Volta Club Treasury Q4
The treasury spreadsheet showing positions as of the 31st of December, 2023 is included at the end of this article as always. The final quarter of the year has shown signs of a new crypto bull market with a large increase in the total crypto marketcap. Buybacks are reaching the $200 level on Volta for the first time as migrations come to a close. We launched in the $90–100 range, so Volta holders are reaping great rewards! We look forward to continue growing for you in the upcoming year.
A Look Around the Market
The total crypto market cap has increased significantly to close out the year, indicating the beginning of a bull market. ETH started at $1673 with BTC at $26,976 from our last snapshot on September 30th. ETH is sitting at $2300 and BTC has reached $42,005, an increase of 37.5% and 55.7% respectively. ETH has been lagging behind BTC and much of the altcoin space, especially AVAX and SOL. The total crypto market cap has increased significantly from ~$1T last quarter to ~$1.7T now.
The main catalyst is an expected BTC ETF approval in January. Assets have historically increased in value a great deal in run-ups to ETF approvals. Most traders expect a correction to occur after the approval.
Our View and Strategy
Interest rates remain high. The macro economic view appears relatively strong despite this. The S&P500 is in up only mode even with a constant barrage of bad news and global instability. The crypto market is growing at a rapid pace.
In response to this we are now fully allocated in volatile assets. The bulk of that is Sifu tokens, which have seen tremendous growth from $67 in the prior quarter to $80 today, and UwU tokens farmed and purchased well below current market price of $12.50.
We unloaded $500k of BSGG tokens at $0.0025, which is currently where the token is trading at. We will reach another OTC deal for the remaining ~342mm tokens later.
Interport is still growing while our tokens vest. Marketing is going full force as the crypto space is moving interchain at a faster pace than ever. Our LP there continues to earn ~33% APR.
SifuVision does the bulk of our trading as we hold much of the supply. SV has large ETH positions, farming positions for extra stables, and strategic LPs.
Treasury Spreadsheet
Liquid treasury September 30, 2023: $146,153,161.00
Liquid treasury December 31st, 2023: $136,557,067.00
Volta began this quarter with a supply of 968,780 tokens. With aggressive buybacks and migrations coming to an end we sit at 339,446 backed tokens in circulation. The Volta backing was $152 last quarter and sits at $402 today, a gain of 164%.
As always, LPs to buy back are deployed by SifuVision and other users. We will continue to buy back tokens to reduce the supply if there are more sellers than buyers. We look forward to delivering a strong 2024 and Happy New Year from the team!
