Bybit uses ChatGPT for AI trading tools.
The cryptocurrency exchange Bybit plans to use artificial intelligence (AI) to offer new trading tools and metrics to its users through a collaboration with ChatGPT. ChatGPT, which is OpenAI’s chatbot that uses a highly acclaimed large language model, has been used by various industries to provide innovative solutions and services. Bybit is introducing its AI-powered offering to cryptocurrency traders using the Dubai-based exchange named ToolsGPT, which combines ChatGPT’s machine learning technology with Bybit’s market data to provide technical analysis, price data, and metrics. ToolsGPT will analyze price trends based on market data for several cryptocurrencies, provide insights and predictions to various cryptocurrency trading scenarios, and generate bespoke answers to traders’ inquiries. According to Bybit, the service will cater to traders of varying experience levels and is freely accessible to all exchange users.
Bybit CEO Ben Zhou stated that the integration of ChatGPT into Bybit Tools is an innovative move aimed at helping traders make informed decisions based on historical and real-time market data and AI-generated advice. Other cryptocurrency exchanges, such as Crypto.com, Binance, OKX, and Solana Labs, have also explored using ChatGPT to offer users unique insights into token prices, market movements, and trading opportunities.