Is the Telegram Mini App Poised to Transform Cryptocurrency Trading?

Over the recent period, the Telegram platform has witnessed the emergence of a number of small-scale cryptocurrency ventures, particularly after the successful deployment of Notcoin (NOT). NOT made its entry in the latter part of 2023 and its official launch took place on May 15, 2024. This currency quickly drew the attention of over 35 million participants, and its native token saw its value leap by 300% from its lowest recorded price.

“Blum,” a freshly unveiled micro-application on Telegram, is making waves with its trailblazing methodology towards digital currency exchanges. It sets itself apart by providing practical applications and utility that transcend the scope of typical meme-focused cryptocurrencies.

Exploring Blum: Its Mechanics and Operations

Portraying itself as a “hybrid exchange,” Blup also delves into the concept of a Telegram micro-application. Its objective is to revolutionize the way users trade cryptocurrencies, with a strong focus on burgeoning markets.

Blum is forging a distinct path by amalgamating token accessibility from both centralized and decentralized exchanges (CEXs and DEXs), all within a unified interface. Such a platform may furnish traders with a sweeping selection of trade choices, suited for a variety of investment preferences.

For the uninitiated, centralized exchanges (CEXs) serve as polished platforms for the buying and selling of digital currencies, either through fiat or other crypto assets. Decentralized exchanges (DEXs), in contrast, provide enhanced security and direct user control over assets, with the trade-off of requiring more expertise. DEXs represent peer-to-peer networks where the exchange of assets does not require an intermediary.

Capitalizing on its Telegram integration, with its reach to nearly a billion users globally—particularly in cryptocurrency-adopting territories—Blum eyes tapping into this vast network by deploying as a streamlined in-app feature could propel Blum to gain extensive reach.

Currently, users of Blum can collect Blum Points, redeemable for tangible crypto tokens in later stages, positioning Blum to evolve into an all-encompassing hybrid exchange platform.

The masterminds behind the Telegram in-app project are voicing their dedication to rendering effortless access to a diverse coin roster, coupled with a promise to introduce derivative trading on the horizon.

Blum Climbs to Become 4th Largest Global Telegram Channel

With a swift ascent to over 10 million patrons within a couple of months post-launch, Blum is hitting significant milestones, foreshadowing its potential triumph in anticipation of its formal debut and token issuance.

A revelation on June 6 from the X team via tweet claims the Blum Telegram channel as the world’s fourth-largest, uniting over 9.6 million subscribers and surpassing channels like Hamster Combat, Tapswap, and Telegram Tips.

Hamster Combat, a nascent Telegram tap-to-earn project which has yet to premiere, has secured the premier place as the largest Telegram channel amassing an impressive tally of more than 31 million supporters. Notcoin, once at the helm, now takes the fifth slot, with its users numbering at 7.9 million.

Ranking of Telegram Channels (Source: TGStat)

Binance Labs highlighted Blum as one among 13 nascent ventures on March 1, chosen from a staggering applicant pool of 700 for the seventh season of the Most Valuable Builder (MVB) Accelerator Program.

While inclusion in the MVB Accelerator Program does not solidify prospects of investment, being picked by a significant entity like Binance indicates the burgeoning allure of the Blum cryptocurrency project.

In prospect, observing Blum’s foray into digital currency exchange via its Telegram mini-application might be worthwhile. The ensuing months shall be pivotal for Blum as they deploy their platform and endeavour to deliver on their promise of a streamlined crypto trading experience.