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Telegram-based trading bots are rapidly gaining popularity among crypto traders, enabling them to speculate on tokens as effortlessly as exchanging messages on the widely used messaging app.

Unibot (UNIBOT) appears to be the frontrunner in the pack, having launched in May and rapidly amassing a devoted following. Over the past week, UNIBOT tokens surged by an impressive 54%, while Dune Analytics data shows a consistent and significant increase in user growth for the platform.

 

 

According to the data, Unibot users have engaged in trading tokens worth a staggering $54 million through the platform, and as a result, the application has disbursed almost $1 million in revenue back to its users. These rewards are distributed proportionally based on the amount of tokens held by each user, with holders receiving 40% of the transaction fees and 1% of UNIBOT's overall trading volume.

The popularity of these products can be attributed to their user-friendly nature, offering convenience that sets them apart from decentralized exchanges like Uniswap. In decentralized exchanges, users often face the hassle of repeatedly logging into their wallets, verifying token information, and dealing with high transaction fees just to ensure their trades are successful.

“Main problem w/ trading on-chain is terrible UX, unibot allows you to easily market buy/sell w/ 1 telegram command,” writes popular Crypto Twitter trader @blknoiz06. “Trading directly through telegram is great for fast swaps, scalps, etc,” explains @0xKawz, another trader.

In the past 24 hours, newer tokens like Wagiebot (WAGIEBOT), 0xSniper (0XS), Bridge (BRIDGE), and Bolt (BOLT) have surged by an astonishing 500%, with traders eager to seize opportunities presented by these tokens mirroring Unibot's remarkable growth.

As per the data provided by CoinGecko, the combined market capitalization of this particular niche sector currently stands at less than $100 million. As this sector continues to progress and gain traction, traders may be presented with the prospect of achieving higher and more attractive returns on their investments.