Cryptocurrency

Market-Beating Trading Bot Is a Big Fan of This Altcoin


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Real Vision Bot, a trading bot that is popular for outperforming the crypto market, has shared its newest portfolio allocations amid the ongoing bear market. Since the collapse of the FTX exchange, crypto prices have not been in turmoil.

Trading bot is a fan of Polygon (MATIC)

Real Vision Bot has become a go-to platform by crypto traders looking for the next assets that will help them grow their portfolio. Each week, this bot carries out surveys to combine algorithmic assessments that will generate a “hive mind” consensus.

For the first time, the algorithm powering the bot has heavily weighted in the favour of Polygon (MATIC). Polygon, a layer two scaling solution on the Ethereum network has come in second place.

“Latest allocation of the free RealVision Exchange crypto portfolio and the Bot’s choice. Polygon has taken the lead for the first time in the survey, followed by USDC, Ethereum and AVAX. The Bot isn’t that sure about the latter one and keeps ~10% in Bitcoin,” a tweet said.

MATIC is not the only altcoin that has been heavily weighed by the bot. Ethereum is taking the lead, with the bot showing that crypto traders are largely preferring Ether, with most of the market players voting in preference of having Ether in their portfolios.

Bitcoin comes in the third place, and it is followed by the largest stablecoin by market cap, Tether (USDT). Ethereum competitor, Avalanche (AVAX) follows in fifth place, while Cosmos (ATOM) has secured the sixth position. Another Ethereum competitor, Polkadot (DOT) has secured the seventh position.

Real Vision Bot is a trading tool co-created by Moritz Seibert, a quant analyst, alongside Moritz Heiden, a statistics expert. The founder of Real Vision, Raoul Pal, has said that the performance of the bot is “astonishing.” According to Pal, this bot has outperformed an aggregate of the 20 largest cryptocurrencies in the market by over 20%.

Crypto market is trading higher today

The cryptocurrency market has reported a slight recovery in the last 24 hours. During this time, the global cryptocurrency market capitalization has increased by 2.1%, and it stands at around $892 billion according to data from CoinGecko.

All the top-ten largest cryptocurrencies by market cap are trading higher today, with the largest gainer in the list being Ether, which has gained 4.16% in the last 24 hours to trade at $1,267. Bitcoin has also gained 2.2%, and it was trading at $16,893.

BNB is showing signs of a bearish reversal after dropping by around 1% in the last 24 hours to trade at $300. XRP and Dogecoin have gained by 2.32% and 0.84% respectively in the last 24 hours, while Cardano and MATIC are up 1.29% and 3.54% respectively.

The market seems to be cooling down after the effects of FTX’s fallout. The bankruptcy filing by BlockFi yesterday has done little to no harm on the general prices. The Federal Reserve Chair Jerome Powell, will be speaking at the Brookings Institution, with the market eagerly waiting for hints on easing interest rates.

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