Elephant Money Newsletter (10/5/2023): Elephant Money Correction Analytics
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Quick Info:
Market Cap: $472.9 million
Elephant Treasury Growth: ( - $11,040,000) @ $83,737,000
BTC Supply Adjusted Price: ( - $3.39) @ $22.52
3rd Top Holder of wBNB
5th Top Holder of BUSD
4.3x more assets than futures liabilities!
Elephant Treasury & BTC Supply Adjusted Price:
Elephant Money Treasury:
9/28: $94,777,000
10/5: $83,737,000 (Down -$11,040,000)
BTC Adjusted Price:
9/28: $25.91
10/5: $22.52 (Down -$3.39)
Elephant Money Stats
Elephant Treasury: (1400 9/21/2023 PST)
9/28: 174.19 T (Up 1.13 T)
10/5: 177.06 T ( Up 2.87 T)
Both LP Total:
9/28: 83.36 (Down 6.01 T)
10/5: 89.4 (Up 6.04 T)
Note: Above stats are real time on chain numbers provided bscscan.com. Dune analytics updates every few hours.
Blockchain Explorer: Bscscan.com
On Chain Transparency
Note: Here is the BSC blockchain explorer for Elephant Money- https://bscscan.com/token/0xe283d0e3b8c102badf5e8166b73e02d96d92f688#balances
Liquidity Pools:
Elephant wBNB LP:
Top 3rd Holder of wBNB on BSC.
9/28: wBNB LP: 114,275
10/5: wBNB LP:108,234 (Down 6,041 wBNB)
Elephant BUSD LP:
Top 5th Holder of BUSD on BSC
9/28: BUSD LP: 20,983,205
10/5: BUSD LP: 19,521,004 (Down $1,462,201)
30 day In vs Out:
Total In:
9/28: $3,000,000 (Up $300,000)
10/5: 4,000,000 (Up $1,000,000) !!!
Total Out:
9/28: $825,400
10/5: $863,600 (Up $38,200)
Futures: Assets Vs Liabilities
Futures TVL (Liabilities): $19,064,260 (Up $1,184,342 )
Elephant Treasury (Assets): $83,737,000 (Down -$11,040,000)
Note: 4.3x more assets than futures liabilities! (1x decrease)
New Futures Wallets: 120 new wallets @ 2,490
Elephant Money Charts:
24 hours (10/5/2023 1338 PST ): + 0.13%
7 Day: (-) 13.14%
YTD: + 410%
Elephant Unlimited NFTs:
ONLY 8720 NFTs LEFT IN ROUND 2
Buy discounted Elephant Money Unlimited NFTs @ 1.8 BNB each!
Available Discounted NFTs: 0
NFTs sold in Marketplace: 380
NFT Supply Minted:
9/28: 11,038
10/5: 11,238 (200 NFTs minted)
Total BUSD Deposits: $2,717,000
Current APR: 31.12% (Down 5.54%) paid in Elephant Token
Total Rewards Paid Out to Stakers: $184,960.00 in Elephant Token
All updates on Elephant Money Unlimited NFTs will be provided by Bankteller via the Medium Link Below.
https://medium.com/elephant-money/elephant-money-unlimited-is-live-cf67fbf8f708
Bonus Info:
Circulating Supply Article:
Thank you to dedalus for posting the Dune Analytics on the recent price drop! Please follow him on Debank and use him as a partner in Elephant.
Elephant Money Price Drop Analytics:
😱 Elephant Money had a huge sell-off with a price drop of over 30% 😱 From October 02 16:00 UTC until October 03 22:45 UTC there was a Elephant Money sell-off that made the price drop by >30% from 0.584 $/M ELE to 0.385 $/M ELE (-34%). It was the end of > 1 year price appreciation streak. On these 2 days there was a total trading volume of $10.5M and a combined sell volume of $6.4M: https://dune.com/dedalus/elephant-sell-off-2023-10-02-to-03
A sell-off was not surprising since the price was nearing the previous all-time-high (ATH). The severity of the sell-off could have been amplified by a combination of factors: ⭐ATH is always a strong resistance in price action, ⭐Previous ATH was just before an exploit of the protocol (April 2022), which means that wallets buying before previous ATH have been at a loss for almost 1.5 years.
⭐Increasing amount of FUD about the non-realistic price action
⭐Dev modification of the way the 2 Elephant liquidity pools are being arbitraged, led to a bigger than usual red candle
⭐Dev communication regarding potential modifications to an Elephant Money product, Futures.
On-chain analysis of the sell-off results in following conclusions regarding the selling wallets, focusing on the wallets that have sold combined > 1B Elephant:
⭐752 wallets have sold 16.8T Elephant for $7.6M
⭐7 wallets were Top 100 holders, 57 wallets Top 500 holders and 120 wallets Top 1000 holders
⭐On average each wallet has been selling off 95% of their bag, which is a sign that these wallets wanted to leave the protocol
⭐161 wallets made the first buy within 30 days before the exploit in April, 2022 and 31 wallets made the last buy within 30 days before the exploit
You can find more details in this Dune Dashboard with the Debank links to all selling wallets: https://dune.com/dedalus/elephant-sell-off-2023-10-02-to-03
“This is maybe the most important graph from the sell-off analysis. Horizontal axis is number of days before the sell-off when the first Elephant buy happened. Buyers near ATH now and pre exploit are paper handing. Exploit was about 535 days ago, at the time of the sell-off.” dedalus
Twitter Spaces:
Please tune in Every Wednesday for the Elephant Money Spaces:
10/4/2023 Twitter Space Link:
https://x.com/ElephantStatus/status/1709583944608338366?s=20
NFT GIVEAWAY EVERY WEDNESDAY to a random audience member!
RAID a Week Content:
YOUTUBE HERD:
Medium Herd:
Nothing in this article is intended to constitute investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. Readers are encouraged to perform their own due diligence and research, or consult a licensed financial advisor or broker before making any and all investment decisions. This content is intended for general informational and educational purposes only. Though the author strives for accuracy, the data contained within the article cannot be relied upon. The author may own cryptocurrencies and tokens discussed in the article. The article may contain affiliate links.
