Bitbot, an AI-powered Telegram trading bot, has surged past the $3M mark in its presale after outlining its updated product offering. Bitbot now includes a layer of AI development on its blockchain analysis tool, Gem Scanner. The project has rapidly progressed to stage 12 of its short 15-stage presale due to end this quarter, at which point the BITBOT token will be launched on the open market.

The Bitbot community has grown to over 140k members, with 110k+ followers on Twitter and a Telegram channel approaching 30k. Bitbot's team hopes to convert a significant portion of this user base into paying customers when the product launches later this year.

The presale's success has been supported by Bitbot's recent rebrand, which includes a new website with updated visuals and, most crucially, a spotlight on Bitbot's AI features. Bitbot's team is optimistic that investing in AI to boost its trading engine is one of the factors likely driving the heightened interest in the presale.

Bitbot is establishing itself as a game-changing project by offering the world's first non-custodial Telegram trading platform, ensuring users' funds only transfer once trades are complete. This is combined with an arsenal of AI trading tools that give retail investors the firepower they need when competing against institutional traders.

Gem Scanner: Merging AI with On-Chain Analysis Powered by Bitbot's proprietary AI, the Gem Scanner aims to uncover undervalued, low-cap tokens with the potential to achieve multi-digit rallies. The Gem Scanner scours top data aggregators such as DEX Screener and Birdeye while combining social media feeds to make predictions based on both market data and audience sentiment.

This productivity-boosting technology eliminates the reliance on conducting hours of meticulous market analysis. It will typically appeal to retail traders and therefore help drive product adoption. With this offering, the team hopes to see Bitbot take market share away from key competitors Banana Gun and Maestro over the coming year.

AI and Blockchain on the Rise Tech giants Google and Microsoft both enjoyed AI-driven stock price surges recently, with Reuters reporting spikes of 10% and 2%, respectively. With demand for AI features outstripping the capacity to supply the market, the industry appears poised for sustained growth. This is supported by sector predictions, which lay out an expected compounded annual growth rate (CAGR) of 28.4% per year until 2030.

Blockchain offers a similar story, with a CAGR of 24% projected. AI crypto tokens are currently valued at just under $20 billion, with a daily trading volume of around $900 million, according to CoinGecko.

Bitbot has repositioned itself to meet this growing demand for AI in the crypto market by offering a range of advanced technologies. Speaking on the decision to refocus efforts towards AI capabilities, Bitbot's Technical Product Officer, Andrew Jacobs, said:

"Our mission has always been to give our users the tools that have enabled institutions to dominate financial markets, and the benefits our AI offers are the best equalizer we've seen on the market so far. Plus, AI positioning is currently generating great returns for many projects in the space, and we predict BITBOT holders will feel the benefit of this."

Bitbot's Exciting Market Outlook With its enhanced focus on AI, Bitbot is positioned to engage with the increasing interest in AI projects. The market has observed notable activity, such as the performance of BitTensor (TAO), an AI coin which experienced significant price changes, rising from $34 last year to $757 in March.

Within the Telegram bot sector, there is plenty of precedent for strong performance as well. Competitors like Banana Gun have experienced 200% rallies in just six months, and in early April, they saw 80x gains from early presale prices. With its enhanced security and AI iterations on these first-generation products, the Bitbot team is optimistic about surpassing these results.