• Unibot, the leading project in the Telegram bot token category, is nearing a $100 million market capitalization.
• The rapid price gains have come with an increase in the number of users and trading volume.
• Both CoinMarketCap and CoinGecko have listed Unibot and other Telegram bot tokens in their own category.
Telegram Bot Token Market Booming
The crypto trading world has been abuzz lately due to the impressive performance of Telegram bot tokens. The largest and most well-known token in this category, Unibot has experienced a huge rise in value over the past 30 days alone, bringing it close to a $100 million market capitalization.
Unibot Gaining Traction
This growth has been accompanied by an increase in user numbers for Unibot as well as record high levels of bot trade volume. This technology simplifies trading on decentralized exchanges (DEXs) like Uniswap by allowing users to place trades directly through Telegram commands rather than having to go through several steps on a website or pay high transaction fees. Crypto traders have praised this innovation on Twitter, citing its convenience for quick swaps and short-term trades.
CoinMarketCap & CoinGecko Listings
In recognition of this new type of token, both CoinMarketCap and CoinGecko now list them in their own category with Unibot currently at the top. According to data from CoinGecko, these tokens have a combined market capitalization of nearly $100 million and over $17 million worth of trades taking place every 24 hours.
Bobby Ong, co-founder and chief operating officer at CoinGecko believes that Telegram bot tokens will be “the next crypto meta” within 1-2 months time – indicating enthusiasm about future prospects for these tokens.