Crypto exchange Bybit has launched a new in-house AI-powered tool dubbed Tools Discovery as part of its mission to democratize access to financial opportunities in the digital economy.
The
tool provides users with personalized product and strategy
recommendations based on their trading habits, preferences, and current
market conditions.
- Tools Discovery utilizes backtested data by screening the user history to allow investors to make data-driven decisions.
- The algorithm also gives users insights into their investment style.
- The AI-powered tool offers the option of directly copying the suggested strategy or adding it to the watchlist.
- The watchlist allows users to test the performance of the recommendation by tracking it for 60 days.
- Bybit claims its AI-powered tool is the first in the crypto market.
- Rival crypto exchange OKX also recently integrated EndoTech.io’s AI-powered platform to allow its users to track market volatility and new trading opportunities in real time through AI algorithms.
- On the other hand, an AI-powered crypto trading decentralized app (dApp) dubbed YieldTrust.ai faced cease-and-desist orders from three U.S. states earlier in April.
