- Walbi has developed an AI-driven solution to assist traders in making data-driven decisions and potentially increase profitability.
- The solution includes features such as an AI-based trading assistant, an optimized order book, a non-custodial wallet, and a cloud mining solution.
Whether it’s with cryptocurrency, stocks, or forex, the harsh reality is that most traders lose. A closer look at eToro trades revealed that nearly 80% of the platform’s active users were losing money over a year, with a median loss of 36.3%. Another study discovered that 97% of Brazilian futures traders lost money over 300 days. Between 1992 and 2006, only 5% of Taiwanese day traders were profitable.
When the stakes are high, human error becomes costly. This is particularly true in trading, where split-second decisions, panic-driven actions, and a sunk cost fallacy mentality frequently taint trader decisions. This is likely why computers and algorithms increasingly control the stock market.
Artificial intelligence has proven capable of addressing this challenge, and one company, Walbi, has already developed an AI solution to assist cryptocurrency traders.
Taking Advantage of AI’s Potential
Recent advances in generative AI have generated a lot of buzz about artificial intelligence tools.
The technology has proven effective in tasks previously thought impossible for an algorithm to perform, such as content creation and art generation. AI technology is becoming more prevalent in the financial industry. While robo-advisor AUM is expected to reach $2.02 trillion by 2027, startups are leveraging AI to improve the performance of crypto traders.
AI has the advantage of processing data much more quickly than a human. Whereas it takes human hours or days to understand trends and make decisions based on them, AI can recognize patterns in seconds and offer advice to traders. It can analyze the market in real time, detecting sudden changes, fraud, and malicious activity, and even making low-level trading decisions. This enables traders who use AI to make quick and confident trading decisions, which is critical in the trading world.
Walbi is currently developing a cryptocurrency trading platform that provides all of these benefits, and the project is expected to reach a significant milestone with the release of its minimum viable product (MVP) in June 2023.
Walbi’s AI-Powered Crypto Trading Platform
Walbi is a next-generation hybrid decentralized finance (DeFi) platform that includes a crypto exchange, non-custodial Web3 wallet, and AI tool suite to help traders make better decisions. The project has several flagship solutions that aim to fulfill Walbi’s mission of making the blockchain industry more straightforward and intuitive for everyone.
The first is the Walbi Exchange, a cryptocurrency exchange that provides up to 500 times more leverage for futures traders without requiring a KYC. Walbi’s AI tools optimize the order book by predicting demand for digital assets, automatically detecting wash trading, spoofing, and other malicious activity, and managing liquidity.
Aside from Walbi Exchange, the project will provide the following:
Walbi Lighthouse: This AI-powered trading assistant conducts research on traders’ behalf and provides real-time financial data analysis and personalized trading advice. Lighthouse assists traders in making more confident and informed decisions while reducing the risk of human error.
Walbi Earn: Allows users to stake their crypto assets on Walbi to earn interest without locking periods and weekly payouts.
Walbi Cloud Miner: A cloud mining solution that allows users to mine BTC without expensive equipment.
Walbi Wallet: A Web3 wallet that is decentralized and non-custodial, giving users complete control over their funds.
Walbi’s Upcoming MVP Release
Walbi is currently in closed alpha, but its MVP will be available soon. This release will add new features and functions to the project’s ecosystem, including:
Walbi is currently in closed alpha, but its MVP will be available soon. This release will add new features and functions to the project’s ecosystem, including:
- WalletConnect integration
- digital asset deposits and withdrawals
- margin trading
- AI-driven trading insights via Walbi Lighthouse
- the Walbi Waves invite system
Walbi’s roadmap includes numerous future feature releases in addition to the features listed above. The platform intends to launch WalletConnect integration and margin trading, NFTs, Walbi Lighthouse, and token swaps in Q3-Q4 2023. Platform users will be able to access Walbi Waves and Cloud Mining, Walbi Exchange, Walbi Earn and portfolio tools, and Walbi Wallet throughout 2024.
