NEW DELHI (CoinChapter.com) — Telegram Bot Tokens have become the latest sensation among crypto traders, providing a convenient and efficient way to engage in token trading similar to messaging on the popular app.
Leading the pack is Unibot (UNIBOT leads the pack), a rapidly rising star in the market that has garnered a devoted following since its launch in May. Unibot’s impressive performance is evident in its 54% surge in the past week, and the platform’s team has witnessed a steady surge in user growth, as confirmed by Dune Analytics data.
According to the statistics, Unibot users have traded a staggering $54 million worth of tokens using the application.
Additionally, the platform has managed to distribute close to $1 million in revenue back to its users. These rewards are based on proportional holdings of UNIBOT tokens, with holders receiving 40% of transaction fees and 1% of the total trading volume on the Unibot platform.
The popularity of Unibot and similar products can be attributed to the user-friendly experience they offer, especially when compared to decentralized exchanges like Uniswap.
Traditional decentralized exchanges require users to continuously log in to their wallets, verify token information, and face high fees to execute trades. Unibot streamlines this process, allowing users to execute market buys and sells with just one command via Telegram.
Popular Crypto Twitter trader @blknoiz06 expressed appreciation, stating, “Main problem [with] trading on-chain is terrible UX, Unibot allows you to easily market buy/sell w/ 1 telegram command.” Meanwhile, @0xKawz, another trader, highlighted that trading directly through Telegram is perfect for fast swaps and scalping strategies.
As Unibot’s success continues to draw attention, newer tokens such as Wagiebot (WAGIEBOT), 0xSniper (0XS), Bridge (BRIDGE), and Bolt (BOLT) have experienced remarkable growth, surging up to 500% in the past 24 hours.
Traders are keen to capitalize on these tokens, which seek to emulate Unibot’s meteoric rise in the market.
Despite the excitement surrounding these Telegram bots, the total market capitalization for this niche sector remains under $100 million, as reported by CoinGecko data. This figure suggests the potential for even higher and more lucrative returns for traders as the sector continues to expand.
The surge in popularity of these bots has caught the attention of Bobby Ong, the co-founder and COO of CoinGecko, who recently took to Twitter to shed light on the phenomenon.
Bobby Ong highlighted the convenience and efficiency of these bots, which streamline the process of making high-risk trades and participating in airdrop farming. However, he also pointed out the inherent security risks associated with using such services.
The growing interest in Unibot and similar platforms showcase the crypto community’s appetite for more accessible trading solutions.
