In July, the daily volume of cryptocurrency trading using Telegram bots exceeded a record $10 million, with over 6,000 people using such services every day.
Binance Research presented a report on the results of analyzing the trading activity using Telegram bots and other aspects of this segment. According to the researchers, the total volume of cryptocurrency trading using specialized bots in Telegram exceeded $190 million as of early August 2023.
The daily volume of crypto transactions using Telegram bots reached a record level of $10 million in July. More than 6,000 users used such services daily last month. The total revenue generated by Telegram trading bots exceeded 15,500 ETH (~$28.7 million) for the entire time.
Market share distribution among the most popular Telegram bots:
- Maestro — 52.9%;
- Unibot — 24.6%;
- Banana Gun — 19.7%.
The market capitalization of tokens related to crypto bots is more than $150 million. The largest of them is UNIBOT, which refers to the bot of the same name. It accounts for 77% of the total capitalization of this segment, CoinGecko reports. Its quotes reached an all-time high of $199 on July 28, showing a 400% growth during the month. And since its launch, on May 22, 2023 (just over two months), they’ve grown by more than 6,700%.
According to Google Trends cited in the report, the index of user interest in crypto bots on Telegram reached maximum marks twice at the end of July.
The popularity of Telegram bots is explained by the fact that they allow users to easily perform cryptocurrency transactions via mobile devices in a convenient way. Besides, they provide quite a wide list of functions: different types of trading, including sniping and copy trading, airdrop farming, and others. The document’s authors believe that Telegram bots can potentially become an integral part of the cryptocurrency ecosystem.
At the end of 2022, Telegram introduced an opportunity to create an anonymous account without using a SIM card, the credentials of which would be stored on the TON network. Around the same time, Telegram management announced plans to create a decentralized crypto exchange and a cryptocurrency wallet.
