--- title: What's Driving Token Prices? November 2, 2022 description: Join Arca's Director of Research, Katie Talati, to learn about what is driving LOOKS, IMX, GMT and DOGE token prices in the digital asset ecosystem this week (11/02/2022). 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? November 2, 2022 [![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) Nov 2, 2022 **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 - **[LOOKS](https://looksrare.org/) (-7.2%)** - NFT trading platform Looksrare announced last week it would remove NFT royalties on its platform, following in the footsteps of Magic Eden, Sudoswap, and X2Y2. Looksrare plans to distribute 0.5% (or 25%) of its protocol fee to creators to help with this transition. Looksrare is the third-largest NFT marketplace after Opensea and X2Y2, generating $1.5B in annualized volume. - **IMX (+0.6%)** - Layer 2 scaling solution Immutable-X announced the release of Gamestop’s NFT marketplace on top of Immutable. Last year, Gamestop and Immutable-X forged a partnership that included an exchange of IMX tokens, which Gamestop immediately market-sold, crashing the price of IMX. The project also recently announced that it resold tokens that unlocked from the early private rounds to new investors, including Coinbase Ventures, Kenetic Capital, and others. - **GMT (+3.3%)** - Creators of the move-to-earn project Stepn announced this week it would be rolling out a new NFT trading marketplace that charges users a monthly subscription to trade instead of royalties and trading fees. The marketplace, called MOOAR, will be an interesting test to see if it can find product-market fit as a subscription service in Web3. At its height, Stepn had over 1M daily active users and currently has over 4.7M registered users. - **[DOGE](https://dogecoin.com/) ****(+83%)** - In case you haven’t been following the news this week, Elon Musk officially finalized his purchase of Twitter. Speculation has brewed for some time that Musk may institute Dogecoin—the meme digital asset he has previously promoted—for micropayments as he looks to begin charging Twitter users. Yesterday morning, DOGE soared after Musk tweeted a photo of a Shiba Inu dog wearing a Twitter t-shirt next to a pumpkin with the Twitter logo.**   *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. 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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. 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This week Katie discusses the recent market volatility and how this affects the digital asset ecosystem. The tokens Katie focuses on are: LOOKS, IMX, GMT, DOGE. As a reminder, this commentary is not intended to be investment advice, investment research, or a recommendation. Please consult your investment professional for your own circumstances.", "duration" : "PT4M45S", "embedUrl" : "https://www.youtube.com/embed/xEwpCo_d38U", "name" : "What's Driving Token Prices Episode 37", "thumbnailUrl" : "https://i.ytimg.com/vi/xEwpCo_d38U/default.jpg", "uploadDate" : "2022-11-02T20:12:44Z" } ```