Research Summary
The report discusses the recent surge in attention towards Telegram bots due to increasing token prices and media coverage. The bots offer various functions like trading, sniping, airdrop farming, etc., making crypto activities user-friendly and easily executable on mobile devices. The cumulative lifetime volume of trades facilitated on Telegram bots has exceeded US$190M, with a record high of US$10M in daily trading volume recorded on July 23, 2023. However, the report cautions users to conduct their own due diligence before interacting with any Telegram bot.
Actionable Insights
- Telegram bots are gaining popularity: The surge in token prices and media coverage has led to increased interest in Telegram bots. These bots offer a range of functions, making crypto activities easily accessible.
- Significant trading volume: The cumulative lifetime volume of trades facilitated on Telegram bots has exceeded US$190M, indicating significant usage.
- Revenue model of Telegram bots: Telegram bots generate revenue by charging users a transaction fee and, in some cases, a purchase or sales “tax” for transactions involving a bot’s native token. Total revenue captured by Telegram bots has surpassed US$28.7M.
- Caution for users: The report advises users to conduct their own due diligence before interacting with any Telegram bot, indicating potential risks involved.
