Telegram crypto bots gain momentum in the market: Binance Research

Telegram bots have been increasingly emerging as a new tool to get exposure to cryptocurrency markets and a number of related services.

The cumulative crypto trading volume associated with Telegram bots

The analyst suggested that it’s too early to tell if recent growth in Telegram bots-enabled crypto activity suggest a trend reversal or is “merely a blip” before activity rallies again.

“Nonetheless, we will likely see continued developments, at least in the near future, as projects compete for market share,” Chua stated.

The CFO also called on users to conduct their own research before interacting with “any Telegram bot.” Considering the nascency of the sector, it’s essential for users to be aware of associated risks, including those related to security of assets and smart contracts, he added.

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