Bybit, a cryptocurrency exchange based in Dubai, just introduced a language-based trading tool. This trading tool employs artificial intelligence (AI) to generate trading insights. Also, the tool provides answers to technical inquiries using market data. Bybit positions this tool, TradeGPT, as an AI-driven educational resource leveraging the generative capabilities of ChatGPT and Bybit’s ToolsGPT. It offers market analysis and responds to user queries in numerous languages. A recent announcement shared with Cointelegraph emphasized TradeGPT’s capacity to furnish market strategies and insights on products under discussion with users.
ToolsGPT, released in June 2023, seamlessly integrates the machine learning and AI capabilities of ChatGPT with market data from Bybit. This enables it to perform technical analysis, funding analysis, and model predictions.
Exchanges Leveraging on AI and ChatGPT
Other cryptocurrency exchanges have also explored the application of ChatGPT, providing users with distinctive perspectives on market trends, token prices, and blockchain projects.
For instance, Crypto.com unveiled its user assistant powered by ChatGPT, Amy, in May 2023. Additionally, Binance incorporated OpenAI’s chatbot into the Binance Academy. It made this move to create responses using its collections of articles and info on the Web3 ecosystem.
Solana Labs introduced a plugin powered by ChatGPT. The plugin can monitor wallet balances, make transfers of Solana tokens easy, and conduct NFT trading. OKX, another exchange, is also delving into the potential of AI by integrating EndoTech’s AI tools for analyzing the volatility of the market and identifying trading opportunities.
These tools follow Bybit’s introduction of lending services to its user base, including interest payouts for cryptocurrencies deposited on its exchange.
Artificial Intelligence in Other Industries
Artificial intelligence is emerging as a driving force for innovation in various industries. A case in point is TinyTap, an Animoca Brands subsidiary. TinyTap utilizes AI to create games and user inputs based-NFTs.
Also, Iris Energy recently made a $10 million investment to acquire 248 Nvidia H100 Tensor Core GPUs. This investment is for the exploration of generative AI possibilities within its data center facilities.
The featured image is from coinmarketcap.com
