Kraken's listing of Bittensor subnet tokens could democratize access to decentralized AI investments, potentially reshaping crypto markets. Kraken lists Bittensor subnet alpha tokens, including Chutes AI and Targon Compute.
The new investment vehicle arrives as asset managers expand TAO offerings and decentralized AI gains momentum following recent restrictions on Anthropic's models.
Bittensor's decentralization plan could reshape governance dynamics, potentially stabilizing TAO's market but risking new centralization forms. Bittensor founder targets full decentralization within 18 months.
Bittensor has continued to decline, largely driven by whales aggressively selling.
Bittensor's TAO token has fallen nearly 20% from its June 15 peak after governance concerns, derivatives liquidations, and a risk-off macro backdrop combined to erase much of last week's rally. According to data from crypto.news, Bittensor (TAO) price dropped 4.
Bittensor, with a market cap of $3 billion, currently ranks among the top 30 cryptos in the world. To break into the top 10, Bittensor would need to pass Dogecoin, which has a market cap of $15 billion.
Bittensor's TAO token slipped below the $250 mark on Thursday, recording its fourth consecutive day of losses as weakening retail interest and deteriorating market sentiment weigh on the AI-focused cryptocurrency. At the time of writing, TAO remains under pressure, with derivatives data showing a notable decline in trading activity and investor appetite. The token is now approaching a critical support zone that could determine whether prices remain above $200. Open Interest drops as traders pull back Bittensor is experiencing a decline in speculative demand, reflected in a sharp drop in futures market activity. According to CoinGlass data, TAO futures open interest (OI) fell more than 6% over the last 24 hours to approximately $252.
Nature of the change: The proposed governance code modifies the automatic liquidation of rewards into an accumulation strategy. Mobilized capital: The Bittensor network emits approximately 7,200 TAO tokens daily, valued at more than $1.8 million. Development status: The initiative remains in the testing phase within GitHub and faces technical reviews due to bottlenecks.
Manako's AI platform could revolutionize enterprise surveillance, enhancing operational efficiency and data utilization across industries. Manako introduces vision AI agent for real-time detection using Bittensor subnets.
The Bittensor token records a daily decline of 7% and is positioned at an approximate price of $268. Capital outflows from centralized trading platforms to self-custody solutions have outperformed inflows in recent weeks. Digital asset management firm Grayscale publicly noted that decentralized projects offer an alternative to centralized firms.
TAO's consolidation holds as the AI sector rotation and the liquidity supports its upside case.
Bittensor trades near $262.08 as Anthropic's model shutdown renews focus on Grayscale's decentralized AI case and $300 resistance.