In its most recent report, Binance Research has published its research on Telegram bots, whose activity has recently increased in the crypto money market.
Telegram bots allow traders to perform trading, arbitrage opportunities, airdrop farming and other functions automatically and with a user-friendly interface.
According to Binance's report, the cumulative total volume of transactions made through Telegram bots exceeded $190 million, and on July 23, 2023, a record $10 million in daily trading volume was reached.
The revenue model of Telegram bots includes charging users a transaction fee and, in some cases, a purchase or sale “tax” for transactions involving a bot's native token.
According to the report, the total revenue generated by Telegram bots exceeded $28.7 million.
Binance researchers say it is still too early to measure organic demand, as most of the current activity on these bots is driven by rapidly rising token prices.
Binance researchers also mentioned local altcoins used by Telegram bots in their report. In the report, Unibot (UNIBOT), Maestro, MEVFree (MEVFREE), ChainGPT (CGPT), Wagiebot (WAGIEBOT), Collab.Land (COLLAB), LootBot (LOOT), Mizar (MZR), JDB (JDB), UniWhales (UWL) projects name is mentioned.
The report states that more than 77% of the Telegram bot market consists of UNIBOT tokens.
*Not investment advice.