‘Hive Mind’ Algorithm Shows Crypto Traders Bullish on Polkadot (DOT), Avalanche (AVAX) and Polygon (MATIC)
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An autonomous bot that’s been outperforming the cryptocurrency market by using data from weekly surveys of traders indicates that several altcoins are gobbling up market share from crypto titans Bitcoin (BTC) and Ethereum (ETH).
The Real Vision Bot was co-developed by quant analyst and hedge fund CEO Mortiz Seibert as a way to obtain signals and gauge trader sentiment from fans of the financial content platform Real Vision.
Real Vision says the bot has had an “astonishing” record of outperforming the aggregated bucket of top 20 cryptos by more than 20% – simply by surveying the preferences of traders.
In a new tweet, Real Vision says that while actual exchanges saw an increase in Polkadot (DOT) holdings, the algorithm is partial to smart contract platform Avalanche (AVAX) and layer-2 scaling solution Polygon (MATIC).
“Latest weights of the @RealVision Exchange crypto portfolio. It’s getting crowded in the Exchange portfolio.
Ethereum, Bitcoin and Terra have been reduced in weight.
Polkadot, AVAX and Polygon were increased. The Bot prefers/likes the last two.”
The latest survey results show that while traders still prefer a portfolio with a plurality of Ethereum, that 19.1% allocation is down 2.36% from last week.
Bitcoin is fifth on the list, down 3.36% to account for 10.3% of portfolio weight.
Surging ahead in the bot’s portfolio was Polygon, which is up 4.59% to a total of 15.9%. Avalanche was ranked seventh at 9.87% of bot holdings, and overall it increased by +4.41% over the past week.
Polkadot surged by 5.32% in the real-world crypto exchange holdings to 9.81% despite little interest from the bot’s algorithm.
Decentralized finance protocol Terra (LUNA) is in third place with 14.7% of portfolio weight, a weekly drop 3.41%, followed by enterprise-grade blockchain platform Fantom (FTM) which saw a 2.29% increase to 10.8% of holdings.
Rounding out the top-9 crypto assets were decentralized network Cosmos (ATOM) in sixth, virtual gaming world Decentraland (MANA) in eighth, followed by decentralized oracle network Chainlink (LINK).
Participants in the Real Vision Bot’s surveys don’t necessarily have to own the crypto in question in order to cast a vote for it. In an interview with Real Vision, the bot’s co-creator Moritz Seibert describes it as a “hive mind” that is able to beat other entities in the crypto ecosystem.
“This bot is really fascinating because it started as a research project, where we linked it up with a Real Vision Exchange to run paper portfolios based on weekly surveys, where what we wanted to find out is if there’s a Real Vision hive mind that can beat the markets and that can also beat the interviewees, the professionals that are interviewed on the Real Vision platform.
And so, as it turns out, there is a hive mind crypto portfolio that’s far ahead of the bot run crypto portfolio and the experts and the market.”
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Featured Image: Shutterstock/MiniStocker
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