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As Bitcoin leads market recovery, Telegram bots get their time to shine

Press Releases Crypto News AMB-Crypto As Bitcoin leads market recovery, Telegram bots get their time to shine

UNIBOT outperformed all of the top cryptocurrencies while the social volume also increased.
A research paper opined that bot tokens may continue to be relevant.

Certain players emerged as influential drivers of trends and sentiments as the broader market went quiet for most of July. One of the sectors that thrived was Telegram bots, with tokens like UniBot and LootBot rising to the stage and gaining market attention.

How much are 1,10,100 UNIBOTs worth today?

Bots’ season to flourish

The rise of Bitcoin [BTC] did not fizzle out the narrative controlled by UniBot. According to CoinMarketCap, UNIBOT gained 21.15% in the last 24 hours, much more than any cryptocurrency in the top 10.

Like UNIBOT, LOOT also gained as high as 24.88% within the same period. The rise of Unibot and Lootbot could be linked to the increasing adoption of automated trading algorithms by traders who use their smartphones.

As a result of the traction, the market capitalization of both projects increased. But UNIBOT has been noteworthy as its market cap rose to $179.75 million. The hike in market cap suggests how UNIBOT has been a beneficiary of increased liquidity and an increase in price.

Furthermore, the trading volume also maintained a considerable height level. At press time, UNIBOT’s trading volume was $15.17 million. Rising prices on rising volumes indicate increased momentum and the potential for prices to surge further.

Besides the increase in volume, on-chain data also showed that the bot’s social volume has been increasing. Social volume is built on top of data from social interaction platforms.

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Author: Victor Olanrewaju

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