What's Driving Token Prices? (April 27, 2022)

Katie Talati
Apr 27, 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.

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  • SUSHI (-11%) - Sushiswap released a restructuring proposal yesterday to lay out how the team and business will move forward. Specifically, it defines salaries, establishes a compensation committee, and allocates resources toward the future executive search for a new CEO. So far, the proposal has had broad support across the community.

  • BTC (-5.3%) - Fidelity announced yesterday that it would allow 401k retirement accounts to purchase Bitcoin subject to employers’ approval. Individuals would be able to invest up to 20% of their portfolio in Bitcoin under this provision, potentially opening up a sizable swath of new capital to invest in Bitcoin.

  • TRX (+0.7%) - Layer 1 blockchain Tron announced last week it would launch an algo stablecoin, similar in design to Terra’s UST. USDD aims to have a 30% “risk-free rate” by raising a yield reserve of $10B.

  • APE (+20%) - Apecoin, the token issued by the creator of the Bored Ape Yacht Club NFT collection, soared last week as the project announced the “Otherside” land sale for the BAYC metaverse will begin on April 30. 
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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