CoinMarketCap launches ChatGPT plugin

Crypto data aggregator CoinMarketCap, owned by crypto exchange Binance, has created a novel plugin for large-language model (LLM) based AI chatbot ChatGPT.

According to the October 11 announcement, users can access the feature by signing in to their ChatGPT Plus account and simply enabling the plugin, allowing them to ask the LLM on a variety of crypto-related questions. There is no additional fee 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 Sept 2021. ChatGPT’s recently-expanded web browsing capabilities likewise have limitations in serving real-time crypto data,” developers wrote. 

The LLM is capable of generating answers for simple questions such as “How correlated are Bitcoin and Ethereum in 2023?” to “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 info such as listing, gainers and losers, latest blockchain statistics, etc. The tool is compatible with both desktop and mobile devices. 

Multiple exchanges are currently experimenting with AI technologies amid the ChatGPT boom. In July, Cointelegraph reported that crypto exchange Bitget launched 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, Bitget’s managing director, revealed that the exchange is using AI tools to handle translation for its multi-language services as well as its customer service department.

Simultaneously, the NASDAQ exchange received approval from the U.S. Securities and Exchange Commission last month for AI-based trade orders. Crypto exchange Binance has also launched an AI-powered nonfungible tokens generator for verified users. 

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