68th FRIDAY ELEPHANT TREASURY UPDATE
Hello, everyone!
Welcome to the 68th Friday Elephant Treasury Update, covering 69 weeks of Bertha progress. You can find all the previous reports on EM Telegram.
BERTHA TOKEN AND VALUE GAINS
Ever since EM Futures launched back on January 21, 2023, we have seen weekly growth of over 1 trillion Elephant tokens in the Elephant Treasury 32 out of 33 weeks (.967) — including this past week, as Bertha grew another 1.12 trillion Elephants in token weight to 170.60.
Prior to the launching of Futures we had weekly growth of over 1 trillion Elephant tokens a total of only 11 times in 36 reported weeks (.306). The contrast between the past 33 weeks and the previous 35 weeks goes to show what a key role that Futures has played in the building of Bertha.
Last week we reported a 1.07-trillion token rise to 169.48, which is also when we reported our record gain of $7,397,000 in weekly Bertha value to $59,435,000!
This week Bertha has appreciated $4,583,000 in value to the $64,018,000 level! $4,583,000 is fourth highest gain in Bertha value since we began receiving these reports. It is also the third time we have recorded a weekly rise of at least $4,000,000.
Last week we saw the 31st highest token gain in the last 32 weeks, but the highest value gain in 68 weeks! This week we have seen the 31st highest token gain in 33 weeks, but the fourth highest value gain in 69 weeks. These ratios of token gain to value gain go to show what happens when the parabolic rise of a token can be maintained — controlled by the protocol’s superior design and not enslaved to human whims.
CONSISTENT TOKEN GROWTH
Bertha has grown her token amount 65 out of 69 weeks of coverage, and 33 weeks in a row — ever since Futures began!
$MILLIONS ADDED WEEKLY AND CONSISTENTLY
We have seen 14 $1M+ weekly rises in value in the last 17 weeks, 9 $2M+ weekly rises in the last 12 weeks, and 6 $3M+ weeks in a row and $4 $4M+ weeks in the last 5 weeks! The last six weeks have seen…
$30,151,000!
…in value enter the Elephant Treasury! Over $5 million per week!
Six weeks in a row have brought the six highest value gains for Bertha.
THE IMPACT OF FUTURES AND UNLIMITED ON BERTHA
Bertha has risen by 68.2% in Elephant tokens since the launch of Futures on January 21, 2023 — over 2% per week.
Since Futures’ launch, Bertha has added 69.19 trillion Elephants to its size — an average of 2.10 trillion Elephants per week over 33 weeks. Last week the weekly average was 2.13 trillion.
WATCHING EMU NFT DIFFERENTLY
EM Unlimited minting contributes proceeds directly to Bertha. This week we saw 73 mints from 10,174 to 10,247 following 59 mints the week before.
At this point it will be more useful to watch how the NFT APR is positively impacted as Bertha rises in value as Elephant purchases increase by new and existing participants. When the NFT APR rises high enough, NFT minting will once again accelerate.
Current NFT APR: 28.68
Last week’s NFT APR: 27.01%
Up 1.67 points
8/19 NFT APR: 22.90%
Up 5.78 points.
“FOMO MULTIPLIER”
Current: 2.77x
Last week’s: 6.92x (highest reported)
Watch FOMOM, NFT APR, and Bertha Value.
BERTHA VALUE-GROWTH CHRONICLE
ET $5M Value-Growth Chronicle Since May 12, 2022
$5M-$10M: 25 weeks
$10M-$15M: 19 weeks
$15M-$20M: 9 weeks
$20M-$25M: 5 weeks
$25M-$30M: 3 weeks
$30M-$35M: 3 weeks
$35M-$40M: 6 days
$40M-$45M: 6 days
$45M-$50M: 6 days
$50M-$55M: 8 days
$55M-$60M: 5 days (9/1/23)
$60M-$65M: 9 days (based on $574K/day)
TARGETING TIME: 175T ELEPHANTS IN BERTHA
Two different methods that are targeting 175 trillion Elephants in the Elephant Treasury:
*Averaging since the Futures launch (33 weeks ago).
*Averaging since Unlimited’s first full week of coverage following its minting and staking launch (8 weeks ago).
Method 1:
2.10T average: 2 weeks (September 22, 2023).
Last week: September 18, 2023.
Method 2:
2.21T average: 2 weeks (September 22, 2023).
Last week: (September 17, 2023)
WEEKLY WATCH ON THE ELEPHANT LPs
53.9T Elephants in the BNB Pool
⬇️1.6T for the week.
$0.0₆3773⬆️7.2%
46.2T Elephants in the BUSD Pool
⬇️1.5T for the week.
$0.0₆3768⬆️6.4%
100.1T total Elephants remaining,
⬇️3.1T for the week.
Since May 9, we have seen a total of 80.0T Elephants removed from the LPs, ⬇️44.4%!
With a total of 80.0T Elephants drained from the pool since 5/9, 4.60T is the weekly average over the last 17.4 weeks. Last week the average was 4.69T.
Fewer Elephants in the pools leads to higher prices for the remaining Elephants.
FUTURES WEEKLY GAINS
New Futures participation rose to 2,149–76 more this week and fifth highest since Futures launched. Last week 86 Future wallets were added (2,073).
Futures’ TVL rose $645K to $15.948M. The rise from the week before was $691K to $15.303M.
Futures’ deposits rose $398K to $11.575M . Last week’s deposits rose $427K to $11.177M.
EXTRA TAKEAWAYS
1. BUSD Treasury has remained in six figures for six straight weeks.
2. Both Daily Futures Liabilites as a percentage of the Elephant Treasury and Weekly Debt (TVL) as a percentage of the Elephant Treasury have dropped six weeks in a row.
3. While the ET has grown nearly 70% in total tokens since Futures launched, the value of ET has grown well over 500% in that very same time.
We are getting more and more help all the time in the community and some remarkable work on many fronts. We have some who are making a difference in AMAs and also in influencing influencers. We look forward to seeing how our bolstered Performance Fund will help in our marketing quests. The more we all grab an oar in the Elephant boat and are active members that way, the better for us all, since we are all part of the business, part of the team, and part of the crew.
Have a good weekend!🙏🏻
