--- title: What's Driving Token Prices? (July 27, 2022) description: Join Arca's Director of Research, Katie Talati, to learn about what is driving COIN, AUDIO, and DYDX token prices in the digital asset ecosystem this week (7/27/2022). 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? (July 27, 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) Jul 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.** Watch Our Founders Video   - **COIN (-17%)** - Coinbase, the most well-known centralized exchange, faced regulatory trouble this week. First, the SEC announced it was charging an ex-employee with insider trading for purchasing tokens before Coinbase announced it would potentially list them. Subsequently, the SEC announced it was investigating Coinbase and its token listings, which could be considered securities. - **AUDIO (-16%)** - Decentralized music streaming platform Audius suffered a governance attack last week that saw 18 million tokens stolen from the Audius treasury. The hacker created and approved a proposal to send tokens from the treasury fund to the hacker’s address. Although the tokens were worth $6M at the time, the hacker faced a high amount of slippage and only netted themself $1.1M in profit. The Audius team quickly patched the vulnerability in the governance contracts; however, it brought the token price down -16%. - **DYDX (-6.5%)** - A proposal went live last week on the forum for decentralized derivatives protocol dYdX that proposes cutting token incentive rewards by 25% to counteract inflation. dYdX has become the leading decentralized derivatives platform, mainly due to its generous token incentive platform that initially rewarded users with an airdrop and now rewards for every trade performed on the platform. As a result, it has seen $466M in annual revenue; however, they have also released $378M in token rewards. The proposal is still in the discussion phase, but if it passes and emissions are reduced, this should be bullish for the DYDX token. *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. 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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: GLMR, AAVE, CHZ, ETC. 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" : "PT9M57S", "embedUrl" : "https://www.youtube.com/embed/B-uL8PZr7uA", "name" : "What's Driving Token Prices? Episode 24", "thumbnailUrl" : "https://i.ytimg.com/vi/B-uL8PZr7uA/default.jpg", "uploadDate" : "2022-08-04T14:00:15Z" } ```