Morning Minute | Unibot Hits a 200x as the Crypto Casino Roars On
Take a minute to catch up on the latest in the Web3 space with today's NFT market analysis, top movers, and upcoming mints.
TylerD's Market Summary
UNIBOT hit a new ATH yesterday near $200, as the telegram-bot token 5x's its user base in the past month. The question now - will the growth continue?
📈 UNIBOT Sees a 200x
While the major crypto tokens like Bitcoin and Ether continue weeks and weeks of brutal ongoing chop, there have been some bright spots.
The Telegram-based bot with a revenue share feature has seen its native UNIBOT token soar as of late.
Yesterday it almost touched $200 ($198.11 at peak), the 4th time the token has hit a new ATH in the past 5 days. It sits at $180 this morning, up 19% on the day, 430% on the month, and those who got in very early are up nearly 200x.
Why Is This Happening?
Unibot works like this.
The Unibot platform links user wallets to Uniswap and provides Telegram-based tools to make buys and sells inside Telegram as easy as sending chat messages
They include functionality like pre-setting the amount of ETH to max spend on any given buy, and the ability to exit positions at preset return multiples (i.e. +25%, +50%, etc.).
There is a revenue share feature as well, as Unibot offers spot ETH payouts to token holders, based on the platform's revenue.
To date, they have collected nearly 3,700 ETH in fees translating to $35 in annualized "earnings per share" for token holders, made up of 84% in tax fees and 16% in bot fees.
By The Numbers
Here are some other interesting stats related to Unibot:
- $103M in lifetime trade volume ($5.5M avg daily)
- 153k total trades
- 6,215 cumulative users with an average of 1500-1800 daily users this week
- 24 traders per user on average with $16.5k average volume
So looking at those numbers, it still feels fairly early.
Unibot has only gathered 6,200 cumulative users so far with ~1,500 active users per day. For comparison, those daily users were in the 300-400 a month ago, so they've seen a 5x.
That $5.5M in daily volume is also up about 5x on the month, as it was just ~$1M/day back in late June.
For reference, Unibot's daily trading volume at $5.5M is tiny compared to Uniswap's daily volume of $900M/day.
We can also see which coins the Unibot users are trading.
The leading 5 from this week?
With UNIBOT removed, top-traded coins include HAMS, Wagie, Mog, BITCOIN and 0x7235 - so clearly dabbling in the shitcoins (as expected).
So Unibot is raking in fees, mostly on the back of shitcoin trading, and has 5x'd on the month.
The question now - has it outkicked its coverage with its $180M marketcap, or is it just getting started?
Annualizing the 200 ETH in fees Unibot made this week, we get $135M in fee revenue. That puts the marketcap to annual revenue ratio at ~1.33. We recently saw Rollbit trade around 1:1 with the marketcap to revenue ratio, so not out of line.
It seems the bet on Unibot at this point is a bet on shitcoin season continuing for an extended period of time, as that's where the fees are being generated.
Unibot's features aren't used for spot buys of BTC or ETH. They are for the shitcoin casino.
I don't have a strong personal read here (and disclosure I own no Unibot or any tokens listed above besides ETH and BTC).
But one thing is certain - crypto users love the casino.
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- Trading volume came in around 6.7k ETH on Thursday; leading NFTs saw mostly green again with Pudgy's up 5% to 4.4 ETH, QQL +21% to 9.09 ETH and DeGods back over 8 at 8.15
- Vera Molnar's "Themes and Variations" saw a new ATH sale of 17.99 ETH on Thursday as the project floor soared past 6 ETH, now a 600% gain for minters
- CyberKongz slashed the supply of their Genkai mint to 3,000 after the ETH sale struggled to mint out, while the Ronin sale saw success, with its 3k supply minting out relatively quickly; all holders, on ETH and Ronin, will receive an airdrop of 1 Genkai per minted Genkai
- PROOF updated the Moonbirds Mythics reveal process, making changes showing all the Mythics hatching that day in real-time, better rarity info, direct links to tweeting and more
- World of Women is celebrating its two-year anniversary with the launch of Patio, a new platform allowing WoW members to customize profiles, earn badges, access exclusive opportunities, and network
- Beeple is going to Bentonville, as his sculpture Human One (which sold for $29M) is headed to the Crystal Bridges Museum in Arkansas for display; Beeple is also creating a scavenger hunt using clues in the piece with NFTs as prizes
- The Floor App's first ever ICONS mint "Ground Level Garden" by Vinnie Hager started minting on Wednesday, as the first-ever NFT able to be purchased within the Floor App; holders can customize their app with the NFT to make it their home screen or banner
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- The crypto market was down on Thursday as the days of ongoing chop continue; BTC -1% to $29,200; ETH -0.7% $1,865; UNIBOT was a bright spot, hitting a new ATH over $190 before settling at $173 this morning (+14%)
- Animoca has invested $30M into web3 finance app hi for a strategic partnership, providing deeper integration with Animoca's Brands and hi's services (including their proof-of-human identity solution) to drive web3 mass adoption
- The Sandbox and the British Museum are partnering to introduce a series of digital collectibles, opening the museum to the metaverse with immersive experiences and a collab with LaCollection to develop digital collectibles
🚀 NFT Total Volume
- BAYC (1,161 ETH, 31 ETH Floor)
- MAYC (706 ETH, 5.72 ETH)
- DeGods (624 ETH, 8.15 ETH)
- Azuki (519 ETH, 5.04 ETH)
- Themes and Variations (491 ETH, 6.3 ETH)
📈 NFT Floor Price Increase
- Themes and Variations (120%, 6.3 ETH Floor)
- PepeAI Coupon (96%, 4.56 ETH)
- OnChain Buccaneers (48%, 0.68 ETH)
- Ether Avatar (27%, 0.13 ETH)
- QQL Mint Pass (21%, 9.09 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a slower day of new drops, mostly focused in the gen art world.
Prohibition is back with "Trees of Eufloria" from Silly Tuna and "Infinite Branches" from Dav, the final 2 drops in the inaugural 0-10 set.
Trees is priced at 0.06 ETH with a supply of 256 and Branches is at 0.0369 ETH for 369 supply. As only 4 of the first 9 drops have minted out, this is more of a collector play than a trading play, but worth looking into if you like the art.
If you want more, see the full list of today's drops from Swizzy's daily mint monitor.
- Memes by 6529 (11:00 a.m. ET)
- Prohibition "Trees of Eufloria" (1:00 p.m. ET)
- Prohibition "Infinite Branches" (5:00 p.m. ET)
Enjoy this write-up? Follow along with me on Twitter @tyler_did_it or reach out via email firstname.lastname@example.org.
For all volume and floor price data, see Lucky Trader's Project Rankings page.
For all upcoming mints, see Lucky Trader's NFT Calendar page.