By
Steve Muchoki
April 23rd, 2024
With the help of the Telegram application, Unibot users have traded a total of $54 million worth of tokens
In the recent development, Telegram-based trading bots have been attracting crypto traders in large numbers. These bots have enabled users to trade tokens as easily as they chat with each other on the messaging app. Driving a majority of the traffic is Unibot launched earlier this year in May 2023. The Unibot trading bot has gained massive popularity on Telegram with its native UNIBOT tokens shooting up by more than 54% over the last week. As per data from Dune Analytics, the team has also reported a steady spike in user growth.
ATH in metrics that truly matter.
Focused 🦄🤖 pic.twitter.com/89Ql49Qqni
— Unibot (@TeamUnibot) July 14, 2023
With the help of the Telegram application, Unibot users have traded a total of $54 million worth of tokens. At the same time, Unibot has also distributed $1 million in revenue back to the users. These rewards are very much in proportion to the total number of tokens held by holders who receive 40% of transaction fees and 1% of UNIBOT’s total trading volume.
These products are appealing because they are easier to use than decentralized exchanges like Uniswap. Users don’t have to log in to their wallet repeatedly, double-check token information, or pay high fees to ensure successful trades.
Some of the popular crypto market traders have also shared their opinion on using the Telegram-based Unibot. Popular Crypto Twitter trader @blknoiz06 noted that “main problem w/ trading on-chain is terrible UX, unibot allows you to easily market buy/sell w/ 1 telegram command”. Another trader @0xKawz also explained:
“Trading directly through telegram is great for fast swaps, scalps, etc.”
In the last 24 hours, newer tokens like Wagiebot (WAGIEBOT), 0xSniper (0XS), Bridge (BRIDGE), and Bolt (BOLT) have surged by up to 500%, mirroring Unibot’s growth. The combined market capitalization for this niche sector is currently under $100 million, indicating the potential for higher and more profitable returns as it continues to grow.
Telegram and Crypto Wallets
The Telegram Messenger is looking to migrate to a Web3 protocol via the TON blockchain network. Earlier this year in March 2023, Telegram added the world’s largest stablecoin Tether (USDT) to its wallet bot. Adding Tether (USDT) to Telegram’s bot marketplace enhances users’ capability to navigate the crypto market during times of increased volatility. Stablecoins like USDT offer crypto traders a shelter to protect their profits in turbulent market conditions.
Recently, Telegram’s CEO Pavel Durov revealed that the messaging platform issued $270 million worth of bonds to fuel its growth and development. Durov shared that the platform is continuously expanding and attracting approximately 2.5 million new users every day.
Additionally, the CEO disclosed that he personally invested in 25% of the bonds, contributing substantial funds to support Telegram’s growth.