According to recent data compiled on Dune Analytics, Banana Gun, a Telegram DEX trading bot, has shown daily trading volume of over $16 million.
This is part of a growing trend in bot usage, which is now estimated to exceed a cumulative total of $4 billion.
Banana bot active users
The Dune Analytics dashboard shows that the trading bot registers approximately 19,000 trades daily among its 3,000 active users. Since its inception in June, the platform has garnered a substantial user base, boasting almost 46,046 lifetime users. This popularity is reflected in its lifetime trading volume, which has reached a substantial $589 million.
Banana Gun is just one of the categories of trading bots that developers create for users to easily trade meme coins, farm airdrops, and bridge tokens.
A subject of hacking
Unfortunately, along with growing interest, a larger question around user safety has arisen.
An Oct. 25 report from Banana Gun has also shown that the crypto-focused Telegram Bot project, Maestro, recently fell victim to a 280 ETH hack and had to return a total of 610 ETH to its users, marking another in a long line of related scams.