Coinbase Partners With $14 Billion Perplexity AI, COIN Stock Up 2%
Highlights
- Armstrong revealed that the first phase of the AI integration has gone live today.
- For the second phase, Coinbase's market data will be used in Perplexity's response to user queries.
- The COIN stock is up over 2% today.
Crypto exchange Coinbase has teamed up with AI giant Perplexity to provide added utility for its customers. Thanks to this partnership, traders on the platform will be able to access real-time data to make more informed decisions while trading. Meanwhile, the COIN stock is up following the announcement of this partnership.
Coinbase Taps Perplexity AI For Trading Utility On Exchange
In an X post, the exchange’s CEO, Brian Armstrong, announced that they have partnered with Perplexity AI to help traders get access to real-time, trusted crypto data and information for better decision making. He further revealed that the first stage is going live today and that there is more to come.
For Phase One, Perplexity AI will assimilate Coinbase’s market data, including COIN50, and utilize it to power market analysis. Users on the top crypto exchange can try it out by double-clicking on price moves to help make better informed trade decisions.
For Phase 2, which should happen soon, Armstrong revealed that the exchange’s market data will be used in Perplexity’s response to user queries. Traders on the exchange will be able to monitor market activity, screen for trade ideas, and analyze token-specific moves.
The Coinbase CEO further remarked that he expects crypto functionality to be a catalyst for AI to achieve another 10x unlock. He added that he is personally most excited to see crypto wallets fully integrated into LLMs one day.
Armstrong believes this will be a huge step towards a “permissionless. digital economy.” He again noted that access to real-time data through these increasingly intelligent LLMs will help many users make smart, informed decisions about crypto.
Amid this development, the COIN stock is up just over 2% in today’s trading session. TradingView data shows that the Coinbase stock price is currently trading at around $382. The stock is up 47% in the last month and 48% year-to-date (YTD).
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown
- Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility
- October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
- Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
