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The 3 most profitable crypto trading bots: 2023

Unlike humans, crypto trading bots don’t need to sleep, and they aren’t driven by panic. Let’s take a look at the most profitable bots on Ethereum.

Over the past year, DEX trading bots have become one of the most favoured tools in the crypto trader’s tool box.

A trading bot is a software program that automates the process of buying and selling assets, such as cryptocurrency. They use predefined algorithms to analyse market data, execute trades, and manage portfolios without the need for human intervention.

Unlike humans, who need to eat, sleep and rest, trading bots operate 24/7 and respond to market movements in real-time, executing trades at the most optimal times. Many traders find favour with bots as they remove human emotion from trading decisions, reducing impulsivity and panic.

There are downsides to bots, such as increased risk of scams and lack of human intuition, so it’s best to only use them if you are an experienced trader.

Let’s look at the three most profitable bots on Ethereum and Ethereum roll-ups, using data from CoinGecko Research and Dune Analytics.

#1 Maestro

Maestro, a Telegram trading bot, was the most profitable bot throughout September 2023, and is the most profitable since its inception in July 2022.

Since July 2022, Maestro has earned 13,206 ETH, approximately $23.9 million, exclusively through bot revenue. In September alone, it earned 1,646 ETH, approximately $2.9 million.

Unlike many of its competitors, such as Unibot and Banana Gun, Maestro does not have a token. Instead, all of its revenue goes directly back into the project.

Not having a token does however come with some drawbacks, as CoinGecko Research pointed out. In September, Maestro lost some of its market share, moving from 45.3% down to 30.1%.

“This can be attributed to its team maintaining its stance of not launching a token, thus losing revenue on the trading volume of its token,” the report outlined.

#2 Unibot

Unibot is fairly new to the DeFi scene, having launched in early June 2023. It has already claimed a spot in the top three, bringing in 9,000 ETH ($16.3 million) since launch.

Throughout September 2023, Unibot earned 1,557 ETH ($2.8 million), hot on the heels of Maestro.

Unibot was one of the first to introduce its own token (UNIBOT), which gives token holders a share of revenue in addition to other benefits.

CoinGecko reported that nearly 80% (7,200 ETH), of Unibot’s total earnings have come from tax revenue (i.e. the fee charged to traders who exchange native tokens on decentralised exchanges), gained through the trading volume of UNIBOT.

At the time of writing, UNIBOT is trading at $57.29, representing an 18% gain over the past 14-days. It holds a market cap of $57 million.

#3 Banana Gun

Banana Gun is one of the newest contenders on the Telegram bot scene, having launched in late June, 2023. Despite only launching its token, BANANA, on September 14, the bot still managed to bring in some of the highest profits of that month, earning 1,400 ETH ($2.5 million) by the month’s end.

CoinGecko pointed out that most of its income (nearly 70%), came from tax revenue through the trading of BANANA.

The report affirmed that Banana Gun’s tax revenue is likely to be higher this month, “as reflected in the surge in BANANA’s trading volume post-launch in September”.

When looking at Banana Gun’s total earnings since launch though, the revenue stream is more balanced, with 1,000 ETH originating from bot revenue and 1,000 ETH from tax revenue.

Banana Gun’s token, BANANA, is currently trading at $9.31 and has gained 50% over the past 7-days.

BANANA: CoinGecko

Maestro, Unibot and Banana Gun represent more than 80% of the top 10 bot profits.

Other profitable bots include Aimbot, which has earned 1,337 ETH since its inception, followed by Paal AI, which has earned 966 ETH.

Disclaimer: CryptoPlug does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

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