Crypto’s Newest Sector: Telegram Bot Coin Economy Swells to $138 Million

Crypto's Newest Sector: Telegram Bot Coin Economy Swells to $138 Million

A new player has emerged in the constantly evolving cryptocurrency market: Telegram bot coins. These crypto assets, used within Telegram’s ecosystem, are leveraged to facilitate automated trades for users on decentralized exchange (dex) platforms. These distinctive crypto assets have turned into a growing economy worth $138 million.

Telegram Bot Coins Enter the Crypto Marketplace

The evolution of the cryptocurrency landscape is a spectacle, consistently enriched by an array of inventive projects. Notably, Telegram bot coins have created interest among crypto investors. They are a type of cryptocurrency used within the Telegram ecosystem, serving as automated programs that facilitate trades for users on decentralized exchanges (dexs) and can implement yield farming strategies.

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Fundamentally, these coins empower users by facilitating token trades through Telegram, all in an uncomplicated, chat-like environment. The leading Telegram bot coin in terms of market valuation today is unibot (UNIBOT), boasting a market cap of $117 million. Unibot’s market cap represents more than 84% of the total Telegram bot coin economy. Below unibot, seven additional Telegram bot coins each hold a market cap of $1 million or more.

The second largest, mevfree (MEVFREE), has a valuation of around $5.7 million. Of the 36 Telegram bot tokens listed on coingecko.com, the crypto assets have tallied $32.40 million in global trade volume in the past 24 hours. On coingecko.com, the unibot (UNIBOT) listing carries two warnings. One indicates the project’s migration to a new contract while the second cautions about a variable tax function on the smart contract. “Do your own research and be careful if you are trading this token,” the warning on coingecko.com advises.

With a circulating supply of 1 million unibot tokens, etherscan.io shows a count of 4,122 token holders. The top ten unibot wallet holders control 16.40% of the total supply. The top 50 holders possess 42.58% of the 1 million unibot coins, and the top 100 addresses control 56.55% of the supply. In comparison, the second-largest Telegram bot coin, mevfree, has fewer holders with 961 wallets as of July 24.

The top ten mevfree holders govern 43.58% of the total supply, amounting to 52,689,548 mevfree. The coin’s top 100 wallets encompass 80.52% of the supply. Alongside the inherent volatility of Telegram bot tokens, they feature a pronounced concentration among sizable holders.

What do you think about the Telegram bot coin economy? Share your thoughts and opinions about this subject in the comments section below.

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