Algorithm known for outperforming Bitcoin and crypto markets suddenly favors top Ethereum competitor
A trading robot with a reputation for outperforming the digital asset markets shares its latest portfolio allocations amid the ongoing crypto bear market.
Each week, the Real Vision Bot conducts surveys to compile algorithmic portfolio assessments that generate a “hive mind” consensus.
The pen’s last 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.
However, an ETH competitor moved into second place this week. More than 43% of participants voted in favor of overweight layer-1 smart contract platform Solana (SOL).
SOL is trading at $32.58 at the time of writing. The 10th ranked crypto asset by market capitalization has declined 0.44% in the last 24 hours.
Bitcoin (BTC) came in third with an allocation of 37.5%, followed by ETH tier-2 solution Polygon (MATIC), which had an allocation of 28.57%.
Rounding out the top five is Cosmos (ATOM), an ecosystem of blockchains designed to scale and communicate with each other. ATOM had an allocation of 26.19%.
Real Vision Bot was developed by quantum analyst Moritz Seibert and statistician Moritz Heiden.
Real Vision founder and macro guru Raoul Pal has called the bot’s historical performance “amazing.” The former Goldman Sachs executive says the bot outperforms a combined portion of the top 20 cryptoassets on the market by more than 20% simply by taking surveys of digital asset traders.
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Featured image: Shutterstock/SvetaZi/Natalia Siiatovskaia
