Trading Bots Take Over Messenger Telegram as Crypto Rallies

This year’s rebound in cryptocurrencies is turning messaging platform Telegram into an unlikely marketplace for small traders fearful of missing out on the rally.

A new generation of trading bots, built mainly by anonymous developers, have become favorites among traders seeking to gain access to the wild west of cryptocurrencies: decentralized finance. Their popularity has escalated recently as altcoins have rallied sharply. Tokens tied to automated software programs have more than doubled in market value in just a week to exceed $241 million, according to CoinGecko data.

More crypto traders want to step up their game as the market ...