The TAO token, linked to the Bittensor blockchain network, fell nearly 25% within 72 hours after Covenant AI, a major subnet, exited citing centralization issues. Covenant AI criticized Bittensor's leadership for undermining decentralization by suspending subnet emissions and controlling key decisions. This exit challenges the AI-driven crypto momentum, highlighting potential structural problems in Bittensor despite strong overall growth in AI tokens. The decline in TAO may signal deeper troubles rather than a short-term market correction.
Bittensor (TAO) dropped below the $200 support level, hitting a monthly low of $193 due to increased futures outflows and declining open interest, indicating reduced exposure by derivatives traders. Despite the bearish momentum, spot market data show...
NEAR Protocol's price rose above $2, supported by renewed interest in AI-related cryptocurrencies and an 83% surge in trading volume. The token is breaking out of a falling wedge pattern, with a confirmed breakout above $2.03 potentially driving pric...
