- More than three out of four non-professionals make money this year and plan to increase how much they trade.
- One in three have started trading in the past two years, GNY study finds.
- GNY Range Report uses advanced AI Crypto Intelligence to forecast the volatility of the 12 top cryptocurrencies.
More than three out of four crypto traders have made money in the first half of the year as retail investment in the digital assets market grows, new international research* from GNY Limited, the leading blockchain-based machine learning business, shows.
GNY, which has developed the free AI-powered Range Report, a cutting-edge machine learning tool designed specifically to forecast the volatility of the 12 top cryptocurrencies by leveraging multiple data points and advanced algorithms, questioned non-professional traders trading at least $5,000 a month on cryptocurrencies.
It found 77% say they have made money in the first half of this year. Around a fifth (20%) say they have made a lot of money while just 7% admit to losing money on cryptocurrency trading and 16% estimate they have broken even.
Around a third (33%) of the non-professional traders are new to cryptocurrency and only started trading in the past two years, the research found, with only 14% saying they had more than four years’ experience.
Their success has convinced them to increase their level of trading – 20% say they will dramatically increase their level of trading this year compared with last year while 57% will slightly increase the value of currencies they trade. Just 6% plan to reduce trading while 17% will maintain their current levels of trading.
Traders are positive about the long-term outlook too – 89% questioned said the current investment opportunities in the cryptocurrency market are attractive on a five-year view.
However the research found they are split on what will drive increases in cryptocurrency prices in the year ahead. Around half (50%) point to the growing involvement of traditional financial companies in the sector while 43% say the recent crypto winter has improved the quality of companies in the sector and 42% say increased regulation is boosting confidence.
GNY’s innovative platform empowers traders with accurate intelligence on potential price fluctuations, helping them make informed investment decisions as well as providing guidance on how to use and read charts, and market wide information. It simplifies the complex world of crypto into digestible information.
Cosmas Wong, CEO GNY said: “Non-professional traders have had a good run this year as prices across the sector have increased but people with longer memories will know the sector is not always so benign. Trading emotions can overshadow data-driven decisions and traders can lose money.
“The GNY Range Report is not a traditional news or chart aggregation platform. It leverages the power of machine learning to identify patterns in top crypto assets’ historical trading in order to forecast price volatility, delivering them in an approachable way.”
GNY.io is also using Large Language Models, another exploding sector of AI, to help make the insights in the GNY Range Report even more accessible. “Even looking at the GNY Range Report, which is extremely streamlined, can be too much for people who are interested in crypto but short on bandwidth”, says Wong. “Our AI Readouts will summarize the chart trends and eventually users will be able to interact with the models to customize the information they want, set alerts and customise notifications.”
GNY.io will also launch DataNFTs, or DNFTs, which will lay the foundation for openness and transparency into GNY’s processes, and for trustless ML collaboration. Using GNY DNFTs, community members and developers will be able to contribute data, models and other work products to the GNY Range Report and securely track usage, earnings, and subsequent implementation and data collaboration.
How to use the report
The GNY Range Report is a cutting-edge machine learning tool designed specifically to forecast the volatility of the 12 top (soon to be 25) cryptocurrencies. By leveraging multiple data points and advanced algorithms, the innovative platform empowers traders with accurate intel into potential price fluctuations, helping them make more informed trading decisions.
Unlike traditional market analysis tools, the GNY Range Report serves as a centralised hub, gathering and consolidating all relevant information in one place. The GNY Range Report ensures traders have access to the most pertinent data without feeling overwhelmed.
With its user-friendly interface and intuitive design, the GNY Range Report caters to both professional traders and passionate enthusiasts. It is a prosumer product that combines the robustness required for in-depth analysis with the accessibility needed for traders at any level of expertise.
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