Crypto Traders Bullish on Polkadot (DOT), Avalanche (AVAX) and Polygon (MATIC) ! Here’s Why? – Coinpedia – Fintech & Cryptocurreny News Media

The crypto market has been trading with mixed results and minimal volatility. BTC is trading at $41.8K however it is still in green trade. ETH has plunged down to $3K. While the majority of altcoins trade in red, some trade in green.

Several altcoins are eating market share from crypto titans Bitcoin (BTC) and Ethereum (ETH), according to an autonomous bot that has been outperforming the cryptocurrency market by leveraging data from weekly trader polls (ETH).

Mortiz Seibert, a quant analyst and hedge fund CEO, co-created the Real Vision Bot as a tool to get alerts and evaluate trader sentiment from consumers of the financial information platform Real Vision.

The bot has a “astonishing” track record, according to Real Vision, surpassing the aggregated bucket of top 20 cryptos by more than 20% solely by surveying trader preferences.

While actual exchanges witnessed a spike in Polkadot (DOT) holdings, the algorithm is partial to smart contract platform Avalanche (AVAX) and layer-2 scaling solution Polygon, according to a new tweet from Real Vision.

“Ethereum, Bitcoin and Terra have been reduced in weight. Polkadot, AVAX and Polygon were increased. The Bot prefers/likes the last two.”

What Traders Prefer?

While traders still prefer a portfolio with a mix of Ethereum, the 19.1 percent allocation is down 2.36 percent from last week, according to the latest poll data.

Bitcoin is ranked fifth on the ranking, having dropped 3.36 percent to 10.3 percent of portfolio weight.

Polygon, which is up 4.59 percent to a total of 15.9 percent in the bot’s portfolio, is surging ahead. With 9.87 percent of bot holdings, Avalanche was ranked eighth, and it had gained by +4.41 percent in the previous week.

Despite little interest from the bot’s algorithm, Polkadot increased its holdings on real-world crypto exchanges by 5.32 percent to 9.81 percent.

Terra (LUNA), a decentralised finance system, is in third place with 14.7 percent of portfolio weight, down 3.41 percent from the previous week, and is followed by enterprise-grade blockchain platform Fantom (FTM), which increased 2.29 percent to 10.8 percent of holdings.

Decentralized network Cosmos (ATOM) came in sixth, virtual gaming world Decentraland (MANA) came in eighth, and decentralised oracle network Chainlink came in ninth.

Participants in the Real Vision Bot’s polls aren’t need to hold the cryptocurrency in question to vote for it. Moritz Seibert, the bot’s co-creator, described it as a “hive mind” capable of outperforming other entities in the crypto ecosystem in an interview with Real Vision.