--- title: What's Driving Token Prices? (April 20, 2022) description: Join Arca's Director of Research, Katie Talati, to learn about what is driving RON, ANC, COMP, and GMT token prices in the digital asset ecosystem this week (4/20/2022). 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/) - Investments - [Invest](https://www.ar.ca/invest) - [Portfolio](https://www.ar.ca/arcaportfolio) - Labs - [Overview](https://www.arcalabs.com) - [ArCoin](https://www.arcalabs.com/about-arcoin) - [Services](https://www.arcalabs.com/innovation-services) - Resources - [Arca Crypto Market Call](https://www.ar.ca/arca-crypto-market-call) - [DePIN](https://www.ar.ca/depin) - [Digital Asset Classification](https://www.ar.ca/digital-asset-types-and-valuations) - [Blockchain Transferred Funds (BTFs)](https://www.ar.ca/btf) - [NFTs](https://www.ar.ca/nft) - [Decentralized Governance](https://www.ar.ca/decentralized-governance) - 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[NFT Strategy (LPs Only)](https://arcafinance.docsend.com/view/s/jjkzk3z9nw7mjgf6) - [Insights For Prospects](https://arcafinance.docsend.com/view/s/dhz2wmhzdd9x6ur5) ![](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? (April 20, 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 20, 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   - **RON (-8.7%)** - The Axie Infinity sidechain, Ronin, which suffered a hack of over $600M a few weeks ago, has identified the culprits. The U.S. Treasury believes that the North Korean hacker group, Lazarus, is behind the exploit. The Lazarus group has been linked to seven hacks in the last year and first gained notoriety for the Sony Pictures hack of 2014. - **ANC (-1.6%)** - Terra’s lend/borrow protocol, Anchor, passed a proposal last week to redirect intended airdrop allocations to the community pool. Though this is intended to stabilize the price of ANC and serve as a better purpose for ANC bootstrapping new collateral onboarding, we’re unsure it will do much given the same quantity of ANC tokens are still set to hit circulation. - **COMP (+11%)** - a Compound proposal is up for a vote on whether to discontinue the protocol’s liquidity mining program. Compound, one of the first DefFi protocols to issue tokens through liquidity mining, which caused the kickoff of DeFi summer in 2020, has been criticized for this program artificially inflating its TVL numbers. It will be interesting to see the impact of discontinuing this rewards program. As of now, the vote is in favor of discontinuing. - **GMT (+67%)** - StepN (GMT) the increasingly popular move-to-earn app on Solana announced a collaboration this week with Asics for “STEPN x ASICS NFT Sneakers” that can be purchased on Binance’s NFT marketplace. The StepN app, which has amassed 300 thousand DAUs, rewards users for walking or other movements throughout the day with GST,  which can be used for in-app transactions, customizing shoes, or minting new shoes. Separately, the project has a governance token, GMT. *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” — 17 Risk Signals We Use to Monitor Digital Asset Health](https://www.ar.ca/blog/17-risk-signals-we-use-to-monitor-digital-asset-health) [** ](https://www.ar.ca/blog) Next Story [“That’s Our 2 Satoshis” — My Bank Forced Me to Use DeFi →](https://www.ar.ca/blog/my-bank-forced-me-to-use-defi) ## 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-8-2026) [Investing Themes](https://www.ar.ca/blog/tag/investing-themes) ### [What's Driving Token Prices? July 8, 2026](https://www.ar.ca/blog/whats-driving-token-prices-july-8-2026) Jul 8, 2026 | 1 min read [![](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 ### 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) - Divisions - [Arca Investments](https://www.ar.ca/invest) - [Arca Labs](https://www.arcalabs.com/) - Company - [Data Room](https://www.ar.ca/data-room-access) - [About](https://www.ar.ca/about-arca) - [Press](https://www.ar.ca/press) - [Careers](https://www.ar.ca/careers) - Legal - [Privacy](https://www.ar.ca/privacy-policy) - [Terms of Use](https://www.ar.ca/terms-of-use) - Education - [Resources](https://www.ar.ca/digital-asset-faqs) - [Insights](https://www.ar.ca/blog) - [Events](https://www.ar.ca/dafii-2022) ### 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: RON, ANC, COMP, GMT . 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" : "PT6M21S", "embedUrl" : "https://www.youtube.com/embed/8M4K7D6Q_b4", "name" : "What's Driving Token Prices? Episode 12", "thumbnailUrl" : "https://i.ytimg.com/vi/8M4K7D6Q_b4/default.jpg", "uploadDate" : "2022-04-20T20:34:32Z" } ```