Bittensor (TAO) has been the talk of the town lately. This interest comes on the back of the rise of AI-linked tokens, where the industry has seen its strongest performance of the month.
TAO social activity increased by 141%
TAO’s social engagement is at its highest level in a year! Monthly interactions are now 141% above the 30-day average, while social dominance has nearly doubled from a year ago.
But why? AMBCrypto was previously reported Grayscale recently increased TAO’s weighting to 43% in its AI-focused fund, adding credibility to the token. Them also filed S-1 amendment for Spot TAO ETF.
ThorChain’s new integration also helped by opening up cross-chain liquidity access. ask ask ecosystem. Token is also recently praised NVIDIA’s Jensen Huang and popular VC Chamath Palihapitiya are driving an overall increase in adoption.
That’s not all, as TAO’s trading volume is up 120% compared to its daily average at the time of writing. There has also been a huge increase in market participation.
TAO outperforms major AI tokens, industry leads monthly gains
TAO gained 10% in 24 hours and 8.1% over the week, placing it among the stronger major AI tokens.
Other well-known projects such as NEAR Protocol (NEAR) gained 14.1% for the week, while Render (RENDER) was up 15.8%.
TAO continues to stand out in terms of size and liquidity. With a market cap of $3.68 billion and over $772 million in 24-hour volume, it is currently comfortably ahead in the AI basket.
But the bigger story is the background of the industry.
According to Artemis, the AI sector is up 28.9% in the past month, making it the best-performing sector across crypto. This puts the category ahead of privacy coins at 23.0%, utilities at 14.2%, and even 14.2%. Ethereum (ETH) the sector is at 13.4%.
And so the buzz around TAO (and the rally) is not isolated. This is part of a larger rotation into AI-related crypto assets.
Final Summary
- TAO’s social engagement increased by 141%, while trading volume increased by 120%.
- The AI crypto sector is up 28.9% this month, making it the best-performing segment in the market.
