--- title: What's Driving Token Prices? March 8, 2023 description: Join Arca's Director of Research, Katie Talati, to learn about what is driving LDO, FTT, AVAX, & UNI token prices in the digital asset ecosystem. image: https://www.ar.ca/hubfs/WDTP%20Thumbnail.jpg --- [![email-sig-logowhite](https://www.ar.ca/hs-fs/hubfs/email-sig-logowhite.png?width=102&height=96&name=email-sig-logowhite.png "email-sig-logowhite")](https://www.ar.ca/) [![Get in Touch](https://no-cache.hubspot.com/cta/default/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3.png)](https://cta-redirect.hubspot.com/cta/redirect/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3) ** ** ** [![Arca](https://www.ar.ca/hs-fs/hubfs/arca_square_576x576.png?width=60&height=30&name=arca_square_576x576.png "Arca")](https://www.ar.ca/) [![Get in Touch](https://no-cache.hubspot.com/cta/default/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3.png)](https://cta-redirect.hubspot.com/cta/redirect/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3) ** ** ** Search **Menu** ** ** [![Data Room](https://no-cache.hubspot.com/cta/default/4536350/72e2934a-0f70-4634-897e-b99fd4807a9b.png)](https://cta-redirect.hubspot.com/cta/redirect/4536350/72e2934a-0f70-4634-897e-b99fd4807a9b) [![Get in Touch](https://no-cache.hubspot.com/cta/default/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3.png)](https://cta-redirect.hubspot.com/cta/redirect/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3) ![](https://www.ar.ca/hubfs/Whats-Driving-Token-Prices-Header.jpg) [Investing Themes](https://www.ar.ca/blog/tag/investing-themes) | # What's Driving Token Prices? March 8, 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) Mar 8, 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 - **LDO (-19%)** - Decentralized liquid staking provider Lido passed a vote today to upgrade its platform to enable withdrawals, with Ethereum’s Shanghai hard fork fast approaching. The Shanghai upgrade will allow withdrawals of staked ETH from Ethereum. Users began staking Ethereum to the PoS version of the chain in December 2020, so this upgrade will enable anyone staking through platforms like Lido to liquidate their position. In addition, on-chain detectives have noted that one of the larger holders of the LDO token has sold all the tokens in their wallet, indicating that some potential sell pressure has concluded. Many believe this wallet holder is Rune Christensen, the founder of MakerDao. - **FTT (-17%)** - FTX launched a lawsuit against Grayscale for charging “exorbitant management fees” and accused them of “improperly preventing redemptions” on its BTC and ETH trusts. The complaint, technically launched by Alameda, claims to own $290M of GBTC and ETHE shares and would be worth over $540M if fees were reduced and redemptions allowed. The lawsuit is unlikely to continue as Grayscale fights the SEC in court over transitioning its GBTC Trust to an ETF. Many market participants do not believe this lawsuit will result in returning money to creditors, but it appears FTX/Alameda is pursuing every avenue. - **AVAX (-11%)** - Layer-1 protocol Avalanche announced yesterday that it partnered with TSM—the largest esports team—to launch TSM’s competitive gaming platform, Blitz, on Avalanche’s blockchain. The Blitz app will allow users to improve their gaming skills and learn specific insights in preparation for participating in Blitz Arena competitions that include prizes. Most interesting about this announcement is that Blitz will use the AVAX token as its gas token on this subnet, which is a divergence from other projects that have chosen to launch a subnet but use their native token for gas.  - **UNI (-6.6%)** - Decentralized exchange Uniswap announced the launch of a mobile app for iOS that allows users to self-custody their assets and trade tokens and NFTs through its exchange. Apple still needs to greenlight the app, so it has only been released to 1,000 users. The app’s introduction could lead to more swaps on Uniswap and greater revenues, but it is unlikely to be impactful in the near term. Regardless, mobile trading is a huge step for DEXs, which have been stuck within the desktop trading interface. *DISCLAIMER: This commentary is not intended to be investment advice, investment research, or a recommendation. Please consult your investment professional for your own circumstances."*   ### Subscribe For the Latest Blockchain News & Analysis     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. Previous Story [← “That’s Our 2 Satoshis” — Silvergate and BTC Ordinals](https://www.ar.ca/blog/silvergate-and-btc-ordinals) [** ](https://www.ar.ca/blog) Next Story [Digital Assets Are a POC for the $100T U.S. Securities Market →](https://www.ar.ca/blog/arca-labs-digital-assets-are-a-poc) ## You May Also Like These Stories on Investing Themes [![](https://www.ar.ca/hubfs/Blog/WDTP/WDTP%20Thumbnail.jpg) ](https://www.ar.ca/blog/whats-driving-token-prices-july-1-2026) [Investing Themes](https://www.ar.ca/blog/tag/investing-themes) ### [What's Driving Token Prices? July 1, 2026](https://www.ar.ca/blog/whats-driving-token-prices-july-1-2026) Jul 1, 2026 | 1 min read [![](https://www.ar.ca/hubfs/Blog/WDTP/WDTP%20Thumbnail.jpg) ](https://www.ar.ca/blog/whats-driving-token-prices-june-24-2026) [Investing Themes](https://www.ar.ca/blog/tag/investing-themes) ### [What's Driving Token Prices? June 24, 2026](https://www.ar.ca/blog/whats-driving-token-prices-june-24-2026) Jun 24, 2026 | 1 min read [![](https://www.ar.ca/hubfs/Blog/WDTP/WDTP%20Thumbnail.jpg) ](https://www.ar.ca/blog/whats-driving-token-prices-june-10-2026) [Investing Themes](https://www.ar.ca/blog/tag/investing-themes) ### [What's Driving Token Prices? June 10, 2026](https://www.ar.ca/blog/whats-driving-token-prices-june-10-2026) Jun 11, 2026 | 1 min read ### Arca Los Angeles I New York (424) 400-7444 info@ar.ca [![LinkedIn](https://www.ar.ca/hubfs/LinkedIn.png "LinkedIn")](https://www.linkedin.com/company/arcafinance/mycompany/) [![Twitter](https://www.ar.ca/hubfs/Twitter.png "Twitter")](https://twitter.com/arca) [![Youtube](https://www.ar.ca/hubfs/Youtube.png "Youtube")](https://www.youtube.com/c/Arcafinance) ### Contact Us Copyright © 2025 Arca Holdings. All Rights Reserved.  |  [Important Disclosures](https://www.ar.ca/important-disclosures) ```json { "@context" : "http://schema.org", "@type" : "VideoObject", "contentUrl" : "https://youtu.be/hHdcrzD7_0w", "description" : "Meet the founders of Arca and learn about what inspired them to join the digital asset ecosystem. Rayne Steinberg – Co-Founder & Chief Executive Officer Jeff Dorman – Co-Founder & Chief Investment Officer Phil Liu – Co-Founder & Chief Legal Officer.", "duration" : "PT4M13S", "embedUrl" : "https://www.youtube.com/embed/hHdcrzD7_0w", "name" : "Meet the Founders of Arca", "thumbnailUrl" : "https://i.ytimg.com/vi/hHdcrzD7_0w/default.jpg", "uploadDate" : "2022-02-15T15:49:56Z" } ``` ```json { "@context" : "https://schema.org", "@type" : "SiteNavigationElement", "Name" : [ "HOME", "Hedge-Funds", "Bitcoin-Fund", "Blog", "About", "Team", "Careers", "Data Room", "Get in Touch" ], "Url" : [ "https://www.ar.ca/", "https://www.ar.ca/arca-hedge-funds", "https://www.ar.ca/ai-bitcoin-fund", "https://www.ar.ca/blog", "https://www.ar.ca/about", "https://www.ar.ca/arca-team", "https://www.ar.ca/careers", "https://arcafunds.hvstprivate.com/", "https://www.ar.ca/contact?hsCtaTracking=28ac2c2f-186c-436f-9682-1169cf946ad3%7C63e370f0-aacd-4463-8bce-3616a7b4b7f3" ] } ``` ```json { "@context" : "https://schema.org/", "@type" : "WebSite", "name" : "Ar", "potentialAction" : { "@type" : "SearchAction", "query-input" : "required name=search_term_string", "target" : "https://www.ar.ca/search?q={search_term_string}" }, "url" : "https://www.ar.ca/" } ``` ```json { "@context" : "https://schema.org/", "@type" : "WebPage", "name" : "Ar", "speakable" : { "@type" : "SpeakableSpecification", "xpath" : [ "/html/head/title", "/html/head/meta[@name='description']/@content" ] }, "url" : "https://www.ar.ca/" } ``` ```json { "@context" : "https://schema.org", "@type" : "Organization", "alternateName" : "Ar", "logo" : "https://www.ar.ca/Logo.png", "name" : "Ar", "url" : "https://www.ar.ca/" } ``` ```json { "@context" : "https://schema.org", "@id" : "", "@type" : "LocalBusiness", "address" : { "@type" : "PostalAddress", "addressCountry" : "US", "addressLocality" : "New York", "addressRegion" : "CA", "postalCode" : "90066", "streetAddress" : "Los Angeles" }, "geo" : { "@type" : "GeoCoordinates", "latitude" : 33.9697897, "longitude" : -118.2468148 }, "image" : "https://www.ar.ca/hs-fs/hubfs/email-sig-logowhite.png?width=102&name=email-sig-logowhite.png", "name" : "Arca", "openingHoursSpecification" : { "@type" : "OpeningHoursSpecification", "closes" : "23:59", "dayOfWeek" : [ "Monday", "Tuesday", "Wednesday", "Thursday", "Friday", "Saturday", "Sunday" ], "opens" : "00:00" }, "priceRange" : "$", "sameAs" : [ "https://twitter.com/arca", "https://www.linkedin.com/company/arcafinance" ], "telephone" : "(424) 400 7444", "url" : "https://www.ar.ca/" } ``` ```json { "@context" : "http://schema.org", "@type" : "VideoObject", "description" : "Rebecca Rettig, General Counsel of Aave Marc Boiron, General Counsel of dYdX Colleen Sullivan, Co-founder and CEO of CMT Digital Marvin Ammori, CLO at Uniswap Phil Liu, Co-founder and CLO of Arca", "duration" : "PT50M59S", "embedUrl" : "https://www.youtube.com/embed/hTc-kWa9hM8", "interactionCount" : "121", "name" : "Regulation: Clarity on the Horizon", "thumbnailUrl" : "https://i.ytimg.com/vi/hTc-kWa9hM8/default.jpg", "uploadDate" : "2021-05-26T13:29:46Z" } ``` ```json { "@context" : "http://schema.org", "@type" : "VideoObject", "description" : "Andrew Peel, Head of Digital Asset Markets at Morgan Stanley Jennifer Murphy, COO of Western Asset Management Tom Jessop, President of Fidelity Digital Assets Tim Davis, Principal of Deloitte Subhanker Sinha, Head of Blockchain, Digital at BNY Mellon", "duration" : "PT47M54S", "embedUrl" : "https://www.youtube.com/embed/Wx1LEII47iM", "interactionCount" : "242", "name" : "The Current Institutional Adoption Wave", "thumbnailUrl" : "https://i.ytimg.com/vi/Wx1LEII47iM/default.jpg", "uploadDate" : "2021-05-26T15:15:41Z" } ``` ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Organization", "name" : "Ar" }, "dateModified" : "2021-07-12", "datePublished" : "2021-06-28", "description" : "Blockchain commentary and analysis written for sophisticated investors - by professional investors", "headline" : "We Should Appreciate Bitcoin More, but it’s Not Defensive", "image" : "https://f.hubspotusercontent00.net/hub/4536350/hubfs/Thats%20Our%20Two%20Sathoshis%20%2812%29-2.png?width=380&name=Thats%20Our%20Two%20Sathoshis%20%2812%29-2.png", "mainEntityOfPage" : { "@id" : "https://www.ar.ca/blog", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.ar.ca/hs-fs/hubfs/email-sig-logowhite.png?width=102&name=email-sig-logowhite.png" }, "name" : "Market Recap" } } ```