Coinbase, an American based crypto exchange, has recently teamed up with Perplexity AI, aiming to revolutionize and comprehend the crypto markets in a forward-looking fashion. So, basically, the merger incorporates real-time cryptocurrency market numbers from coinbase, refines and explains it plainly for the traders and investors, improving clarity, and understanding.
The collaboration would be executed in two gradual phases. Phase 1 (which is already operational); Perplexity’s AI-powered browser, Comet, ingests market data taken from coinbase, such as prices and insights from the COIN50 index, keeping track of the 50 most desired cryptocurrencies. With a simple click on the “Price movements” icon, users receive an AI-generated simple and layman explanation of the figures, backed by live data. This toned down explanation approach for an industry having a reputation for a “number goes up, number goes down” methodology could be a game changer.
While phase 2 will be waving this data directly into Perplexity’s AI Chabot, facilitating users with the liberty and ease to ask colloquial language questions such as “Why is Solana up today?” and get a layman yet context-aware answer to a pretty complicated problem. This collaboration intriguingly blurs the boundaries between research assistants, trading terminals, and search engines.
As far as the timing of this merger is concerned, it’s pretty accurate. Crypto markets are notorious for their volatile, complex, and ill-experienced traders, who are more excited and less cautious. A platform that deals with this problem would mean a great deal to the investors.
As of now, there are existing platforms that display prices and charts but very few that provide real-time explanation of always in motion market trends. Enjoining Perplexity’s AI reasoning with Coinbase’s regulatory-grade data, the merger delivers one of the most sought after services to the users, “signal over voice”.
Coinbase’s CEO Brian Armstrong’s vision is to lay groundwork for a literally autonomous financial system by creating these AI agents backed by real-time financial acumen that can manage crypto wallets and execute trades on its own.
