Business News Report Technology
July 24, 2023

Trading Bot Unibot Generates $650,000 in Fees in One Day

In Brief

Telegram-based trading bot Unibot generates $650,000 in gas fees in one day.

Since the bot’s launch on May 25, it has generated $2.57 million in fees.

Such Telegram bots as Unibot might not be entirely safe. So, individuals wishing to use it must do research and be careful when making transactions.

The new trading bot Unibot has generated $650,000 in gas fees. Unibot is a free-to-use Telegram-based bot. It offers seamless and fast trading on the go. According to the description on the official website of the bot, it enables users to trade six times faster than on Uniswap.

Trading Bot Unibot Generates $650,000 in Fees in One Day

Along with other trading bots, Unibot is becoming a popular solution for trading. On July 23, its token, $UNIBOT, was listed on the Crypto.com application. The same day, the bot generated $650,000 in fees from transactions, according to DefiLlama.

Overall, since Unibot launched on May 25, it has generated $2.57 million in fees. As of the moment of writing, the market cap is $150.73 million.

Unibot offers a suite of features, including “limit orders,” “mirror sniper,” “fail guard sell,” and “private transactions.” The platform also has a real-time token scanner that allows customers to create alerts on newly created tokens on the Ethereum blockchain. When buying or selling tokens, users can get protection from the transactions failing. More than that, individuals can front other buyers in the same block with higher gas prices. Even though it is a bot, users must still pay gas fees when making transactions. 

When a new user joins the bot, the latter generates three new wallets, one of which must be funded on the Ethereum network. Then, users must top up one of the addresses with ETH before they can start trading. 

It is important to note that you should do your own research before using any trading bot. Such Telegram bots, as Unibot and Genie Bot, might not be entirely safe. So, individuals wishing to trade using bots can transfer their funds back to their old-school crypto wallets when closing their trades. 

Generally speaking, Twitter users believe that Telegram trading bots are going to start replacing existing web3 wallets, such as MetaMask and Block Wallet. However, there are also chances that most of the trading bots will go to zero as the market becomes oversaturated.

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Disclaimer

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About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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