What's Driving Token Prices? (September 28, 2022)

Katie Talati
Sep 28, 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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  • ATOM (-9.2%) - This week, Layer 1 protocol Cosmos held its annual Cosmoverse conference beginning Monday with an announcement regarding its new tokenomics scheme. A newly released white paper proposes changing monetary policy in two phases by first decreasing the amount of ATOM emitted per month for 36 months (from 10M ATOM to 300K per month). After, the inflation will decline 10% per month until inflation equals zero.

  • CEL (-4.8%) - Celsius CEO Alex Maschinsky announced late Monday that he would be stepping down from the company. The centralized crypto lender has been undergoing Chapter 11 bankruptcy proceedings since July to develop a repayment plan for customers that have had funds locked in Celsius since withdrawals were disabled in June. The Celsius creditors committee demanded Maschinsky’s resignation following the discovery of leaked plans that Maschinsky and other Celsius executives were attempting to restart parts of the business.

  • DOT (+2.4%) - Polkadot, the Layer 1 protocol created by Ethereum co-founder Gavin Wood, rallied the last few days on a newly released roadmap. The roadmap outlines features to increase blockspace on Polkadot, improvements in its cross-chain messaging product, a bridge between Polkadot and Kusama, an updated governance system, and more. In addition, Tether announced it would launch USDT on Polkadot, which should greatly aid the proliferation and adoption of DeFi on Polkadot.

  • UNI (+17%) - The Uniswap Foundation announced last week the release of Uniswap Diamond—a pro trading interface that aims to compete with the UX/UI of centralized exchanges. This, combined with chatter around the fee switch (redistributing some of the trading fees to UNI token holders), has led to Uniswap’s outperformance in the past week.
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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