Bitget General Manager Gracy Chen: The underlying logic of Telegram Bots is "following Smart Money."

ChainCatcher news, recently the Telegram Bot track has been gaining popularity, mainly due to the meme wealth creation myth and the rampant MEV providing fertile ground for the growth of Telegram Bots. Currently, Unibot cannot rely on its product to earn most of its money, but is heavily dependent on token trading (charging a 5% transaction tax). If token trading volume declines, a vicious cycle may occur: "reduced income, deteriorating fundamental data, declining user confidence, token price drop, and weakened wealth effect in the track."

Bitget's General Manager Gracy Chen stated, "To avoid a vicious cycle in the Bot track, continuous progress is needed in both user base and product innovation. There is significant room for growth in current trading volume and number of trading users. Bots expanding from Telegram to Discord, like Wagiebot, may also be a way to acquire new users. In terms of product innovation, Bots may not be limited to Snipe and Front-Run of Tokens in the future, but can also explore new users in the NFT market. Additionally, the underlying logic of Telegram Bots is to 'follow Smart Money,' and now Bitget is the world's largest cryptocurrency copy trading platform; as of June this year, over 100,000 traders have shared strategies on Bitget, and more than 490,000 users have copied their strategies."