Bybit launches AI-powered trading tool TradeGPT

abdelaziz Fathi

Singapore-based cryptocurrency exchange Bybit has introduced “TradeGPT,” a new AI-powered trading tool that leverages the ChatGPT language model along with real-time data from the Bybit platform. This innovative assistant is designed to simplify access to updated market analyses and provide clear answers to user questions in multiple languages.

Unlike ChatGPT, which doesn’t have access to real-time data and was last updated in September 2021, TradeGPT utilizes Bybit’s market data, trading analytics, and technical analysis tools. This allows Bybit users to access real-time market analysis, receive answers to their questions in multiple languages, and receive guidance on Web3 opportunities. TradeGPT can also offer market strategies and recommend suitable products based on the strategies being discussed.

Bybit unveiled ToolsGPT in June, revealing that it combines ChatGPT’s language capabilities with Bybit’s market data to offer technical analysis, price metrics, and personalized responses to user inquiries. The tool is free to use for all users and can analyze the price trends of various cryptocurrencies, including Bitcoin and Ether, while considering technical and historical indicators.

Vivien Fang, head of financial products at Bybit, said that ToolsGPT was developed to offer essential financial education and guidance, particularly to newcomers entering the cryptocurrency ecosystem without prior financial knowledge.

“Our analysts and tech team created ToolsGPT to provide the financial education and mentorship that is sorely needed in our hyper-financialized world. Essentially, we built the tool that we all wished we had when we began our careers in financial engineering and trading. We’re proud to offer this for free as part of our mission to become the world’s Crypto Ark,” Fang added.

“By integrating ChatGPT into Bybit Tools, we are able to provide users with more comprehensive information when making their decisions. ToolsGPT is a testament to our commitment to empowering traders with advanced tools and insights,” said Bybit’s CEO Ben Zhou.

Bybit also launched in April an AI-powered engine that provides personalized trading recommendations and strategies to users based on their unique trading habits and preferences.

Dubbed ‘Tools Discovery,” the new tool uses machine learning algorithms to analyze market data and identify potential trading opportunities. Traders can customize their strategies and receive alerts when specific trading conditions are met. By analyzing back tested data, the algorithm can suggest strategies that respond to current market conditions, taking the emotion out of trading and enabling users to make data-driven decisions tailored to their unique profile.

Read this next

Industry News

SEC charges $15 million Ponzi scheme targeting Mexican-American community

Armando Gutierrez Rosas purportedly intended to invest these funds in U.S. real estate and mining operations in Mexico, assuring investors of monthly returns as high as 10 percent. Instead, Gutierrez operated a Ponzi scheme, diverting investor funds to cover his personal expenses, which notably included the acquisition of a $2.5 million mansion in Texas.

Digital Assets

Chainlink launches cross-chain interoperability protocol on Arbitrum One

Chainlink and Arbitrum join forces to bring the Chainlink Cross-Chain Interoperability Protocol (CCIP) to Arbitrum One, offering Web3 developers a powerful tool to build secure and interconnected applications across blockchains.

Executive Moves

STT appoints Brian Saldeen as Senior Risk & Margin Product Manager

Sterling Trading Tech welcomes Brian Saldeen to spearhead the development of their Risk & Margin offering, bolstering their cutting-edge solutions in the capital markets.

Industry News

Altruist eliminates brokerage account fees for advisors who choose their custody

Altruist, the modern custodian for independent RIAs, takes a bold step by eliminating portfolio accounting software expenses for all Altruist brokerage accounts, potentially saving advisors tens of thousands annually.

Retail FX

Exploring India’s Forex Market Timings With Insights From Experts

Traders Union experts identify the most profitable Forex trading windows for Indians as between 6.00-12.00 GMT and 18.00-0.00 GMT, emphasizing the importance of timing and market conditions in a rapidly evolving Indian financial landscape.

Retail FX UK doubles revenues, profit in 2022

The UK business of multi-licensed online brokerage group has reported its financials for its new fiscal year ending December 31, 2022. The group managed to best most of last year’s performance metrics, having grown its net income, and FY 2022 turned into the best revenue since it was founded.

Digital Assets

Alchemy goes legit in US with Money Transmitter License

Cryptocurrency payment gateway Alchemy Pay has marked a pivotal moment in its global expansion strategy by securing a crucial payment license in the United States. The company has obtained a Money Transmitter License in the state of Arkansas, joining the ranks of crypto giants like Coinbase and Jack Dorsey’s Block.

Digital Assets

eToro crypto business gets CySEC license

eToro has received approval from CySEC to operate as a crypto asset services provider, providing a regulatory stamp for the company’s digital assets and cryptocurrencies business in Cyprus and Europe.

Metaverse Gaming NFT

Industry Leaders DER Touristik Online, Lufthansa Group, and Chain4Travel Host First Web3 & Travel Hackathon

DER Touristik Online, Lufthansa Group, and Chain4Travel join forces to organize the travel industry’s first-ever hackathon centered on web3 technologies, delivering innovative prototypes in less than four days.