- Ape Terminal, one of the leading IDO platforms in the market, has canceled the IDO for the crypto betting platform ZKasino.
- This decision comes as the wider crypto community shows greater resilience in the run-up to Bitcoin’s halving.
- At the same time, a few projects are drawing significant attention, including the new crypto trading solution Bitbot.
While Bitbot is expected to register a successful presale, investors are likely attracted by the project’s promises in the wake of the events surrounding ZKasino, a decentralized betting network.
Although the ZKasino team insists the project will still launch as planned, it now faces an uphill battle to regain community trust after allegations of fraud and delays to token listings.
Bitbot brings non-custodial trading and anti-rug pull protections to crypto
Bitbot is one of a handful of emerging crypto projects aiming to capture meaningful market share. The platform targets the growing niche of Telegram-based trading bots, a space analysts expect to expand as the cryptocurrency market moves toward a full bull cycle.
What sets Bitbot apart is its pioneering non-custodial trading capability. While projects like PAAL AI, Banana Gun, PaLM AI and Unibot have seen notable success since launch, none of them currently offer the level of security that Bitbot proposes with its Telegram-based, non-custodial bot.
When the bot launches in the coming months, users will retain full control of their assets during trades and benefit from additional security layers, including anti-rug pull and anti-MEV tools.
Bitbot’s appeal is therefore not limited to its non-custodial architecture or AI-driven trading features; it also includes user protections provided by its anti-rug pull function. The project’s transparent team further bolsters confidence, likely contributing to a presale that has already surpassed $2.7 million.
Ape Terminal cancels ZKasino (ZKAS) IDO
Following concerns about a possible rug pull, IDO platform Ape Terminal announced it had canceled the initial DEX offering for ZKasino.
Ape Terminal’s statement came after ZigZag, a decentralized P2P order-book exchange, raised alarms about ZKasino and a potential illicit withdrawal of $32 million.
Reportedly, ZKasino participants were unable to withdraw funds after the project team transferred all 10,515 ETH from the escrow contract to Lido.
Amid those allegations, several exchanges moved to suspend planned listings of the ZKasino token, ZKAS. Crypto exchange MEXC announced that it would cancel the ZKAS listing on Saturday.
A lot of FUD going around.
The ZKasino network will still go live, it has been delayed due to exchange listings.
— ZKasino (@ZKasino_io) April 20, 2024
On April 21, Ape Terminal said participants who had opted into the platform’s DEX offering would receive refunds. Claims for stablecoin reimbursements are now open, the platform posted on X.
Bitbot presale could present a key opportunity
The native Bitbot token, BITBOT, will power the new trading bot and provide an additional investment avenue for users. Token holders may also be eligible to earn a share of platform revenue, along with other benefits outlined in the project’s whitepaper.
At present, the BITBOT token price stands at just $0.0163 during presale stage 11. According to the whitepaper, the presale price is scheduled to reach $0.020 by stage 15, the final presale phase.
With its launch, Bitbot aims to become the market’s only non-custodial Telegram-based trading bot. The project has already built a strong community as the presale nears completion, and the coming weeks may offer an initial entry point for prospective investors.
For more information about Bitbot, visit the official site.