Unibot Tokens from Telegram-based Exchange Skyrocket 200x, Records with All-Time High

By 0xK2 07/28/23 2:13 PM

In a cryptocurrency market that has been relatively stagnant, one token has managed to buck the trend and soar to incredible heights. Unibot tokens, the native currency of the Telegram-based exchange Unibot, have experienced a meteoric rise in value, turning early investors into overnight millionaires.

Over the past few months, Telegram-based bots have gained popularity among cryptocurrency enthusiasts. Unibot, a platform that facilitates trading through Telegram, has emerged as a significant player in this space. Its unique approach to trading has garnered attention, resulting in a surge in demand for its native token.

At the time of writing, Unibot was trading at an impressive $196.47 on Coingecko, showing a 23.6% increase in the past 24 hours alone. The token reached a record high of $199.3 the previous evening, marking a remarkable achievement for its early backers. It is worth noting that Unibot’s price has tripled in value during the month of July, contributing to its market capitalization of approximately $195 million, ranking it 168nd on Coingecko. The 24-hour trading volume for Unibot stood at $17.25 million, placing it at the 118th position.

What has made Unibot’s ascent even more remarkable is the staggering returns it has generated for its early investors. Those who had the foresight to invest in Unibot and held onto their tokens have reaped almost 200 times their initial investment. This unprecedented growth has caught the attention of the crypto community and has sparked interest among new investors seeking to capitalize on this opportunity.

Data from Dune Analytics reveals that the Unibot platform has generated an impressive 3,600 ETH of fee income since its launch in May. Some of these fees have been directly distributed to token holders, adding another layer of attractiveness for investors. Furthermore, the number of users on the platform has experienced a steady upward trend, with the user count reaching 6,500 at the latest update. This represents a significant increase compared to the end of June, when there were slightly more than 2,000 users.

While Unibot’s success is undeniable, it is essential to maintain perspective when comparing its trading volume with more established decentralized exchanges like Uniswap. Unibot’s average daily trading volume of just over $5.5 million is indeed impressive, but it falls far short of the colossal $900 million daily trading volume witnessed on Uniswap. Nonetheless, the growth trajectory and the increasing interest in Unibot suggest that it may continue to gain ground in the market and could present a viable alternative for traders looking for a more unique trading experience.

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