---
title: What's Driving Token Prices? (April 13, 2022)
description: Join Arca's Director of Research, Katie Talati, to learn about what is driving NEAR, ATOM, BOBA, CEL token prices in the digital asset ecosystem this week (4/13/2022).
image: https://www.ar.ca/hubfs/WDTP%20Thumbnail.jpg
---

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# What's Driving Token Prices? (April 13, 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)

 Apr 13, 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

 

- **NEAR (+3%)** - Near, the Layer 1 protocol focused on sharding as its scaling solution, announced last week it had raised $350M in new funding led by Tiger Global with participation from Republic Capital, FTX Ventures, Hashed, and Dragonfly Capital. This is Near’s second raise in 2022, the first one equaling $150M. In addition, NEAR announced it intends to launch its own stable coin, USN, which will have similar lending rates as UST did on Terra (20%). The NEAR token initially rose 21% after the news broke, however has since fallen, ending the week up 3%`.
- **ATOM (-8.9%)** - Layer 1 protocol Cosmos completed its Theta Upgrade yesterday, which included the addition of “Interchain Accounts.” Interchain Accounts is a feature that allows users to use the same wallet address across all Cosmos IBC chains, increasing the usability and user experience of Cosmos for long term adoption of its chains. The trailing 7 day transactions were down 40% in anticipation of the upgrade.
- **BOBA (-6.4%)** - Boba, a Layer 2 network, announced the close of their $45M Series A round at a $1.5B valuation. At the time of the announcement, the token was trading at a market cap of $900M, causing the token to trade up on the news.
- **CEL (-28%)** - Celsius, a centralized crypto loan company, announced yesterday that it was banning non-accredited U.S. investors from earning crypto rewards while using their platform. Since most customers use Celsius to loan their crypto in exchange for interest and reward payments in the native CEL token, this could potentially stymy a decent amount of Celsius’s business. The CEL token traded down -28% on the news.

*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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