AI-Based Crypto Signals Platform yPredict Raises $3.4 Million – How Does it Work?
The crypto market has seen immense growth and adoption over the past few years. The highly volatile nature of digital assets makes crypto trading a high-risk, high-reward game, however.
This is where AI-driven crypto signals platforms like yPredict come in—to provide data-driven insights to help traders make informed decisions and reduce risk.
yPredict, an AI-powered platform for crypto trading research and analysis, has recently raised $3.4 million in funding so far during its presale event. The project's goal is to bring together financial experts, quants, data scientists, and traders to deliver reliable crypto trading signals and predictions.
But how exactly does yPredict generate these algo-based trading insights? Let's take a closer look under the hood.
Bridging the Gap Between Markets and Traders
At its core, yPredict wants to bridge the knowledge gap between complex crypto markets and regular retail traders. Its suite of analytical tools will be powered by AI to filter out the noise and detect reliable patterns. This would provide traders with a statistical edge for better risk management.
The platform's pattern recognition feature will automatically detect over 100 chart patterns like head and shoulders or cup and handle across any timeframe. Each pattern will have a confidence score based on its recent performance.
yPredict is also working on a system that analyzes news headlines and social media chatter related to cryptocurrencies using natural language processing and sentiment analysis. The tool will generate an overall positive, negative, or neutral sentiment score to gauge market momentum.
The platform will further backtest hundreds of technical indicators on recent historical data to highlight the ones that have shown predictive power for a particular coin.
By combining fundamental, technical, and sentiment data, yPredict strives to offer traders a complete 360-degree market perspective. Its indicators will detect repeating patterns, improving the odds of traders placing statistically sound crypto trades.
yPredict's native utility token, YPRED will provide access to the platform's suite of analytical tools and metrics.
YPRED will also offer quarterly staking rewards, allowing token holders to earn passive income. But unlike conventional staking rewards that come from fixed liquidity pools, yPredict has a twist. Its staking pools will derive liquidity from deposit fees paid by new users joining the platform.
So as yPredict expands its user base, the quarterly staking rewards will go as high as 45%.
The yPredict Marketplace—A Platform for Quant Models
The yPredict Marketplace intends to connect skilled developers and quants with traders who can benefit from algorithmic trading strategies.
Financial data scientists will have the opportunity to publish their own quantitative models on the marketplace to sell access on a monthly subscription basis. This allows them to monetize their predictions and generate passive income without needing to engage in active crypto trading.
Traders, on the other hand, will be able to browse through different predictive models to find profitable signals based on their risk appetite. They can subscribe to these strategies by staking YPRED tokens, and leverage algorithmic insights in their own trading.
yPredict will charge a 20% fee on every subscription purchased through its marketplace. Of this fee, 10% will be distributed among YPRED token stakers. The remaining 80% will go to the model developers.
yPredict's Products: Analytics, Marketplace, and Predictions
In addition to the Marketplace, yPredict offers two other key products—the yPredict Analytics Platform and the Market Predictions platform.
The Analytics Platform will be equipped with features like pattern recognition, sentiment analysis, indicator filtering, and transaction analysis. It will detect chart patterns, gauge news sentiment, backtest indicators, and examine transaction data to generate trading insights.
With plans in place for operating on a freemium model, the Analytics Platform will provide free basic access along with premium membership tiers. The Market Predictions platform will offer free price forecasts for different crypto assets based on yPredict's proprietary algorithms.
yPredict represents a new breed of AI-driven fintech platforms aspiring to open up algorithmic trading for the masses. Its suite of analytical tools will provide retail traders with insights that are currently accessible only to hedge funds and large institutions.
By merging financial analysis with big data, NLP, and machine learning, yPredict has the potential to drive innovation in the fintech sector. Its emphasis on making reliable signals accessible plays an important role in promoting responsible crypto adoption.
If executed well, yPredict could evolve into a valuable resource for traders navigating the volatile crypto waters. For now, the platform shows promising signs of bridging the gap between complex markets and informed trading decisions.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.