Yet another crypto-related firm integrates AI into its services.
Bybit, a leading cryptocurrency exchange headquartered in Dubai, has taken a significant leap forward in incorporating artificial intelligence (AI) into trading.
With its newly launched TradeGPT, an AI-powered trading assistant, the crypto exchange aims to offer customized, real-time market analysis and technical advice.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
Is Your Crypto Safe? (5 Best Crypto Security Practices Explained)
The cutting-edge feature arrives on the heels of Bybit's previous integration of ToolsGPT in June 2023. The new TradeGPT tool builds on that foundation by synthesizing ChatGPT's machine learning and language capabilities with Bybit's proprietary market data.
It is worth noting that this fusion enables the platform to provide a wide range of data-driven analyses, including technical and funding assessments, as well as predictive modeling.
According to the announcement shared on September 4th, the TradeGPT tool is designed to suggest actionable trading strategies. Users can engage in a dialogue with the AI, which provides real-time market analysis and customized investment strategies based on ongoing interactions.
Apart from Bybit, other players in the crypto space are also taking strides to integrate artificial intelligence into their platforms. For instance, Crypto.com launched its AI-backed assistant, Amy, in May 2023. Additionally, Binance, another major crypto exchange, utilized OpenAI's chatbot within its Binance Academy, curating a wealth of information about the broader Web3 ecosystem.
More specialized AI applications in crypto are appearing as well. OKX has sought the analytical power of EndoTech’s AI tools to scrutinize market volatility and unearth trading opportunities.
Notably, Solana Labs went a step further by allowing ChatGPT-powered plugins to execute tasks such as checking wallet balances and facilitating NFT trades in its network.
The advent of TradeGPT by Bybit marks an important milestone in the integration of AI technologies in the crypto trading space.
