October 2024 was a month of steady progress. We continued to improve our operational effectiveness, maintaining stable numbers of new active and paying users despite a slight decrease in sign-ups. Overall, it was a balanced month without significant fluctuations, allowing us to focus on refining our strategies and enhancing our platform.
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Veles, https://veles.finance/, is an algorithmic crypto trading bots platform. Users can select from a curated list of pre-made bots or configure their own custom strategies. While the crypto assets remain securely on exchanges, Veles facilitates trading through API access. Revenue is generated through performance fees on profitable trades and trading volume commissions from exchanges.
Demo Access: https://veles.finance/login, [email protected] — tothemoon2023.
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Total Volume Traded by Bots (TVP): $796M (↑ 57.6% from September, ↑ 63.4% from August)
Revenue: $280k (↑ 26% from September, ↑ 56% from August)
Expenses: $70k (consistent with September and August)
EBITDA: $210k (↑ 38% from September, ↑ 91% from August).
Strong revenue growth and significant improvement in EBITDA while maintaining stable expenses indicate improved operational efficiency.
Also, we've started marketing in Latin America (Argentina + Mexico) with two partners and expect to see initial results by early 2025. This move opens up exciting growth opportunities, and we're eager to make the most of this new market.
Founded in 2022, Veles has achieved significant growth since August 2023, with revenue increasing nearly 9x and active users growing 4.5x.