Algorithm Known for Outperforming Bitcoin and Crypto Markets Abruptly Favors Top Ethereum Competitor

A trading robot with a reputation for outperforming the digital asset markets is sharing its newest portfolio allocations amid the ongoing crypto bear market.

Every week, the Real Vision Bot conducts surveys to compile algorithmic portfolio assessments that generate a “hive mind” consensus.

The bot’s latest data reveals that traders continue to have a strong preference for Ethereum (ETH), with the majority of market participants (more than 60%) voting to overweight their portfolios with ETH.

An ETH competitor, however, surged into second place this week. More than 43% of participants voted to overweight layer-1 smart contract platform Solana (SOL).

SOL is trading at $32.58 at time of writing. The 10th-ranked crypto asset by market cap is down 0.44% in the past 24 hours.

Bitcoin (BTC) came in third with a 37.5% allocation, followed by ETH layer-2 solution Polygon (MATIC), which had a 28.57% allocation.

Rounding out the top five is Cosmos (ATOM), an ecosystem of blockchains designed to scale and communicate with one another. ATOM had a 26.19% allocation.

Image
Source: Real Vision Bot/Twitter

The Real Vision Bot was co-developed by quant analyst Moritz Seibert and statistician Moritz Heiden.

Real Vision founder and macro guru Raoul Pal has called the bot’s historic performance “astonishing.” The former Goldman Sachs executive says the bot outperforms an aggregated bucket of the top 20 crypto assets on the market by more than 20% by simply taking surveys from digital asset traders.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/SvetaZi/Natalia Siiatovskaia

The post Algorithm Known for Outperforming Bitcoin and Crypto Markets Abruptly Favors Top Ethereum Competitor appeared first on The Daily Hodl.

Leave a Reply

Your email address will not be published.