Bybit Introduces TradeGPT: AI-Powered Crypto Trading Insights
Bybit, a prominent cryptocurrency exchange, has recently unveiled an innovative artificial intelligence (AI) tool called “TradeGPT.” This cutting-edge tool is a part of Bybit’s comprehensive AI suite known as “ToolsGPT.”
TradeGPT is a service that provides real-time market assessments and answers to queries in multiple languages, utilizing the capabilities of OpenAI’s ChatGPT. Despite the limited data available for ChatGPT until September 2021, Bybit users can now tap into this AI-based resource to enhance their cryptocurrency trading experience.
This service is freely available to registered Bybit users, with a daily limit of twenty questions per user. Upon accessing the platform, users are greeted with a warm welcome and an invitation to ask questions about cryptocurrency markets or explore predefined topics.
For instance, a common question on TradeGPT’s homepage might be:
“What are the current trends in the Bitcoin market?”
Vivien Fang, Head of Financial Products at Bybit, emphasized the significance of ToolsGPT and TradeGPT in today’s dynamic financial landscape, referring to them as invaluable resources for financial education and support amid the increasingly financialized world.
AI Adoption Beyond Bybit: Binance, Crypto.com, and More
It’s worth noting that Bybit is not the only cryptocurrency exchange embracing AI solutions. Leading exchange Binance has integrated artificial intelligence into its Binance Academy suite, known as “Binance Sensei.” Meanwhile, Crypto.com has introduced “Amy,” a generative chatbot focused on cryptocurrencies and blockchain.
Chatbtc is another platform offering extensive knowledge on Bitcoin, enabling users to interact with notable figures like Matt Corallo and Greg Maxwell, based on information derived from previous publications and writings.
OKX is also exploring AI’s potential by integrating AI tools from EndoTech to analyze market volatility and identify trading opportunities. Solana Labs has followed suit by launching a plugin based on ChatGPT, allowing the AI model to manage wallet balances, perform Solana token transfers, and facilitate NFT exchanges.
Additionally, TinyTap, a subsidiary of Animoca Brands, utilizes AI to create customized educational games and NFTs based on user instructions. Iris Energy, a Nasdaq-listed company, has invested $10 million in Nvidia’s H100 Tensor Core GPUs to explore generative AI opportunities in its data centers.
The chip and hardware industry has reported exceptional results in the second quarter of 2023, partly due to the growing interest in AI-based tools like ChatGPT.
ToolsGPT: Bybit’s Comprehensive AI Solution
Launched in June 2023, Bybit’s ToolsGPT leverages ChatGPT’s machine learning technology along with exchange market data. This integration enables ToolsGPT to offer traders technical analysis, price data, metrics, and personalized responses to their inquiries.
ToolsGPT aims to empower users with insights and performance-related information across various cryptocurrency trading scenarios. It can analyze price trends for different cryptocurrencies, incorporating technical indicators to anticipate future market movements.
This service is designed to be user-friendly, catering to traders of all experience levels on the Bybit platform. Bybit CEO Ben Zhou has lauded the integration of ChatGPT as an innovative step, providing traders with a comprehensive information base to make informed decisions based on real-time and historical data, as well as AI-generated suggestions.
