Cryptodata platform CoinMarketCap announced on Wednesday, Oct. 11, the launch of a ChatGPT plugin. The extension gives users access to up-to-date cryptodata coming directly from CoinMarketCap. In doing so, the chatbot is able to identify crypto market correlations and answer complex questions. A powerful tool for coin analysis?

Do bitcoin and Ethereum correlate? Under which U.S. president did bitcoin perform best? How does more liquidity affect the price of Cardano? The chatbot provides information on this. CoinMarketCap is one of the most popular data platforms for cryptocurrencies. It is mainly used to monitor prices, but also provides more in-depth information about the coins.

Artificial intelligence, equipped with crypto real-time data, is particularly well suited to recognize correlations. Between prices of individual currencies or events - such as a major interest rate adjustment or political changes. However, the chatbot does not offer fully comprehensive chart analysis. Still, the feature is well suited for research purposes.

"We are very proud of what we are delivering with the CoinMarketCap plugin for ChatGPT. Combining AI with a comprehensive real-time data source like CoinMarketCap will change the way people do research. It's like giving every crypto investor their own personal crypto analyst," said CoinMarketCap Product Manager, David Salamon.

How does the plugin work?

Those who want to use the service need a ChatGPT account in the current Plus version GPT4. Cost: 20 US dollars per month. All extensions can be found under the "Plugins" menu item.

Once in the plugin store, users can find and install the associated tool "CoinmarketCap" via the search bar. As usual with ChatGPT, the tool is operated via text input.