Benzinga - Crypto traders are increasingly turning to Telegram-based trading bots, drawn by the convenience of executing transactions as simply as sending messages via the popular communication platform.
Unibot, which debuted in May, appears to be leading the charge, quickly amassing a dedicated user base.
Over the past week, UNIBOT tokens have seen a 54% increase, and according to Dune Analytics data, the team has observed a consistent rise in user numbers.
Unibot's application has facilitated the trading of tokens worth $54 million, and the platform has returned nearly $1 million in revenue to its users.
These rewards are distributed based on the number of tokens held, with holders receiving 40% of transaction fees and 1% of UNIBOT's total trading volume.
The popularity of such platforms can likely be attributed to their user-friendly nature compared to a decentralized exchange like Uniswap.
On Uniswap (CRYPTO: UNI), users must constantly log into their wallets, verify the accuracy of all token information, and pay high fees to ensure their trades are processed.
Renowned Crypto Twitter trader @blknoiz06 said, “Main problem w/ trading on-chain is terrible UX, unibot allows you to market buy/sell w/ 1 telegram command easily.”
Another trader, @0xKawz, added, “Trading directly through telegram is great for fast swaps, scalps, etc.”
In the meantime, emerging tokens such as Wagiebot, 0xSniper, Bridge, and Bolt have surged by up to 500% in the last 24 hours.
Traders are seeking to profit from these tokens, hoping they will replicate Unibot’s growth trajectory.
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