Home Business Trading crypto with ChatGPT: ByBit adds new feature

Trading crypto with ChatGPT: ByBit adds new feature

Trading crypto with ChatGPT: ByBit adds new feature

Cryptocurrency exchange ByBit has announced integration with OpenAI-developed chatbot, ChatGPT. The new feature, called ToolsGPT, allows traders to analyze future price trends based on historical data and technical indicators.

Easily analyze crypto price trends with ChatGPT

ToolsGPT uses the machine learningChatGPT’s technology with the exchange’s market data to provide technical analysis, price data, and metrics. The integration allows ToolsGPT to generate tailored responses to traders’ queries.

This new service will provide insights and predictions for various cryptocurrency trading scenarios. ToolsGPT will be able to analyze price trends based on market data of various cryptocurrencies. According to ByBit, the plugin includes price trends for a large number of tokens. The service is intended for traders of different experience levels and is freely accessible to all users of the exchange.

ByBit’s CEO, Ben Zhou, is enthusiastic about the developments. He emphasizes that the integration with ChatGPT is a big step for crypto investors and traders. It supports the decision-making process based on real-time data and is accessible to everyone:

By integrating ChatGPT into Bybit Tools, we can give users more comprehensive information when making their decisions. ToolsGPT is a testament to our commitment to providing traders with advanced tools and insights.

ChatGPT plugins are in demand

ByBit is not the only exchange that uses artificial intelligence (AI). Others cryptocurrency exchanges have also deployed the possibilities of ChatGPT. Like this launched Crypto.com launched its own ChatGPT-powered user assistant in May 2023, named Amy, and integrated Binance OpenAI’s chatbot into its Binance Academy platform.

Solana Labs also launched a ChatGPT powered plugin that can monitor wallet balances, execute transactions and non-fungible tokens (NFTs) can trade. OKX is another exchange that used the applications of AI in its EndoTech’s AI tool. Similar to the ToolsGPT plugin, EndoTech can analyze market volatility and trading opportunities.

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