Bittensor (TAO) is riding a wave this week, outperforming many Layer-1 peers with a 13% surge in 24 hours, even though it’s down roughly 7% over the past week. It’s trading around $346.18 with a market cap near $3.32 billion—still well below its all-time high of $760, but showing signs of revival.
Bittensor Makes Waves Amid Institutional Adoption
On-chain momentum isn’t the only force pushing TAO higher. Safello just launched Europe’s first regulated TAO ETP, now trading on major exchanges like SIX Swiss and Xetra. That adds visibility for both retail and institutional players. TAO Synergies (Nasdaq: TAOX) also recently revealed it’s stockpiled 42,111 TAO (~$13.5M) and is actively staking to earn yield in the Bittensor ecosystem.
From a chart perspective, TAO has formed a bearish engulfing at the daily high ($375) before pulling back to $342. But with support around the 61.8% Fibonacci level ($349) and MACD showing bullish crossover on longer charts, techs see potential for upside. Analysts are calling for a rally to $461.44 by 2026 and even see the $947 mark by 2031 if decentralized-AI demand grows.
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