Markets

BlackRock’s spot Bitcoin ETF hits a new record trading volume: Will crypto trading volume soar higher?

Key takeaways

  • BlackRock’s spot Bitcoin ETF achieved a trading volume of $1.3 billion for the second consecutive day.

  • BTC touched $57k as Bitbot’s presale approaches $750k

BlackRock’s IBIT trading volume soars higher

Bitcoin has been performing excellently since the start of the week, thanks to BlackRock’s IBIT and other spot Bitcoin ETFs. 

BlackRock’s IBIT recorded a trading volume of $1.3 billion for the second consecutive day. The ETF recorded a trading volume of $1.35 billion on Tuesday, surpassing the $1.3 billion reported on Monday. 

The positive performance also means that BlackRock’s IBIT was the fifth most traded among all U.S.-listed ETFs during the morning hours. The record numbers from spot Bitcoin ETFs continue to show an increasing appetite for Bitcoin by institutional investors.

The rising trading volume could also spill into the crypto market and this is where projects like Bitbot could offer excellent use cases to traders and investors. 

What is Bitbot?

To understand its value proposition to traders, we first have to know what Bitbot is and what it offers. 

Bitbot is a Web3 project that seeks to provide excellent services to cryptocurrency traders. It is a Telegram trading bot that allows traders to gain access to some exciting features that would help them with their cryptocurrency trading journey. 

What makes Bitbot unique is that it is a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. The project is leveraging Telegram’s position as a leading social media platform for crypto users.

The team explained that the Bitbot tool will come with several high-end features designed to help traders grow their trading features. These features are usually available for institutional investors but, Bitbot will make it easy for retail traders to use. 

As the trading volume in the crypto market rises, Bitbot will seek to gain massive adoption in the market. Bitbot could provide services to retail and institutional traders in the cryptocurrency market. 

Bitbot’s unique trading features

Bitbot is a Telegram trading tool that will focus on offering tech-savvy features to ease the trading process for users. Per their whitepaper, the development team is working on some features to help traders grow their trading portfolios. 

Bitbot will focus primarily on security. It will leverage the Knightsafe feature to offer a self-custody solution, mitigating the typical risks associated with Telegram trading. Furthermore, Bitbot is also working on deploying its anti-MEV and anti-rug solutions for users to protect their assets. With these features, traders can protect themselves from bots artificially pumping transaction costs and block scam projects.

In addition, Bitbot will integrate an ultra-flexible wallet management powered by non-custodial API technology to provide an added layer of security.

To help new traders navigate the market and gain expertise, Bitbot will also launch a copy trading feature. This feature allows novice traders to copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale approaches $750k

The Bitbot presale is progressing excellently and it is currently in its fourth stage. So far, Bitbot has raised $736k of the required $862 for this stage. 

The growing funding rate shows that Bitbot is attracting interest from investors. Currently, the $BITBOT token is going for $0.0116 but is set to increase to $0.0122 once the fifth round commences.

In its whitepaper, the Bitbot development team clarified that they would hold 20% of the total token supply and would use it to fund ongoing development. Furthermore, 14% of the total token supply is allocated to marketing & CEX listings. Also, another 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale.

Could Bitbot’s token soar higher after presale?

Traditionally, cryptocurrency prices tend to soar higher after presale, after getting listed on cryptocurrency exchanges. So far, Bitbot’s presale is going excellently and its token could rally higher once it gets listed on CEX and DEXs.

With the right level of adoption, Bitbot could be one of the biggest winners in this bull cycle. The project could take advantage of the rising trading volume spurred by the Bitcoin halving and other external factors in the market. 


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button