In current months, a number of mini-cryptocurrency purposes and tasks have been launched on Telegram following the success of Notcoin (NOT). NOT was launched in late 2023 and launched on Could 15, 2024. It attracted over 35 million customers, and its native token skilled a surge of over 300% from its all-time low.
Now, a brand new mini-app referred to as “Blum” on Telegram is gaining consideration for its revolutionary method to cryptocurrency buying and selling. It gives real-world utility and use instances past the meme cash dominating the market.
What’s Blum, and the way does it work?
Blum claims to be a “hybrid alternate” and can be introducing a Telegram mini-app. It goals to redefine the cryptocurrency buying and selling expertise for customers, particularly these in rising markets.
Blum guarantees a novel method by combining entry to tokens from centralized and decentralized exchanges (CEXs and DEXs) inside a single platform. This might supply customers a extra complete vary of buying and selling choices and cater to their danger appetites.
For these unfamiliar with the phrases, conventional centralized exchanges (CEXs) present a user-friendly interface for getting and promoting cryptocurrencies utilizing fiat cash or different crypto belongings. Alternatively, decentralized exchanges (DEXs) supply larger safety and asset management, however utilizing them requires extra technical information. DEXs are peer-to-peer marketplaces the place customers commerce instantly with one another with out the involvement of a government.
Furthermore, Blum’s technique consists of integration with Telegram, which has an enormous person base of just about 1 billion customers worldwide, significantly in areas the place crypto adoption is rising.
Embedding itself as a small software instantly inside Telegram may allow Blum to use this present person base and entry a bigger viewers than a separate cell app.
Whereas the challenge is presently in its preliminary part of permitting customers to earn Blum Factors, which may then be exchanged for actual crypto tokens in a while, Blum could also be heading in the right direction to develop right into a complete hybrid alternate.
The creators of the Telegram mini-app recreation declare they’re dedicated to offering easy entry to all kinds of cash and tokens and providing derivatives buying and selling within the close to future.
Blum turns into the world’s 4th largest Telegram channel
Blum has already gained over 10 million customers inside simply two months of its launch, reaching a number of key milestones that point out potential success because it prepares for its official launch and token itemizing.
As of a June 6 tweet from the X staff, the Blum Telegram channel has develop into the fourth largest Telegram channel globally, boasting over 9.6 million subscribers. It follows intently behind Hamster Fight, Tapswap, and Telegram Suggestions.
Hamster Combat, one other new tap-to-earn challenge on Telegram that has but to be launched, has claimed the highest spot because the world’s largest Telegram channel with over 31 million subscribers. In the meantime, Notcoin’s channel has dropped to fifth place, with simply 7.9 million customers.
Rating of Telegram Channels (Supply: TGStat)
Moreover, Binance Labs announced Blum as one of many 13 early-stage tasks on March 1. Blum was chosen from over 700 candidates for season 7 of the Most Worthwhile Builder (MVB) Accelerator Program.
Whereas being a part of the MVB Accelerator Program does not assure funding within the tasks, being included on such a listing signifies that even main gamers like Binance see potential within the Blum crypto challenge.
Trying forward, it would make sense to keep watch over Blum’s entry into the crypto buying and selling area with its Telegram mini-app. The approaching months can be vital for Blum as they introduce their platform and exhibit their functionality to fulfill their guarantees of a simplified and accessible crypto buying and selling expertise.