What's Driving Token Prices? September 9, 2026

LAPTOP (-95%) - While this is not the kind of development we typically focus on, I would be remiss not to at least mention the latest high-profile memecoin token launch that has filled timelines over the last two days. Hunter Biden launched the memecoin “LAPTOP” today. The token will be allocated to the founders (including Biden), to wallets holding the TRUMP memecoin that are underwater, to Biden’s Substack subscribers, and to other community members. The LAPTOP token will be burned if certain criteria are met, including the Democrats winning the 2028 election, LAPTOP overtaking the market cap of TRUMP, or BTC reaching a new all-time high. LAPTOP is expected to launch on Coinbase’s Base blockchain, but after backlash, the Base team reaffirmed that it was not supporting the launch and that anyone can permissionlessly launch tokens on its chain. After initially launching and spiking to a $9B market cap, the token has since traded down and is trading at a roughly $476M market cap.
ONE (-8.8%) - Over the weekend, the Harmony blockchain announced it would wind down and migrate all of its ONE tokens to the Ethereum mainnet. Harmony suffered an exploit last month that minted 4 billion tokens and severely hurt the price of ONE. The Harmony team stated that due to AI, attacks are becoming harder to defend against, leading to its decision to wind down the chain. However, Harmony will not disappear completely. It plans to pivot its business to a “Remix Economy for AI Video.” A full chain shutdown is an unusual move for a blockchain, since in theory it can continue to run without the support of a centralized group. However, in the case of Harmony, shutting the chain down is best for all parties involved, as the chain holds less than $10,000 in TVL and produces only a few dollars in fees every day.
CRO (+9.9%) - Crypto.com and Robinhood announced a partnership on Tuesday aimed at expanding Robinhood’s capabilities in the prediction markets business. OG.com, the independent derivatives platform of Crypto.com, will receive prediction market contracts for football from Robinhood. In exchange, Robinhood will receive an equity stake in both Crypto.com and OG.com. Yesterday, Crypto.com’s CEO also announced that a Crypto.com app will launch in the next 10 days with 100% of in-app revenue going to buying and burning the CRO token (the token of Crypto.com’s dedicated Cronos blockchain). Despite an exploit on the Cronos blockchain last month, CRO performed strongly, up 26% over the last 30 days and up 9.9% this week.
UNI (+13%) - Uniswap, the largest decentralized exchange, has seen a big run-up in price in the last month after its successful launch on Robinhood Chain, Robinhood’s layer-2. The launch also coincided with Uniswap fee switch, whereby UNI is purchased from the open market and burned based on Uniswap’s revenue. The swell in Uniswap revenue from activity on Robinhood Chain has propelled UNI higher in recent weeks as activity on-chain has exploded. Last week, Uniswap announced it purchased PONS tokens, the native memecoin launchpad on Robinhood Chain, as a way to create “long-term alignment” with Pons. Newly launched tokens on Pons are automatically routed to Uniswap for secondary trading, which has fueled Uniswap’s trading volumes and revenue. In the last 30 days, Uniswap has generated $12.6M in revenue ($151M annualized), more than half of which was generated on Robinhood Chain.

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