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Dubai-based cryptocurrency exchange Bybit has developed a language-based trading tool that uses AI to generate trading insights and answer technical questions from its market data.
TradeGPT is envisioned as an AI-powered learning tool that leverages ChatGPT’s large language model and Bybit’s inhouse toolsGPT’s productive capability to provide real-time market analysis and answers to user questions in various languages .
An announcement shared with Cointelegraph highlights TradeGPT’s ability to offer market strategies and products for the strategies being discussed with the user.
Bybit had earlier launched ToolsGPT in June 2023. The platform integrates ChatGPT’s machine learning and AI capabilities with Bybit market data to conduct technical analysis, funding analysis and model predictions.
RELATED: Bybit’s MVP license in Dubai is ‘very restrictive’, says CEO
Bybit is not the only cryptocurrency exchange that has used ChatGPT to provide users with unique insights into token prices, market activity and projects.
Crypto.com launched its own ChatGPT-powered user assistant named Amy in May 2023. Binance integrated OpenAI’s chatbot into its Binance Academy platform to generate responses from its database of articles and information on the wider Web3 ecosystem.
OKEx is another exchange exploring the potential of AI after integrating AI tools from Endotec to analyze market volatility and trading opportunities. Solana Labs also launched a ChatGPT-powered plugin that allows large language models to check wallet balances, transfer Solana-native tokens, and trade non-fungible tokens.
The launch of these AI tools comes after Bybit started providing lending services to its users, offering interest payments for cryptocurrencies deposited on the exchange. Bybit is one of several exchanges that offer the service, as Cointelegraph previously reported.
AI is proving to be a catalyst for innovation in many fields. TinyTap, a subsidiary of Animoca Brands, is an example of a platform that uses AI to generate educational games and non-fungible tokens (NFTs) based on user signals.
Meanwhile NASDAQ-listed Iris Energy announced it has invested $10 million to buy Nvidia’s 248 H100 Tensor Core GPUs to explore generative AI opportunities at its data center sites.
The chip and hardware maker posted unprecedented Q2 results in 2023 following an explosion of interest in AI-powered tools like ChatGPT.
Source: cointelegraph.com
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