69th FRIDAY ELEPHANT TREASURY UPDATE
Hello, everyone!
Welcome to the 69th Friday Elephant Treasury Update, covering 70 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 33 out of 34 weeks (.971) — including this past week, as Bertha grew another 1.26 trillion Elephants in token weight to 171.86. This week’s gain exceeds last week’s gain of 1.12 trillion, which brought Bertha to the 170.60-trillion mark, even though the price of Elephant stands at post-exploits highs — which, of course, you could say most weeks here!😁
Those ATH prices certainly did not stop four Elephant purchases of totaling nearly $350K early Friday morning (CDT). Institutions are starting to see what many individuals have also been seeing — that now is a great time to get into Elephant — and that when tomorrow is now, it will still be a great time. ⏰
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 34 weeks and the previous 36 weeks shows how impacting Futures has been on Bertha, but also how the NFTs and the growing demand for Elephant that has now been catalyzed have also played leading roles.
Last week’s report showed that Bertha had appreciated $4,583,000 in value to the $64,018,000 mark — the fourth-highest gain in Bertha value since we began receiving these reports.
This week’s report on Bertha’s weekly growth in value is another staggering one — and a record one, breaking the mark set just two weeks ago!
$7,540,000!
This brings Bertha’s value to $71,558,000, which is over 7 times the value of Bertha that it was back on January 21!
FROM OVER 500% to OVER 600%
Last week we mentioned that ET has grown nearly 70% in token count since the launch of Futures with over a 500% rise in value, and yet now, while we must still say that ET has grown nearly 70% since the Futures launch because token growth has slowed of late, nevertheless the total rise in Bertha value has spiked to 600%. This is because Elephant tokens are pricier due to overall depletion of tokens from the Elephant pools. More and more people are vying for Elephant tokens along with Bertha. People do not want to miss out on the ever-appreciating Elephant token. (See the FOMO Multiplier below.)
Such mammoth (🙂) sums flowing into Bertha makes for quicker, easier, and sustainable means by which Bertha can pay all liabilities on the EM ecosystem.
Last week we saw the 31st highest token gain in the last 33 weeks, but the fourth-highest value gain in 68 weeks! This week we have seen the 29th highest token gain in 34 weeks, but the record weekly growth in our 70 weeks of reporting!. 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 66 out of 70 weeks of coverage, and 34 weeks in a row — ever since Futures began!
$MILLIONS ADDED WEEKLY AND CONSISTENTLY
We have seen 15 $1M+ weekly rises in value in the last 18 weeks, 10 $2M+ weekly rises in the last 13 weeks, 7 $3M+ weeks in a row, 5 $4M+ weeks in the last 6 weeks and 2 $7M+ weeks in the last 3 weeks!The last seven weeks have seen…
$37,691,000
…in value enter the Elephant Treasury! Over $5.38 million per week!
Seven consecutive weeks have brought the sevent highest gains of value for Bertha.
THE IMPACT OF FUTURES AND UNLIMITED ON BERTHA
Bertha has risen by 69.6% in Elephant tokens since the launch of Futures on January 21, 2023 — over 2% per week.
Since Futures’ launch, Bertha has added 70.56 trillion Elephants to its size — an average of 2.08 trillion Elephants per week over 34 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 141 mints from 10,247 to 10,388 following 73 mints the week before — nearly double. NFT minting has increased three weeks in a row — we will be watching this short-term trend.
We also are watching how the NFT APR is positively impacted as Bertha rises in value, as Elephant purchases increase by new and existing participants. NFT purchases are picking up, but when the NFT APR rises high enough, NFT minting will certainly see greater acceleration — it may be making somewhat of a difference already.
Current NFT APR: 30.80%
Last week’s NFT APR: 28.68%
Up 2.12 points
8/21 NFT APR: 22.90%
Up 7.90 points since 8/21
“FOMO MULTIPLIER”
Current: 3.88x
Last week’s: 2.77x
I have noticed that differentials of roughly 3 or more (overall pool reductions minus Bertha purchases) have been healthy weeks.
Current Differential: 3.64
Watch FOMOM, NFT APR, and Bertha Value to see how NFT minting progresses.
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
$60M-$65M: 8 days (9/9/23)
$65M-$70M: 6 days (9/15/23)
$70M-$75M: 1 day (based on current pace since $70M of $4.38M/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 (34 weeks ago).
*Averaging since Unlimited’s first full week of coverage following its minting and staking launch (9 weeks ago).
Method 1:
2.08T average: 1.5 weeks (September 26, 2023).
Last week: September 22, 2023.
Method 2:
2.10T average: 2 weeks (September 26, 2023).
Last week: (September 22, 2023)
WEEKLY WATCH ON THE ELEPHANT LPs
51.2T Elephants in the BNB Pool
⬇️2.7T for the week.
$0.0₆4172 ⬆️10.56% (!)
44.1T Elephants in the BUSD Pool
⬇️2.1T for the week.
$0.0₆4146⬆️10.03% (!)
95.3 total Elephants remaining,
⬇️4.8T for the week.
Since May 9, we have seen a total of 84.8T Elephants removed from the LPs, ⬇️47.1% — knocking on 50%!
With a total of 84.8T Elephants drained from the pool since 5/9, 4.61T is the weekly average over the last 18.4 weeks. Last week the average was 4.60T.
Fewer Elephants in the pools leads to higher prices for the remaining Elephants.
FUTURES’ WEEKLY GAINS
New Futures participation rose to 2,221 — 72 more this week. Last week 76 Future wallets were added
(2,149).
Futures’ TVL rose $816K to $16.761M. The rise from the week before was $645K to $15.948M.
Futures’ deposits rose $543K to $12.128M . Last week’s deposits rose $398K to $11.575M.
Trumpet Three-Week Watch:
August 25: 1.672
September 15: 1.784
⬆️ 11.5%
Trumpet always rises.
EXTRA TAKEAWAYS
- BUSD Treasury has remained in six figures for seven straight weeks. Bertha feeds off the BUSD Treasury daily to gain Elephant tokens.
2. Both of the above figures have lowered seven straight weeks. Assets are constantly out pacing liabilites.
Many talented community members are here who are persistently sharing their talents and skills on so many fronts. Thanks to all who are grabbing an oar and rowing together.
Have a good week. The Lord willing, the 70th Friday Elephant Treasury Update will be filed on Friday on the EM Telegram channel! I hope to see you there and then!
