The TAO token of Bittensor plunged 18% following Covenant AI's exit, one of the largest subnet operators, citing centralized control by Bittensor's co-founder. Covenant AI's founder accused the project of 'decentralization theatre,' alleging unilateral decisions and token sales without community consent. This led to Covenant AI liquidating over 37,000 TAO tokens, causing panic selling and a sharp price decline. The incident raises concerns about true decentralization in AI blockchain projects amid growing investor scrutiny.
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...
