⚡Telegram has experienced a burst of activity facilitated by crypto trading bots due to recent rallies of tokens like Unibot, according to Binance Research’s CFO.
rallied as much as 400%According to Chua, UNIBOT was a key contributor to the recent burst of activity on Telegram trading bots. The token reportedly accounts for over 77% of the market in terms of its market capitalization.The analyst suggested that it’s too early to tell if recent growth in Telegram bots-enabled crypto activity suggest a trend reversal or is “merely a blip” before activity rallies again.
“Nonetheless, we will likely see continued developments, at least in the near future, as projects compete for market share,” Chua stated. The CFO also called on users to conduct their own research before interacting with “any Telegram bot.” Considering the nascency of the sector, it’s essential for users to be aware of associated risks, including those related to security of assets and smart contracts, he added.
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