deals with
- Custom labeling, so teams can tag wallets with their own internal notes
Those tools sit on top of a dataset Arkham says contains 3.9 billion attributions. The company tracks $1.8 quadrillion in on-chain volume across 16 chains.
The free tier gets a haircut
The launch came with a catch for Arkham’s existing audience. Free users can now see only the 100 most recent transactions per address or entity.
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Arkham did leave Visualizer 2.0 free, so the platform’s graph-style view of wallet connections remains available to everyone. The company has said millions of people use its free analytics platform.
User reaction was mixed.
To soften the blow for the research community, Arkham launched an Enterprise Grants program. It gives qualifying independent researchers and public-interest organizations free access to the enhanced tools.
A distribution play through Google Cloud
Starting October 14, the Arkham API became available on the Google Cloud Marketplace.
Listing on the marketplace lets enterprise clients pay using existing cloud credits. For a large institution, that can mean skipping a lengthy new vendor approval process, since the spend runs through a budget already signed off.
Market reaction and the ARKM token
The ARKM token rose roughly 8% on launch day, despite the backlash over the free-tier changes.
Arkham has also kept expanding its coverage of institutional players since the launch. As of early November, the platform had labeled approximately $3 billion in holdings tied to well-known crypto funds, including CoinShares and VanEck.
