Bybit Joins Binance and Crypto.com in Launching AI-Powered Trading Assistant

<p>The cryptocurrency exchange Bybit has launched TradeGPT,
an AI-powered education tool that aims to enhance how traders engage with the
crypto market. The company has praised the offering as a response to the
limitations of conventional AI, saying it provides real-time market data.</p><p>According to Bybit's
statement, TradeGPT has access to Bybit's extensive market data, trading
<a href="https://www.financemagnates.com/terms/a/analytics/">analytics</a>, and technical analysis tools. This makes it ideal for traders
seeking to navigate the cryptocurrency landscape.</p><p>Vivien Fang, the Head of
Financial Products at Bybit, stated: "Our analysts and tech team created ToolsGPT
to provide the financial education and mentorship that is sorely needed in our
hyper-financial world. Essentially, we built the tool that we all wished we had
when we began our careers in financial engineering and trading."</p><p>Bybit Links Crypto and AI</p><p>TradeGPT offers Bybit's users a range of benefits, including real-time market analysis, multilingual
support, and personalized guidance. It acts as a mentor and guide, helping
users understand market trends, formulate strategies, and choose the right
products for investment goals, the company explained.</p><p>Rival Crypto.com
unveiled its <a href="https://www.financemagnates.com/terms/a/artificial-intelligence-ai/" target="_blank" rel="follow">AI</a>-enabled platform that offers users real-time
information about specific tokens, projects, price listings, and historical
events in May. Dubbed Amy, the platform's underlying technology is based on
OpenAI's ChatGPT. According to the company, this technology aims to deliver
search results for Crypto.com's users.</p><p>Kris Marszalek, the
Chief Executive Officer of Cypto.com, stated during the unveiling of the
technology that: "Amy is the latest example of our incredible momentum,
following a series of notable product launches, including <a href="https://www.financemagnates.com/terms/c/cftc/">CFTC</a>-regulated
options trading, on-chain staking solutions, and the GEN 3.0 Crypto.com
Exchange."</p><p>Convergence
of AI and Crypto </p><p>Similarly, the world's
leading crypto exchange by trading volume, Binance, introduced Binance Sensei.
Launched on April 24, 2023, the AI-powered learning tool is integrated into
Binance Academy. According to the exchange, Binance Sensei is designed to cater
to users of all levels through an interactive chat window.</p><p>As more cryptocurrency
companies continue to launch their AI-enabled platforms, the technology is complementing
the industry. According to a recent report by <a href="https://www.financemagnates.com/trending/has-the-ai-boom-outpaced-the-crypto-frenzy/" target="_blank" rel="follow">Finance
Magnates</a>, AI and
cryptocurrencies could <a href="https://www.financemagnates.com/trending/has-the-ai-boom-outpaced-the-crypto-frenzy/" target="_blank" rel="follow">have
a symbiotic relationship</a>.
For instance, AI's data processing capabilities could help cryptocurrencies
address scalability and accelerate transaction processing.</p><p>Conversely,
cryptocurrencies could incentivize AI research and development. Tokenized
economies could reward contributors to AI projects, fostering collaboration and
innovation, the media publication indicated. Additionally, cryptocurrency-enabled
decentralized networks might provide secure, transparent platforms for
exchanging AI-generated insights without intermediaries.</p>

This article was written by Jared Kirui at www.financemagnates.com.