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  • Writer's pictureJamal Saafir

CoinMarketCap Incorporates ChatGPT

Updated: Oct 19, 2023

According to a report from Cointelegraph, crypto data aggregator CoinMarketCap, owned by the world’s leading crypto exchange Binance, has created a plugin for the large-language model (LLM)-based AI chatbot ChatGPT.

According to the October 11th announcement, users can utilize the feature by signing in to their ChatGPT Plus account and easily enabling the plugin, granting them the ability to ask the LLM various crypto-related questions.

No additional fee is charged to use the plugin, aside from the $20-per-month subscription fee for ChatGPT Plus. “The base ChatGPT has limited use to crypto enthusiasts, as data is mostly restricted up to September 2021. ChatGPT’s recently-expanded web browsing capabilities likewise have limitations in serving real-time crypto data,” developers wrote.

The LLM has the ability to generate answers for less complex questions such as “How correlated are Bitcoin and Ethereum in 2023?” or “How do variations in token distribution models (ICO/IDO/launchpads, etc) correlate with observed price volatility?” Through the integration, prompts generated by ChatGPT are sourced directly from CoinMarketCap, with real-time information such as listing, gainers and losers, latest blockchain statistics, etc. The tool works with both desktop and mobile devices.

Multiple exchanges are exploring artificial intelligence (AI) technologies amid the ChatGPT craze. In July, Cointelegraph reported that crypto exchange Bitget introduced an AI-powered feature for its grid trading strategies, leveraging the use of trading algorithms to automate transactions for users. In an interview, Gracy Chen, managing director at Bitget, disclosed that the exchange is utilizing AI tools to manage translation for its multi-language services as well as its customer service department.

At the same time, the Nasdaq exchange acquired approval from the United States Securities and Exchange Commission last month for AI-based trade orders. Crypto exchange Binance has also launched an AI-powered non-fungible token generator for users verified by the platform.

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