In February 2024, moonshot tokens Bitbot and Solana are entering different trajectories ahead of the scheduled Bitcoin (BTC) halving event later this year.
As the Bitbot presale event gains massive momentum, raising $388k in just 14 days, the Solana price tumbled significantly below its early January highs.
As investors search for the best crypto to invest in now, let's see how Bitbot and Solana compare in the battle of what analysts see as moonshot tokens for 2024.
Telegram trading bots hit over $5 billion in crypto asset trading volume in 2023. With an 800 million user community, Telegram is the perfect space for traders to share information. Trading bots automate this process, with Unibot, Maestro, and Banana Gun becoming leaders.
However, several security issues have hit Telegram trading bots in recent months. Cointelegraph reported that Unibot suffered a $560k hack, Maestro for $485k, and Banana Gun suffered a rug pull that saw it lose over 90% of its value within an hour of reports landing.
This is where Bitbot, the world’s first non-custodial Telegram trading bot, seeks to change the game. Users can store the crypto they want to trade within their cold storage, transferring funds as and when trades are executed. Meanwhile, it has partnered with Knightsafe to resolve the security issue dogging the sector.
Knightsafe has helped Bitbot employ advanced custody technology that replaces private security keys with individually generated key shares across multiple non-trusting parties. This solution does not share data or allow a single party to access a user’s complete security key.
In addition, Bitbot offers users protection against rug pulls and other crypto scams. Anti-MEV features stop bots from skimming off profits made by Bitbot users. At the same time, the protocol also features anti-rug pull protocols that prevent the development team from running for the hills with investors’ money.
This protection against foul play feeds into part of Bitbot’s outstanding tokenomics. 20% of the tokens have been set aside for development. The 12-month linear emission schedule locks the team in for a year, motivating them to work on the platform and preventing any chance of a teamwide rug pull.
Bitbot’s team is stacked with ex-Wall Street trading experts, allowing the platform to tap into financial top-grade knowledge and fuse it with automated AI technology. The result is a highly accessible and intuitive UX and trading experience, perfect for traders of all expertise.
For instance, Bitbot features a powerful sniping tool that identifies moonshot presale opportunities and automated snipe trading execution that employs a buy low, sell high ethos.
In addition, the platform’s copy-trade feature allows users to mimic the trades of the most successful wallets. It provides newbies with a valuable tool to help them build confidence and help traders running short on time.
Other features include a management service that allows users to organize their wallets more effectively and a revenue-sharing scheme that allows holders of the BITBOT coin to earn in the background.
Solana is a layer-2 blockchain platform that offers a fast, scalable, and cheap platform for developers to create decentralized applications (dApps). Its unique hybrid consensus mechanism uses a proof-of-history (PoH) consensus mechanism combined with the proof-of-stake (PoS), which is more familiar in layer-2 chains.
Over the years, Solana has built up a massive following within the DeFi sector. Developers use the platform’s permissionless nature to offer compelling solutions to users.
Since launching in 2020, Solana has grown significantly to become one of the top altcoins by market cap, with a market cap of $42.1 billion at the time of writing. This far eclipses other layer-2 solutions, such as Cardano (ADA).
However, it hasn’t all been plain sailing for the Solana price. Although it saw significant growth in Q3 2023, moving above $120 for the first time since April 2022, recent setbacks have hampered Solana's price performance, notably the hacking scandal that saw investors lose over $4 million from their crypto wallets.
Solana is busily expanding its ecosystem to include meme coins to arrest this slide. The meme coin BONK notably impacted upon release, surging by more than 3000% within a few months.
Despite Solana’s recent struggles, investors see it as a moonshot project in 2024, thanks to its large market cap. In addition, Solana is aiming to diversify its ecosystem to maintain pace with other fast-growing crypto platforms.
Analysts expect the Solana price to return above $120 this year, potentially driving toward $150 if the Bitcoin (BTC) halving event provokes a bull run, as analysts predict.
While this is excellent news for existing Solana investors, the performance pales against Bitbot’s forecasted price action.
After launching its crypto presale on the 17th of January 2024, at just $0.01, Bitbot has already seen a massive take-up of its non-custodial trading bot solution. Indeed, investors are betting on it for exciting returns, given the recent performance of other trading bots.
Unibot, the number one Telegram trading bot, saw an almost 1500% increase in price as it hit $236 within a month. With a market cap of almost $70 million at the time of writing, there is plenty for Bitbot to aim at.
Similarly, Banana Gun saw a 3x price increase from its all-time low after the suspected rug pull and is now valued at more than $32 million in market cap.
Given these examples of the telegram trading bot's potential, Bitbot's superior offering deserves its reputation as a moonshot project in 2024. With the backing of more than 100,000 followers on X, analysts are predicting that Bitbot could provide earliest-stage investors with up to 100x returns in 2024/5.
Telegram trading bots are evolving quickly to become part of the intelligent crypto trader’s tool kit, and with a projected bull run lingering just over the horizon, Bitbot’s exciting presale event couldn’t be better timed.
With its enhanced security compared to other trading bots, Bitbot isn’t just the best investment opportunity in the sector; it’s also likely to eclipse the forecasted Solana price performance this year.
In light of Unibot's 200x gains for the earliest presale investors - as reported by CoinDesk - Bitbot's 100x estimates are quite conservative. It's still possible for investors looking for the best moonshot project of 2024 to grab their share of the rapidly selling 300 million tokens on offer during the 15-stage presale.
To learn more and purchase BITBOT tokens, visit the official website.