Bybit Introduces ‘TradeGPT’: An AI-Driven Tool for Market Analysis and Data-Driven Q&A

Dubai-based cryptocurrency exchange Bybit is making waves in the crypto space with the introduction of TradeGPT, a language-based trading tool harnessing the power of artificial intelligence (AI). This innovative tool is designed to generate trading insights and provide real-time answers to technical questions based on market data.

TradeGPT is being hailed as an AI-driven educational resource, leveraging the generative capabilities of ChatGPT’s extensive language model in combination with Bybit’s proprietary ToolsGPT. This dynamic duo collaborates to offer users market analysis and solutions to their queries in multiple languages.

The announcement, emphasized TradeGPT’s capacity to furnish market strategies and product recommendations, catering to users engaged in ongoing discussions.

Bybit had previously launched ToolsGPT in June 2023, further integrating ChatGPT’s machine learning and AI capabilities with Bybit’s rich trove of market data. This combination enables the platform to conduct technical and funding analyses, as well as make model predictions.

Bybit isn’t the only cryptocurrency exchange venturing into the realm of AI-driven user assistance. Crypto.com, for instance, unveiled its own ChatGPT-powered assistant named Amy in May 2023. Likewise, Binance has embraced OpenAI’s chatbot, employing it on the Binance Academy platform to retrieve responses from a comprehensive database of articles and information pertaining to the Web3 ecosystem.

OKX, another prominent exchange, is also exploring AI’s potential. It has incorporated EndoTech’s AI tools for analyzing market volatility and identifying trading opportunities. Solana Labs, on the other hand, introduced a ChatGPT-powered plugin enabling the language model to check wallet balances, execute Solana-native token transfers, and facilitate nonfungible token (NFT) transactions.

These AI-powered tools are being introduced as Bybit broadens its service offerings, including lending services with interest payouts on deposited cryptocurrencies. Bybit is part of a growing cohort of exchanges offering this service to its user base.

AI continues to drive innovation across various sectors. TinyTap, a subsidiary of Animoca Brands, is a prime example, utilizing AI to create educational games and NFTs based on user prompts. In a different arena, Iris Energy, a Nasdaq-listed entity, has made a substantial investment of $10 million in the acquisition of 248 Nvidia H100 Tensor Core GPUs. This move is geared towards exploring generative AI opportunities at its data center facilities.

Nvidia, a prominent chip and hardware manufacturer, reported unprecedented Q2 results in 2023, fueled by heightened interest in AI-powered tools like ChatGPT, signaling the transformative potential of AI across industries.

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