Sep 24, 2024
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Bittensor ($TAO) is blowing up, hitting almost $600, partly due to Grayscale hyping it up and getting institutional attention.Bittensor ($TAO) was trading at $220 on Sep 6th, 2024; today, it almost touched $600. Why is $TAO price spiking? Is Bittensor the best AI crypto project? Is Bittensor unstoppable?
One of the reasons for Bittensor’s spike is Grayscale Bittensor Trust. This backing has fueled institutional interests in Bittensor.
Grayscale is shilling $TAO regularly on the X platform (previously twitter).
When big players are involved, retailers and crypto degens are obviously attracted.
Bittensor is a blockchain that incentivizes digital commodities. Generating quality AI outputs rewards people with $TAO token. Anyone can join Bittensor to create a subnet (to run AI models), to join as a miner and validator. Miners complete requested tasks of validators and validators weigh the miner to reach consensus.
Bittensor is unique with its Yuma consensus. Bittensor has fixed 21m supply cap. Bittensor has halvings. Bittensor has token recycling. Bittensor has a vibe like Bitcoin. What Bitcoin is to Money, Bittensor is to AI.
Marketcap of decentralized $TAO is $4.1 billion USD at $550 while close-sourced OpenAI is valued at $150b. Can we expect $TAO at 4 digit price?
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