In the rapidly evolving world of cryptocurrency trading, GNY, a blockchain-based machine learning business, has conducted a groundbreaking study revealing the evolving preferences and challenges faced by non-professional crypto traders. The research, based on insights from traders who handle at least $5,000 a month in cryptocurrencies, sheds light on the increasing demand for AI and machine trading tools.
Crypto Traders Embrace AI: 73% Seek Tools for Pattern Detection and Price Prediction
Key Finding: A significant 73% of non-professional crypto traders express interest in utilizing AI and machine trading tools to identify patterns and predict price movements.
Insight: The study reflects a growing awareness among traders about the potential benefits of leveraging advanced technologies in the highly dynamic crypto market.
GNY's Range Report: Crypto Forecasting with AI and LLMs
Key Feature: GNY introduces the Range Report, a free AI-powered tool using advanced machine learning to forecast volatility in the top 12 cryptocurrencies.
Innovation: The report leverages large language models (LLMs), such as OpenAI's ChatGPT and Meta's LLaMa 2, enhancing the tool's ability to identify trends and signals in the crypto market.
Diverse Data Sources: Crypto Traders Rely on More Than Just News Services
Key Insight: Only 29% of traders rate their current data sources as excellent, leading to a demand for more reliable information.
Usage Trends: While 49% currently rely on crypto platform and exchange news services, the study unveils a diverse range of sources, including telegram channels, news aggregators, podcasts, Twitter, and AI data services.
Building Trust in the Crypto Market: Insights into Information Sources
Key Perspective: Traders are divided on the most unbiased information source, with 35% trusting AI-driven analytics and 34% relying on influencers.
Trust Factors: The research explores the factors influencing trust, with 23% expressing trust in close friends, and 8% in family members.
GNY's Vision: Beyond News and Aggregation - The Range Report's Unique Approach
GNY's Approach: Cosmas Wong, CEO of GNY, emphasizes the uniqueness of the Range Report, highlighting its use of machine learning to forecast price volatility.
Future Developments: GNY is set to enhance user experience with AI Readouts, allowing users to interact with models for customized information, alerts, and notifications.
GNY's Next Step: Data NFTs Paving the Way for Trustless ML Collaboration
Innovation: GNY plans to launch Data NFTs (DNFTs), fostering openness and transparency in GNY's processes and enabling trustless ML collaboration.
Community Involvement: DNFTs allow community members and developers to contribute data, track usage, earnings, and collaborate securely on the GNY Range Report.
As the crypto landscape continues to evolve, GNY's Range Report emerges as a trailblazing solution, combining AI and machine learning to provide traders with comprehensive insights and forecasting tools. The study not only uncovers the current challenges faced by traders but also sets the stage for innovative developments in the crypto trading space.
