TAO price has surged past $460, gaining 16.26% in the past 24 hours. Open interest has also spiked by over 50%, reflecting rising speculative interest. The rally comes amid growing confidence in Bittensor’s subnet token expansion and its broader AI-driven ecosystem.
TAO Price Rallies as Market Interest Spikes
The price of Bittensor (TAO) has climbed to $461.84, marking a 16.26% increase in a single day. Over the past week, TAO has gained more than 33%, positioning itself among the top-performing altcoins in the market. This price jump coincides with a surge in open interest, which has grown by 50.92%, indicating heightened leveraged trading activity.
TAO Futures Open Interest Trends with Price Fluctuations. Source: CoinglassDespite broader market volatility, TAO has continued its bullish trajectory, drawing investor attention. According to data from CoinMarketCap, the token’s 24-hour trading volume stands at $320.47 million, reflecting increased market participation. The recent bullish momentum suggests growing confidence in Bittensor’s future, particularly in its subnet expansion and AI-related integrations.
Subnet Expansion and AI Hype Drive Price Surge
TAO’s recent rally has been fueled by developments within the Bittensor ecosystem, specifically the launch of subnet tokens. These subnets have introduced a new layer of complexity to the network, creating entry barriers for casual traders. However, crypto analyst Miles Deutscher believes this learning curve presents an opportunity for early adopters.
TAO Subnet Tokens Surge as Ecosystem Heats Up. Source: Miles Deutscher“There is a learning curve to get involved with it, but that kind of friction creates an opportunity for people who put in the extra work to be early and reap the rewards,” Deutscher stated.
Source: Crypto McKenna/XMeanwhile, Crypto McKenna highlighted that TAO has broken out of a bearish market structure following its transition to dynamic TAO. This change has effectively reduced supply-side inflation, strengthening the token’s long-term outlook.
“$TAO looks really strong here now that it has broken bearish market structure. The transition to dynamic TAO went smoothly, mitigating heavily the supply-side inflation,” McKenna noted.
Additionally, subnets themselves introduce inflationary pressure at the beginning. However, McKenna believes this will stabilize over time, ultimately fueling a new wave of AI speculation. This could further drive TAO’s value.
TAO’s price surge has certainly drawn market attention, but the real test is whether it can hold. Open interest is rising, showing that traders are betting on more gains. The token has gained 4.17% this year, maintaining an upward trend.
The post TAO Price Jumps Above $460 as Open Interest Soars 50% appeared first on Coinchapter.
%%featured_image%%
