- Bitbot (BITBOT) is a new Telegram trading app that launches its presale on January 17, 2024.
- As traders eye opportunities, cryptocurrencies and Bitcoin ETFs are getting in the spotlight.
- BITBOT holders will benefit from a unique revenue sharing model.
Cryptocurrency news headlines last week were predominantly about the roll out of spot Bitcoin ETFs. While focus is likely to continue hovering around the ETFs and the potential short term Bitcoin price outlook, this coming week could be big for traders amid the launch of Bitbot (BITBOT).
BlackRock holds 11,439 BTC amid ETF excitement
BlackRock’s IBIT Bitcoin ETF was one of the key drives of the inflows and trading volume for spot Bitcoin ETFs after their debut on January 11. Data shows the asset manager’s holdings rose to 11,439 BTC over the two days of trading.
Eric Balchunas, a senior ETF analyst at Bloomberg, also shared data showing Bitcoin ETFs saw more than $1.4 billion in new cash over the two days. With Grayscale’s GBTC’s recording outflows of about $579 million, the net inflows stood at over $819 million.
Meanwhile, BlackRock’s IBIT led the flows with $500 million as the cumulative trading volume hit $3.6 billion from 500,000 individual trades. If the analysis includes GBTC figures, individual trades reached 1.2 million, which the analyst says is an “impressive” feat.
The anticipation is that Bitcoin price will bounce amid further demand pressure. While the sharp BTC decline that followed Bitcoin ETF’s launch had traders scrambling, analysts believe the market will eventually embrace the long term impact of the ETFs’ approval.
Among tools that traders might want to tap into as the market matures is Bitbot.
What is Bitbot (BITBOT)?
Bitbot (BITBOT) is a new Telegram trading bot that’s billed the first non-custodial bot in the world, and is attracting huge attention.
One of the key aspects setting Bitbot apart from current Telegram bots is its focus on security and user privacy. Other than the advantage of access to institutional-graded trading tools, full custody of one’s assets is a major factor.
Retail traders eyeing this bot’s upcoming launch also see its robust security, enhanced by MPC custodial technology and backed by Knightsafe smart contract wallet, as a huge improvement on current offerings.
Bitbot’s Anti-MEV Bot and anti-rug features are also huge additions that will see the Telegram trading community avoid incidents such as those that hit Maestro and Unibot in 2023.
Bitbot presale goes live this week
Powering this platform is the native ERC-20 token BITBOT. This is the governance token and will also offer access to the trading bot’s bespoke wallet management and low gas options.
BITBOT is also crucial in Bitbot’s revenue-sharing mechanism, offering holders an opportunity to earn a share of the revenue as the platform expands its utility across the trading ecosystem.
BITBOT has a total supply of 1 billion tokens, 30% of which is set for public presale starting on January 17, 2024.
Learn more about Bitbot’s upcoming launch here.