From Nasdaq:

Promoted by Grayscale and backed by artificial intelligence technology, Bittensor (CRYPTO: TAO) is gaining attention and aiming to dominate the AI-powered crypto token space. In the past week, Bittensor reported gains of 35.3%, pushing its year-on-year gain to 254.2%, outperforming meme coins Dogecoin and Shiba Inu. Grayscale sees “signs of adoption” for several AI-related cryptocurrencies, emphasizing the broadening applicability and relevance of blockchain.

Bittensor is behind the market cap of meme coins, but has been called the “most undervalued” aspect of the crypto market and the “first form of intelligence as a commodity” by sources across social media platforms. A PhD student explained why TAO should reach $100,000, emphasizing that Bittensor should be viewed differently than other blockchain projects due to its diverse projects and pure form of AI. Another user expressed his strong belief in the potential of TAO.

As a novel decentralized network, Bittensor aims to address AI bias by incentivizing diverse pre-trained models to generate the best responses, leading to the network rewarding top performers and eliminating underperforming and biased models. Grayscale outlined the immediate need for synergy between AI and crypto amid the “broadening applicability and relevance of public blockchain use cases beyond a form of payment.” The AI-adjacent crypto tokens TAO, Render, Akash Network, and Worldcoin reported a combined rally of 522% in the last year, outperforming the Utilities and Services Crypto Sector (+86%).

Bittensor’s initial progress features 32 subnetworks specialized for specific use cases. The rapidly increasing interest and adoption in AI-related cryptocurrencies emphasize the growing importance of AI and crypto in the blockchain space.



Read more: Is TAO The ‘Dogecoin Killer’? Grayscale Tweets ‘Signs Of Adoption’ While One Trader Says He’s ‘Not Selling’ Until TAO Flips ‘The Dog Coin’