Business News Report SMW Technology
June 15, 2023

Bybit Enhances Trading With Integration of ChatGPT

In Brief

Bybit has released ToolsGPT to provide market data analysis.

The tool combines ChatGPT with Bybit’s market data to deliver answers to trader’s inquiries.

Cryptocurrency exchange Bybit today launched ToolsGPT, a platform that combines ChatGPT’s machine learning technology with Bybit’s robust market data to deliver market data analysis for traders.

Bybit Enhances Trading With Integration of ChatGPT

ToolsGPT “can provide technical analysis, backtested price data, and other essential metrics,” the exchange said in a press release on Thursday. 

Traders can use ToolsGPT to analyze BTC price trends for the upcoming weeks based on data from the past week. It also enables traders to utilize technical indicators such as RSI and MACD to forecast BTC price trends for the remainder of 2023. Additionally, ToolsGPT can also provide predictions for BTC and ETH prices in the next 24 hours, based on data from the last 24 hours.

“By integrating ChatGPT into Bybit Tools, we are able to give users more comprehensive information when making their decisions,” said Ben Zhou, CEO of Bybit, in a statement.

The rapid advancement of AI has ushered in a wave of transformations across multiple industries, and the financial sector is no exception, as artificial intelligence is being used to automate tasks, improve decision-making, and create new products and services.

As the AI craze continues, various companies in the crypto industry have been quick to integrate artificial intelligence into their offerings, further driving the intersection of AI and crypto. For instance, Crypto.com recently launched a generative AI user assistant called “Amy.” Powered by OpenAI’s ChatGPT technology, Amy can help users track real-time token prices and projects, discover industry insights and listings, and more.

Meanwhile, Fetch.ai, an AI lab based in Cambridge, announced in April the development of AI agents capable of executing trades on behalf of users. 

In line with the AI trend, Binance also unveiled an AI-driven learning tool integrated within Binance Academy in April. This tool aims to facilitate users’ understanding of web3, offering them an easily accessible and comprehensive resource to explore and grasp the complex concepts of the emerging technology.

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About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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