Dubai’s cryptocurrency trading platform, Bybit, has introduced an AI-empowered tool called Tradegpt. This chatbot is engineered to analyze Bybit’s real-time market data and provide comprehensive price assessments using Bitcoin’s existing metrics as a reference. The chatbot is also programmed to suggest effective trading strategies for the day and impart additional insights into the ever-changing cryptocurrency market.
As advancements in artificial intelligence and machine learning continue to grow, many organizations and individuals are increasingly incorporating them with their expertise in blockchain and cryptocurrency. On September 4, 2023, Bybit revealed the addition of this innovative AI tool, Tradegpt, which is a part of their broader AI initiative named Toolsgpt.
Bybit pointed out that while OpenAI’s ChatGPT has data only up to September 2021, Tradegpt will provide Bybit users with instantaneous market assessments and responses to their questions in a variety of languages. The service is complimentary for users who are registered with Bybit, though it does impose a daily cap of 20 inquiries per user.
The Tradegpt platform invites users with a message: “Welcome to Tradegpt. Feel free to ask any questions about today’s crypto market or select any of the topics listed below to get going.”
One of the popular query samples featured on the Tradegpt homepage is: “In three sequential sentences: will BTC’s value go up or down today, is it advisable to go long or short, and what is the recommended entry price?”
Vivien Fang, the person in charge of financial products at Bybit, stated that both Toolsgpt and Tradegpt serve as invaluable resources in the dynamically evolving financial environment. “Our research and technical teams have developed Toolsgpt to offer essential financial education and guidance that is greatly lacking in our highly financialized society,” said Fang.
The deployment of Bybit’s AI capabilities comes at a time when an increasing number of exchanges are adopting this technology. For instance, Binance, the leading cryptocurrency exchange in terms of volume, has augmented its Binance Academy with AI features and named it “Binance Sensei.” Similarly, Crypto.com has developed an AI-generated chatbot named Amy, specializes in blockchain and cryptocurrency knowledge.
Another platform, Chatbtc, is dedicated to spreading Bitcoin knowledge and allows users to engage with developer personas like Matt Corallo and Greg Maxwell, who are equipped with insights based on their public works.