Dubai-based cryptocurrency exchange Bybit has developed a language-based trading tool that uses artificial intelligence (AI) to generate trading insights and answer technical questions based on its market data.
Promoted as an AI-driven educational tool, TradeGPT leverages ChatGPT’s large language model and the generative capabilities of Bybit’s in-house ToolsGPT to provide real-time market analysis and answers to user questions in multiple languages.
An announcement shared with Cointelegraph highlighted TradeGPT’s ability to offer market strategies and products related to strategies discussed with users.
related: Bybit’s MVP license in Dubai is ‘very limited’, CEO says
Bybit is not the only cryptocurrency exchange exploring the use of ChatGPT to provide users with unique insights into token prices, market movements and projects.
Crypto.com launched its own ChatGPT-powered user assistant called Amy in May 2023. Binance has also integrated OpenAI’s chatbot into its Binance Academy platform to generate responses from its database of articles and information from the wider Web3 ecosystem.
OKX is another exchange exploring the potential of artificial intelligence after integrating EndoTech’s artificial intelligence tools to analyze market fluctuations and trading opportunities. Solana Labs has also introduced plugins powered by ChatGPT that allow large language models to check wallet balances, transfer Solana native tokens, and trade non-fungible tokens (NFTs).
The launch of these AI tools comes against the backdrop of Bybit offering lending services to users, with interest paid on cryptocurrencies deposited on the exchange. As previously reported by Cointelegraph, Bybit is one of many exchanges offering the service.
AI has proven to be a catalyst for innovation in many industries. Animoca Brands subsidiary TinyTap is an example of a platform that uses artificial intelligence to generate educational games and NFTs based on user prompts.
Meanwhile, Nasdaq-listed Iris Energy announced it has invested $10 million in 248 Nvidia H100 Tensor Core GPUs to explore generative AI opportunities at its data center sites
Chip and hardware manufacturers The company reported unprecedented results in the second quarter of 2023 due to a surge in interest in artificial intelligence tools such as ChatGPT.
Bookmark this article as an NFT Preserve this moment in history and show your support for independent journalism in the cryptocurrency space.
Svlook
