Demand for prediction markets fueled the launch of the Pancake Swap Telegram bot.

PancakeSwap has introduced its first prediction bot in response to increasing demand for speculative market products.

The new Pancake Swap prediction Telegram bot launched in beta on September 11th. It provides a convenient way for mobile users to predict the future price of the BNB (BNB) token.

The new prediction bot was launched due to growing interest in valuation markets, the Pancake Swap team told Cointelegraph.

“Following the growing interest in speculative markets and the popularity of Telegram bots among crypto enthusiasts, we decided to release our Forecast Telegram Bot, providing a convenient and mobile-friendly way to engage with the market.

In the year As the 2024 US presidential election, scheduled to be held on November 5, approaches, interest in prediction markets has increased again. The outcome of the election could have significant regulatory implications for the cryptocurrency sector.

Related: More than 86% of Web3 experts are confident in the future of crypto-consensus.

Prediction markets are on the rise ahead of the US election.

Looking at the growing value locked up in the world's largest prediction market, Polymarket, the demand for betting markets is clear.

Polymarket's Total Value Locked (TVL) hit a new all-time high of $123.4 million on September 11, according to Defillama data.

In the year Since the beginning of 2024, Polymarket's TVL has increased over 1,155% from $9.6 million on January 1 to $121 million.

The PancakeSwap Telegram bot is only launching with BNB-related predictions, but the team is looking to add support for more chains based on user feedback and market conditions, the PancakeSwap team told Cointelegraph.

The launch comes just before Pancake Swap's fourth birthday. To celebrate, users who participate in Telegram bots predictions on September 22nd can be eligible for prizes worth $4,444.

Related: Bitcoin Price Eyes ‘Final Dip' Before October Break: Analysts

Telegram mini apps are crashing cryptos with the main.

Telegram-based mini-apps are becoming a positive for the crypto industry as they have the potential to onboard new end users to the Web3 space.

Because onboarding the next 500 million users will require simple apps like Telegram's mini-apps, it could be a “Trojan horse” for mass adoption, said Justin Yun, director of investments at The Open Network Foundation. .

Hyun told Cointelegraph:

But to bring 500 million people on the chain by 2028 – that's our goal – the user on the front end will be looking for blockchain related issues.

Telegram and Telegram-based games like Hamster Kombat can boost mass blockchain adoption, said Yat Siu, co-founder and chairman of Animoka Brands.

Siu told Cointelegraph in an interview:

“On platforms like Telegram and Ton [The Open Network]you have the ability to increase that [Web3 adoption] Because these do not have limitations. Those open-ended games are a showcase of the first generations of games that ushered us into Web3 en masse.

The Truth About Hamster Kombat: Revolution or Scam? Source: YouTube

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