TradeGPT: Bybit Launches Its New AI Chatbot For Crypto Trading

TradeGPT: Bybit Launches Its New AI Chatbot For Crypto Trading

TradeGPT is an AI-powered crypto trading assistant developed by Bit that analyzes market data and provides free answers to questions. Learn more here.

TradeGPT’s AI-Powered Crypto Trading Tips!

Bybit, a renowned cryptocurrency exchange, has recently announced the launch of a new Artificial Intelligence (AI)-driven tool, “TradeGPT“. This tool is a component of Bybit’s artificial intelligence suite, referred to as “ToolsGPT”.

According to Bybit, the data for OpenAI’s ChatGPT was only available until September 2021 and now its users can use TradeGPT to get real time market insights and questions answered in multiple languages.

This service is complimentary for registered Bybit users, however, there is a daily maximum of twenty questions per registered user. The platform begins with a welcome message, inviting users to ask questions related to cryptocurrency markets or to explore predefined topics.

As an illustration, a typical query found on the homepage of TradeGPT is:

“Give me in three consecutive sentences an analysis on whether the BTC price will increase or decrease today, whether it is appropriate to open a long or short position and at what price to enter.”

Bybit’s Chief Financial Products Officer, Vivien Fang, has emphasized the significance of ToolsGPT and TradeGPT in the context of the ever-evolving financial landscape, citing them as essential sources of financial education and assistance required in the current highly financialised environment.

Binance And Other Companies Are Also Utilizing Artificial Intelligence (AI) In A Variety Of Ways

It is worth noting that Bybit isn’t the only exchange that’s jumped on the AI bandwagon. For instance, Binance (the world’s largest cryptocurrency exchange by market capitalization) has incorporated AI into its platform, the Binance Academy, which it refers to as Binance Sensei.

In the meantime launched a general chatbot named Amy, which is dedicated to cryptocurrencies and blockchain.

Chatbtc, on the other hand, provides a wealth of Bitcoin (BTC) knowledge, allowing users to engage with experts like Matt Corallo, Greg Maxwell, and others based on published papers and articles.

Here we have OKX again, another AI-focused exchange that has recently integrated EndoTech’s AI tools for volatility analysis and trading opportunities.

In line with this trend, Solana Labs has also released a ChatGPT-based plugin. This plugin enables advanced language model wallet management, native Solana token transfer and NFT (non-fungible token) exchange.

Animoca Brands subsidiary TinyTap is another example. TinyTap uses AI to create bespoke educational games and Non-Fungible Tokens (NFTs) based on user prompts.

On the other hand, Nasdaq-quoted Iris Energy said it will invest $10 million to acquire 248 H100 tensor core GPUs from Nvidia in an effort to explore generative artificial intelligence capabilities in its data centers.

Last but not least, we’d like to point out that in Q2 2023, chip and hardware companies saw phenomenal growth, in part due to increased demand for AI-powered tools like ChatGPT.

Bybit ToolsGPT: What Is It And What Does It Do?

Founded in June of 2023, ToolsGPT by Bybit uses ChatGPT’s machine learning technology combined with market data exchange.

With this integration, ToolsGPT can provide traders with technical insights, price data and analytics, as well as answer all their questions in real-time.

The exchange has been enthusiastic about this new service as a means of delivering performance and insights across a wide range of crypto trading environments. ToolsGPT is capable of analyzing price trends for different cryptocurrencies, showing price trends and using technical indicators to predict future market trends. This service is open to all participants in the exchange, whether they are new or experienced.

ChatGPT integration, according to Bybit CEO Ben Zhou, is a “ground-breaking innovation” that will give traders access to a richer information ecosystem to make decisions based not only on real-time data and historical data, but also on AI-powered recommendations. As a matter of fact, he said it best:

“The integration of ChatGPT into Bybit Tools demonstrates our commitment to providing traders with advanced tools and insights.”

Thank you for taking the time to read until the end about the Bybit’s TradeGPT Launch. It was our pleasure to share this with you. We would appreciate any comments you may have on this. If you want us to write an article for you please feel free to reach out at — [email protected] or leave your request in the comment below.

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