Crypto Traders Flock to Unibot as Telegram Bot Tokens Near $100M Market Cap

Telegram-based trading bots are quickly attracting scores of crypto traders, allowing their users to punt on tokens just as easily as they would send messages to each other on the popular messaging app.

The leader of the pack seems to be Unibot , which launched in May and has briskly gained a cult following. UNIBOT tokens have risen over 54% over the past week, and the team has reported a steady spike in user growth,Data shows Unibot users have traded $54 million worth of tokens using the application, with the platform distributing nearly $1 million in revenue back to users.

The appeal for such products is likely due to the ease of usage compared to a decentralized exchange, such as Uniswap, where users have to continually log in to their wallet, cross-check if all token information is correct, and encounter high fees to ensure their trades go through. “Main problem w/ trading on-chain is terrible UX, unibot allows you to easily market buy/sell w/ 1 telegram command,”

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A Crypto Ruling Ripples Across the Industry - The Journal. - WSJ PodcastsLast week, a federal judge ruled that crypto company Ripple Labs did not violate securities laws by selling its token to retail investors. The ruling is seen as a setback for the Securities and Exchange Commission's strategy to regulate cryptocurrencies and as a victory for the crypto community as a whole. WSJ’s Vicky Huang explains. Further Listening: -SEC Chair Gary Gensler On His Crypto Crackdown -A Crypto Exchange Crackdown Further Reading: -Ripple Ruling Deals a Blow to SEC’s Effort to Regulate Crypto
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