The merging of blockchain technology with the prowess of AI (artificial intelligence) has paved the way for groundbreaking 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 underscores their capabilities but also heralds a new era of collaborative innovation.
Bittensor (TAO), a cryptocurrency centered around artificial intelligence, has made notable traction in the trending altcoin space. Its value surged nearly fivefold in under 30 days, riding the wave of excitement around AI-focused cryptocurrencies.
AI Crypto TAO Makes Presence Felt
This rapid growth highlights Bittensor’s commanding presence in the current altcoin landscape and reflects the increasing interest in cryptocurrencies that leverage AI to reshape finance and technology.
$TAO to the top 10 still probably the most obvious trade. Sell side liquidity on these CEXs is minimal. No real resistance. The market cap is a meme if the whales aren’t offloading 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 commanding increase of 80% in the last seven days and an impressive leap of nearly 400% in the last 30 days.
Based on data by TradingView, TAOUSDT tallied an all-time high of $267 on Monday, and boasts a market capitalization exceeding $1.27 billion.
As such, Bittensor (TAO) has surpassed Render Network (RNDR), which had been the clear leader in the market 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 fresh perspective. In order to create a decentralized economy, Bittensor plans to let AI models participate in blockchain consensus.
Making Significant Strides In The Crypto Space
Bittensor (TAO), an AI protocol based on open-source principles, was introduced to the public by Jacob Steeves, a former Google developer, on September 19, 2023.
Source: Taostats
Over the past two months, Bittensor (TAO) has made several significant announcements, encompassing notable improvements in miners’ performance, the introduction of additional subnets, and important advancements in the building of huge language models, among other things.
Meanwhile, an overwhelming majority of businesses (more than 70%) see 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 the Bittensor narrative has emerged with the recent crypto market boom that followed OpenAI’s AI Developer Day on Nov. 6.
Enhanced GPT-4 and GPT-3.5 natural language models are among the new AI capabilities unveiled by OpenAI, which may have an effect on AI tokens. This might be the reason why crypto-based AI is gaining popularity.
(This site’s content 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
