Whether it's crypto, stocks, or forex, the cold hard truth is that most traders lose.
An analysis of eToro trades revealed that nearly 80% of the platform's active users were unprofitable over the course of a year, with a 36.3% median loss. Another study found that 97% of futures traders in Brazil lost money over 300 days. Only 5% of Taiwanese day traders were profitable between 1992 and 2006.
When the stakes are high, human error becomes costly. This is the case with trading, where trader decisions are often tainted with split-second decisions, panic-based actions, and a sunk cost fallacy mentality. This is likely why the stock market is increasingly run by machines and algorithms.
Artificial intelligence has proved capable of tackling this challenge, and one company called Walbi has already designed an AI solution to assist crypto traders.
Tapping Into the Power of AIRecent breakthroughs in generative AI have created tremendous hype around artificial intelligence tools.
The technology has proven effective in tasks thought to be impossible for an algorithm, like content creation and art generation. Now, AI technology is increasingly prolific in the financial industry. While robo-advisor AUM is expected to reach $2.02 trillion by 2027, startups are leveraging AI to enhance crypto trader performance.
AI offers the advantage of processing data much faster than a human. Where a human has to spend hours or days understanding trends and making decisions based on them, an AI can recognize patterns in seconds and offer advice to the trader. It can analyze the market in real-time and catch sudden shifts, fraud, and malicious activity, and even make low-level trading decisions. This allows traders with AI assistance to make quick and confident trading decisions, which in the trading world is incredibly important.
Walbi is currently building a crypto trading platform that offers all these benefits, and the project is expected to achieve a significant milestone with the launch of its minimum viable product (MVP) in June 2023.
Walbi's AI-Driven Crypto Trading SolutionWalbi is a next-gen hybrid decentralized finance (DeFi) platform consisting of a crypto exchange, non-custodial Web3 wallet, and AI tool suite to supercharge trader decision-making. The project has multiple flagship solutions that aim to fulfill Walbi’s mission to make the blockchain industry simpler and more intuitive for everyone.
The first one is the Walbi Exchange, a crypto exchange offering up to 500 times more leverage for futures traders without a mandatory KYC. Besides managing liquidity, Walbi's AI tools optimize the order book by predicting demand for digital assets and automatically detecting wash trading, spoofing, and other malicious activity.
Besides Walbi Exchange, the project will offer:
- Walbi Lighthouse: An AI-based trading assistant that does research on behalf of traders and assists them with real-time financial data analysis and personalized trading advice. Lighthouse helps traders make more confident and well-informed decisions while minimizing the risks of human error
- Walbi Earn: Allows users to stake their crypto assets on Walbi to earn interest without any locking periods and with weekly payouts
- Walbi Cloud Miner: A cloud mining solution enabling users to mine BTC without purchasing or operating expensive equipment
- Walbi Wallet: A decentralized, non-custodial Web3 wallet offering users full control over their funds
Walbi is currently in closed alpha but will soon launch its MVP. This release will expand the project's ecosystem with several features and functions, including:
- WalletConnect integration
- digital asset deposits and withdrawals
- margin trading
- AI-driven trading insights via Walbi Lighthouse
- the Walbi Waves invite system
Besides the features listed above, Walbi's roadmap includes numerous future feature releases. During Q3-Q4 2023, the platform plans to launch WalletConnect integration and margin trading, NFTs, Walbi Lighthouse, and token swaps. Walbi Waves and Cloud Mining, Walbi Exchange, Walbi Earn and portfolio tools, and Walbi Wallet will become accessible to platform users throughout 2024.
Crypto Trading, SuperchargedArtificial intelligence models are poised to be an unprecedented improvement to trader performance which has long struggled with unprofitable strategies and approaches.
Walbi is arriving soon and will be one of the first to leverage the power of AI to make trading faster, easier, and safer. With the assistance of AI tools, the project enables crypto traders to make data-driven decisions, potentially increasing their long-term profitability.
Want to learn more about Walbi? Check out the project's blog and subscribe to its Telegram and Twitter channels.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
