---
title: What's Driving Token Prices? April 19, 2023
description: Join Arca's Director of Research, Katie Talati, to learn about what is driving SOL, UNI, XCH, & RPL token prices in the digital asset ecosystem.
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# What's Driving Token Prices? April 19, 2023

[![Katie Talati](https://www.ar.ca/hubfs/Katie%20Talati.png)](https://www.ar.ca/blog/author/katie-talati)

 Written by [Katie Talati](https://www.ar.ca/blog/author/katie-talati)

 Apr 19, 2023

**Join Katie Talati, Arca’s Head of Research, weekly on Wednesday at 4PM EST / 1PM PST as she shares notable token activity over the past week and her insights on what market events drove these token price movements.**

Watch Our Founders Video

- **SOL (-3.8%) **-** **Last week Solana announced that its Saga phone would be available to the public beginning on May 8. Currently, a handful of waitlist users have received their phone and early feedback has been very positive. Solana is also in the process of onboarding decentralized wireless network Helium. Helium, which previously ran on its own blockchain network, shut down their blockchain early this week and officially migrated to Solana’s network as of today.
- **UNI (-0.5%)** - Last week, Apple’s App store granted full access to Uniswap’s mobile app, giving the general public the ability to trade on the decentralized exchange’s mobile interface. Notably, the mobile app charges 2.55% when buying crypto using fiat, a high fee, but in line with what Coinbase charges on its retail mobile app. Despite the new product release last week, trading volumes saw a decline similar to the rest of the sector (volumes down -22% WoW).  Uniswap captured 65% of DEX volumes in March, and we will be watching to see if that expands with the new release.
- **[XCH](https://www.chia.net/) (+8.4%)** - Chia Network, the layer-1 (L1) blockchain founded by BitTorrent creator Bram Cohen, confidentially filed an IPO registration with the SEC late last week. The network has long had ambitions to file for an IPO after raising a $61m Series D round in 2021. The blockchain also positions itself as the most secure, compliant, and sustainable L1, therefore the move to file an IPO makes sense.
- **RPL (+25%)** - Decentralized liquid staking provider, Rocketpool, launched its v2 upgrade on Monday enabling withdrawals and lowering the threshold for validators to stake. Specifically, if a node operator wants to spin up a new Ethereum validator, they only need to provide 8 ETH compared to the previous minimum of 16 ETH. The Ethereum network requires 32 ETH per validator which could potentially increase validators and TVL on Rocketpool (TVL is already up +15.25% in the last week since the Shanghai upgrade).

*DISCLAIMER: This commentary is not intended to be investment advice, investment research, or a recommendation. Please consult your investment professional for your own circumstances."*

 

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Disclaimer: This commentary is provided as general information only and is in no way intended as investment advice, investment research, legal advice, tax advice, a research report, or a recommendation. Any decision to invest or take any other action with respect to any investments discussed in this commentary may involve risks not discussed, and therefore, such decisions should not be based solely on the information contained in this document. Please consult your own financial/legal/tax professional.

Statements in this communication may include forward-looking information and/or may be based on various assumptions. The forward-looking statements and other views or opinions expressed are those of the author, and are made as of the date of this publication. Actual future results or occurrences may differ significantly from those anticipated and there is no guarantee that any particular outcome will come to pass. The statements made herein are subject to change at any time. Arca disclaims any obligation to update or revise any statements or views expressed herein. Past performance is not a guarantee of future results and there can be no assurance that any future results will be realized. Some or all of the information provided herein may be or be based on statements of opinion. In addition, certain information provided herein may be based on third-party sources, which is believed to be accurate, but has not been independently verified. Arca and/or certain of its affiliates and/or clients may now, or in the future, hold a financial interest in investments that are the same as or substantially similar to the investments discussed in this commentary. No claims are made as to the profitability of such financial interests, now, in the past or in the future and Arca and/or its clients may sell such financial interests at any time. The information provided herein is not intended to be, nor should it be construed as an offer to sell or a solicitation of any offer to buy any securities, or a solicitation to provide investment advisory services.

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