Bittensor TAO spreads blew out to 26.6% across exchanges on April 10, signaling severe liquidity fragmentation and impaired price discovery.
Covenant AI's departure raises governance questions as the TAO price falls sharply within 24 hours
Bittensor's TAO still shows a 22%-24% price gap across major exchanges, signaling fragmented liquidity, transfer frictions, and unresolved market structure issues.
The Bittensor network's native cryptocurrency TAO experienced a dramatic selloff this week following explosive allegations from a prominent subnet operator targeting the project's leadership structure.
Subnet developer Covenant AI announced its exit from Bittensor due to decentralization concerns and alleged punitive actions by the AI-focused network ecosystem co-founder, Jacob Steeves. Related Reading: Solana Price At Risk As Key Pattern Emerges – Is $52 The Next Stop?
A key Bittensor subnet developer, Covenant AI, is walking away from the network, accusing devs of “decentralization theatre”.
BitTensor's native token, TAO, has fallen more than 18% amid public fallout between a leading subnet operator and the AI network's founder.
TAO drops 30% from its weekly high, confirming fractal setups that projected deeper downside targets for the token in the past.
A high-profile departure from Bittensor has triggered a steep sell-off in the decentralized artificial intelligence network, wiping out nearly $900 million from its market capitalization in a matter of hours as internal disputes spill into public view.
Were some investors aware that such a pullback was about to happen?
THORChain will integrate Monero on its mainnet in 1 to 2 months, after passing simulation tests for the chain client developed by Boone. Bittensor ($TAO) is being developed in parallel and targets the same launch window, while Zcash ($ZEC) aims to reach mainnet by the end of April.
Bittensor is facing scrutiny after subnet developer Covenant AI exited the network due to concerns over centralized governance.