Your team's velocity going up can mean that:
* Your team did more work this week.
* Your team worked more efficiently this week.
* Your team inflated its story point estimations this week.
Any one or all of those things could have happened in varying degrees.
Given all of that, what useful knowledge is it actually supposed to impart?
The best part is the number of story points / velocity can vary wildly depending upon what the team believes the measure is being used for.