Bitcoin

Binance Research has published a new report focusing on Telegram bots, which have gained popularity in the crypto market.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/0261d7db694c44b589f64b79acafb7d1.gif" />These bots enable traders to automate various activities, including trading, arbitrage opportunities, and airdrop farming, using a user-friendly interface.The <a href="https://cryptosheadlines.com/sp-report-challenges-cryptocurrencies-as-an-inflation-hedge/" rel="noopener noreferrer nofollow">report sheds light on the growing role of these bots in the cryptocurrency</a> space.As per Binance’s report, <a href="https://cryptosheadlines.com/popular-memecoin-surpasses-bitcoin-in-record-transaction-volume/" rel="noopener noreferrer nofollow">transactions through Telegram bots have surpassed $190 million in total volume</a>. On July 23, 2023, a record-breaking daily <a href="https://cryptosheadlines.com/binance-witnesses-surge-in-pepecoin-trading-volume-as-crypto-whales-amass-millions/" rel="noopener noreferrer nofollow">trading volume of $10 million</a> was achieved.Telegram bots generate revenue by charging users a transaction fee. Additionally, some bots impose a “tax” for transactions that involve their native token. This revenue model allows the bots to sustain their operations and <a href="https://cryptosheadlines.com/hashkey-exchange-partners-with-standard-chartered-offers-crypto-trading-to-retail-services/" rel="noopener noreferrer nofollow">offer services</a> to users.According to the report, Telegram bots have generated a total revenue of over $28.7 million. Binance researchers noted that it’s still too early to measure organic demand since most of the bot activity is driven by the rapid rise in <a href="https://cryptosheadlines.com/release-of-500-million-xrp-tokens-from-escrow-causes-price-drop/" rel="noopener noreferrer nofollow">token prices</a>. <a href="https://cryptosheadlines.com/binances-latest-research-report-explores-altcoin-market/" rel="noopener noreferrer nofollow">Read More...</a>

Binance’s Latest Research Report Explores Altcoin Market

CryptosHeadlines.com

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