Cryptocurrency Exchange Bybit Unveils Free AI-Powered Trading Assistant for Market Insights
Dubai-based cryptocurrency exchange Bybit has introduced a cutting-edge trading tool known as TradeGPT, harnessing the power of artificial intelligence (AI) to deliver real-time market analysis and address technical queries based on the platform’s extensive market data.
TradeGPT is being hailed as an innovative AI-driven educational resource that leverages ChatGPT’s advanced language generation capabilities and Bybit’s in-house ToolsGPT to provide users with insights and answers in multiple languages. This tool offers market strategies and product recommendations aligned with ongoing discussions between users.
Bybit had earlier launched ToolsGPT in June 2023, integrating ChatGPT’s machine learning and AI functionalities with Bybit’s market data to facilitate technical analysis, funding assessments, and predictive modeling.
Notably, Bybit is not alone in exploring the potential of ChatGPT to offer unique insights into token prices, market trends, and blockchain projects. Crypto.com unveiled its ChatGPT-powered user assistant, named Amy, in May 2023. Meanwhile, Binance incorporated OpenAI’s chatbot into its Binance Academy platform to provide responses drawn from its extensive database of articles and Web3 ecosystem information.
OKX is another exchange embracing AI’s capabilities, integrating EndoTech’s AI tools for market volatility analysis and trading opportunities assessment. Solana Labs also launched a ChatGPT-powered plugin that enables users to check wallet balances, conduct Solana-native token transfers, and engage in nonfungible token (NFT) trading.
These AI tools complement Bybit’s lending services, which offer interest payouts for users depositing cryptocurrencies on the platform. Bybit is one among several exchanges providing this service, as previously reported by Cointelegraph.
Across various industries, AI is proving to be a driving force for innovation. TinyTap, a subsidiary of Animoca Brands, exemplifies this trend by using AI to create educational games and NFTs based on user prompts. In a different sector, Nasdaq-listed Iris Energy recently invested $10 million in acquiring 248 Nvidia H100 Tensor Core GPUs to explore generative AI possibilities at its data center sites.
Nvidia, a chip and hardware manufacturer, achieved remarkable Q2 results in 2023 due to the surging interest in AI-powered tools like ChatGPT.
