In an update, the Aquis-listed blockchain, open finance and crypto venture operator said as of December 21 its fully vested cryptocurrency and token treasury, excluding cash, stood at US$1.09mln and is predominantly denominated in tokens including Bitcoin, Ethereum, ICX Coin and RIF Token.
The company also said that it has a further US$127,190.67-worth of RIF tokens will be vested monthly over the forthcoming 23 months.
Coinsilium added that since its last crypto treasury update on August 20, it has taken advantage of the “prevailing high levels of liquidity in the markets” in order to divest the bulk of its lesser valuable tokens, most of which have been received from its historical token-sale advisory work, and trade into more liquid positions demonstrating stronger long term growth potential.
Meanwhile, the firm said its staking activities in relation to its vesting RIF tokens are continuing along similar prudent lines as stated in August, adding that it is seeing growing levels of activity and adoption of solutions on the Money on Chain (MoC) platform, which uses RIF tokens, and that the price of RIF has increased 60% over the last three months.
However, Coinsilium said it believes it is “likely to take some time before staking activities alone will have the potential to generate returns on a par with those achievable from other active treasury management strategies” such as yield optimisation via decentralised finance (DeFi) platforms.
The company also said that its entry into the non-fungible token (NFT) market, announced on December 17, is expected to become “particularly pertinent” to its ongoing crypto treasury management, as any revenues derived from the trading of NFTs on digital marketplaces will be denominated in cryptocurrencies. As such, the firm said it will be putting in place “appropriate strategies” to actively manage its expected future cryptocurrency revenues and cash flow.
Shares in Coinsilium were trading around 3.1p in late-morning on Monday.