What's Driving Token Prices? (Mar 16, 2022)

Katie Talati
Mar 16, 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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  • RUNE (+40%) -Thorchain, a decentralized asset exchange protocol built using the Cosmos SDK, was one of last week’s best performers. Its price surged after launching its protocol last week that allows users to trade synthetic assets. Thorchain sets itself apart from other bridges as it does not rely on wrapped assets or atomic swaps; instead, assets are partly backed by RUNE, which nodes are also required to hold to provide liquidity on the network.

  • MPL (+16%) -Maple Finance (MPL), an on-chain lender for institutional investors, announced last week that It onboarded Celsius as the first CeFi lender. Anchorage also added custody for MPL tokens. WoW, Maple’s treasury revenue was up 6.7%, and its TVL was up 4.5%.

  • IMX (-7.2%) - Immutable-X, the Layer 2 scaling solution focused on the gaming NFT sector, announced it raised a $200M Series C round at a $2.5B valuation. Temasek led the round along with Animoca Brands, Tencent, ParaFi Capital, Princeville Capital, Arrington Capital, Mirae Asset, and Liberty Global. Subsequently, the token surged 25% on the news.

  • MATIC (-7.2%) - Ethereum Layer 2 solution, Polygon, experienced an outage last week that halted production on its sidechain. The outage caused an outcry from users within the community as Polygon is utilized by over a hundred projects and secures $3.5B in TVL (the most TVL of any L2 solution). Polygon has frequently been criticized for its centralization and lack of security; 2 days of network downtime has not helped its case.
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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