- BITBOT is a new Telegram trading app that starts pre-sale on January 17, 2024.
- Cryptocurrencies and Bitcoin ETFs are gaining attention as traders seize the opportunity.
- BITBOT holders can benefit from a unique revenue sharing model.
Cryptocurrency news headlines last week were mainly about the launch of a spot Bitcoin ETF. While the focus will likely continue to be on ETFs and potential near-term Bitcoin price outlook, this week could be a big one for traders due to the launch of Bitbot (BITBOT).
BlackRock holds 11,439 BTC amid ETF excitement.
BlackRock’s IBIT Bitcoin ETF has been one of the main drivers of spot Bitcoin ETF inflows and trading volume since its launch on January 11. According to the data, the asset manager’s holdings increased to 11,439 BTC over two days of trading.
Eric Balchunas, senior ETF analyst at Bloomberg, also said: shared Data showing Bitcoin ETFs received more than $1.4 billion in new cash inflows over two days. Grayscale’s recorded GBTC outflows were approximately $579 million and net inflows were over $819 million.
Meanwhile, BlackRock’s IBIT led the trend with cumulative trading volume of $3.6 billion from 500,000 individual transactions, reaching $500 million. When GBTC figures were included in the analysis, individual transactions reached 1.2 million, which the analyst calls an “impressive” performance.
Bitcoin price is expected to rebound due to additional demand pressure. While the sharp decline in BTC following the launch of the Bitcoin ETF has left traders confused, analysts believe the market will eventually come to terms with the long-term impact of the ETF’s approval.
Among the tools traders may want to utilize as the market matures is Bitbot.
What is BITBOT?
BITBOT is a new Telegram trading bot that is attracting attention as the world’s first non-custodial bot.
One of the key aspects that sets Bitbot apart from current Telegram bots is its focus on security and user privacy. Aside from the benefits of access to institutional-grade trading tools, complete custody of your assets is a key factor.
Retail traders eyeing the launch of this bot believe that its strong security, enhanced by MPC management technology and backed by the Knightsafe smart contract wallet, is a huge improvement over the current offering.
Bitbot’s Anti-MEV Bot and Anti-rug features are great additions that will help the Telegram trading community avoid incidents like the one that hit Maestro and Unibot in 2023.
Bitbot pre-sale begins this week.
Powering this platform is the native ERC-20 token BITBOT. It is a governance token and also provides access to custom wallet management and low gas options for trading bots.
BITBOT is also vital to Bitbot’s revenue sharing mechanism, giving holders the opportunity to earn a share of the profits as the platform expands its utility across the trading ecosystem.
The total supply of BITBOT is 1 billion, of which 30% will be available for public pre-sale starting January 17, 2024.
Learn more about Bitbot’s upcoming releases here.