- Just 29% believe data sources are excellent with platform and exchange news services the most used
- GNY Range Report uses advanced AI Crypto Intelligence to forecast the volatility of the 12 top cryptocurrencies
Nearly three out of four (73%) of non-professional crypto traders believe they would benefit from using AI and machine trading tools to detect patterns and predict price movements, new international research from GNY Limited, the leading blockchain-based machine learning business, shows.
The study with traders trading at least $5,000 a month on cryptocurrencies found just 29% rate the data sources they currently use as excellent with crypto platform and exchange news services the most used.
GNY has developed the free AI-powered Range Report, a cutting-edge machine learning tool designed specifically to forecast the volatility of the 12 top cryptocurrencies by leveraging multiple data points and advanced algorithms. GNY has further enhanced the tool to use large language models (LLMs) such as OpenAI’s ChatGPT and Meta’s LLaMa 2. making it even easier for users to identify notable changes in trends and signals in the crypto market.
The innovative platform empowers traders with accurate intelligence on potential price fluctuations, helping them make informed investment decisions as well as providing guidance on how to use and read charts, and market wide information. It simplifies the complex world of crypto into digestible information.
The research found 88% are making more use of trading tools and services including ones which help predict price movements. Currently 49% say they use crypto platform and exchange news services to inform trading strategies and day to day activity.
However the research found they are just one of a wide range of sources. Around 45% use crypto telegram channels while 44% look at news aggregators and 41% use podcasts. Nearly two out of five (38%) look at Twitter accounts and 36% AI data services while 31% use charting tools.
GNY’s study found traders are split over which source offers the most unbiased information. Around 35% say AI-driven analytics while 34% trust influencers the most, Nearly a quarter (23%) would trust a close friend and 8% a family member.
Cosmas Wong, CEO GNY said, “There is huge demand for data sources in the crypto market, but traders do not appear to be entirely convinced by the range of options,”
“The GNY Range Report is not a traditional news or chart aggregation platform. It leverages the power of machine learning to identify patterns in top crypto assets’ historical trading in order to forecast price volatility, delivering them in an approachable way.” Wong added
GNY.io is also using Large Language Models, another exploding sector of AI, to help make the insights in the GNY Range Report even more accessible. “Even looking at the GNY Range Report, which is extremely streamlined, can be too much for people who are interested in crypto but short on bandwidth”, says Wong. “Our AI Readouts will summarize the chart trends and eventually users will be able to interact with the models to customize the information they want, set alerts and customise notifications.”
GNY.io will also launch DataNFTs, or DNFTs, which will lay the foundation for openness and transparency into GNY’s processes, and for trustless ML collaboration. Using GNY DNFTs, community members and developers will be able to contribute data, models and other work products to the GNY Range Report and securely track usage, earnings, and subsequent implementation and data collaboration.
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