- September 5, 2023
- Posted by: [email protected]
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Cryptocurrency exchange Bybit has introduced an innovative AI-powered crypto trading assistant named ‘TradeGPT,’ designed to provide valuable market insights and data-driven answers to users. Based in Dubai, Bybit has harnessed artificial intelligence (AI) to create a language-based trading tool that leverages ChatGPT’s expansive language model and Bybit’s in-house ToolsGPT to offer real-time market analysis and address technical inquiries in multiple languages.
TradeGPT is positioned as an AI-powered educational tool capable of tapping into ChatGPT’s generative abilities to deliver market strategies and product insights relevant to ongoing discussions with users. Bybit previously launched ToolsGPT in June 2023, an integrated platform that combines ChatGPT’s machine learning and AI capabilities with Bybit’s comprehensive market data, enabling technical analysis, funding assessments, and model predictions.
Bybit is not the first cryptocurrency exchange to explore the potential of ChatGPT in providing users with unique perspectives on token prices, market trends, and crypto projects. Amy, Crypto.com’s ChatGPT-powered user assistant, debuted in May 2023. Meanwhile, Binance integrated OpenAI’s chatbot into its Binance Academy platform to generate responses from its extensive database of articles and information related to the broader Web3 ecosystem.
OKX is also exploring the potential of artificial intelligence by combining EndoTech’s AI technologies for analyzing market volatility and identifying trading opportunities. Solana Labs launched a ChatGPT-powered plugin that allows the language model to check wallet balances, transfer Solana-native tokens, and trade nonfungible tokens (NFTs).
These AI tools are being launched following Bybit’s introduction of lending services, including interest payouts for users who deposit cryptocurrencies on the platform. Bybit is among several exchanges providing this service to its users, as previously reported.
AI is emerging as a catalyst for innovation across various sectors. Animoca Brands subsidiary TinyTap exemplifies this trend, employing AI to create educational games and NFTs based on user input. In a related development, Nasdaq-listed Iris Energy recently announced a $10 million investment to acquire 248 of Nvidia’s H100 Tensor Core GPUs, aiming to explore generative AI opportunities at its data center facilities. This investment aligns with the unprecedented Q2 results posted by chip and hardware manufacturer Nvidia in 2023, driven by surging interest in AI-powered tools like ChatGPT.
