In the midst of an ever-changing crypto market, one niche sector token has emerged as a promising player, seeing its holders sitting on nearly 200 times their initial capital. Unabashedly defying the bearish tendencies, the Telegram-based exchange Unibot is gaining considerable favor among investors.
UNIBOT prices have astoundingly tripled since July’s outset, even clocking in a 40% rise in the past 24 hours, hitting the $200 mark, and boasting a market capitalization of $180 million. The platform, leveraging the ubiquity of Telegram-based tools, provides a seamless conduit between user wallets and the decentralized exchange Uniswap, letting market players deal in tokens as naturally as they would exchange simple messages via the popular messaging app.
It’s the platform’s distinctive offerings that make Unibot uniquely attractive. The platform extends the sophistication of on-chain trading, even paying out dividends in spot ether (ETH) to its token holders, directly commensurate with the revenue generated on the platform.
On-chain data reflects a striking growth in interest towards Unibot. The platform, since its launch in May, has pulled in 3,600 ether in fees and its user base has seen a surge from just over 2,000 at June end to 6,500 most recently. Furthermore, Unibot’s average daily volumes stand at a respectable notch above $5.5 million keeping a certain distance from market-leading DEX Uniswap’s $900 million a day.
The underlying allure for platforms like Unibot may well be rooted in its ease of use compared to a decentralized exchange like Uniswap, sparing its users from the continual wallet logins, token information cross-checks, and considerably high fees to ensure successful trades.
The conjunction of this user-friendly utility and lucrative fee-sharing model positions Unibot on an upward trajectory of attraction for its tokens. Trading enthusiasts, particularly under favorable market conditions, are prone to gravitate towards projects offering passive payouts. Thus, the demand for UNIBOT tokens may quite likely see an uptrend in the future.
Source: Coindesk
