The Astonishing 400% Rise Of An AI Crypto
The fusion of blockchain technology with the prowess of AI (artificial intelligence) has paved the way for revolutionary initiatives. Among these, Bittensor (TAO) stands out as a cutting-edge protocol specifically developed for the advancement of machine learning models.
This dynamic synergy between blockchain and AI not only highlights their capabilities, but also heralds a new era of collaborative innovation.
Bittensor (TAO), an artificial intelligence-centric cryptocurrency, has seen notable success in the trending altcoin space. Its value has almost quintupled in less than 30 days, riding the wave of enthusiasm around AI-driven cryptocurrencies.
AI Crypto TAO makes its presence felt
This rapid growth highlights Bittensor’s dominant presence in the current altcoin landscape and reflects growing interest in cryptocurrencies that leverage AI to reshape finance and technology.
$TAO in the top 10 probably remains the most obvious profession. Sell-side liquidity on these CEXs is minimal. No real resistance. Market cap is a meme if the whales don’t unload their bags on you.
It’s now the #1 AI project and we’ve only seen 2% of what AI is capable of. pic.twitter.com/yWzPYurxG7
– Eric Cryptoman (@EricCryptoman) November 18, 2023
At the time of writing, TAO is valued at $265, reflecting a impressive increase of 80% over the past seven days and an impressive jump of almost 400% over the past 30 days.
Based on TradingView data, TAOUSDT calculated a an all-time high of $267 Monday and has a market capitalization above $1.27 billion.
As such, Bittensor (TAO) overtook Render Network (RNDR), which had been the undisputed market leader for a few months, to become the leading artificial intelligence cryptocurrency, according to CoinGecko.
TAOUSDT trading at $267 on the 24-hour chart: TradingView.com
By integrating artificial intelligence and blockchain consensus, the Bittensor (TAO) project offers a new perspective. In order to create a decentralized economy, Bittensor plans to let AI models participate in blockchain consensus.
Making significant progress in the crypto space
Bittensor (TAO), an AI protocol based on open source principles, was presented to the public by Jacob Steeves, a former Google developer, on September 19, 2023.
Source: Taostats
Over the past couple of months, Bittensor (TAO) has made several major announcements, including notable improvements in miner performance, the introduction of additional subnets, and significant advancements in building huge language models, among others .
At the same time, an overwhelming majority of companies (over 70%) view blockchain and AI as complementary technologies, highlighting the mutually beneficial relationship between the two.
TAO seven-day price action. Source: Coingecko
An intriguing new dimension to Bittensor’s narrative has emerged with the recent crypto market boom that followed OpenAI’s AI Developer Day on November 6.
Improved GPT-4 and GPT-3.5 natural language models are among the new AI features unveiled by OpenAI, which could have an effect on AI tokens. Perhaps this is the reason why crypto-based AI is gaining popularity.
(The content of this site should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Negative Space/Pexels
