Bittensor's TAO spread widened to 25.2% across exchanges on April 10, signaling worsening liquidity fragmentation and a breakdown in price discovery.
Bittensor's TAO saw 21%-24% cross-exchange price gaps Friday, signaling persistent liquidity fragmentation and deepening market stress.
Bittensor's TAO saw exchange price spreads widen to 23.4% on April 10, deepening earlier market chaos and raising serious execution risks for traders.
Covenant AI's exit introduces questions around network sustainability, signaling deeper downside risks for TAO.
The Bittensor network experienced a significant blow on April 10, 2026, as its native TAO token shed more than 18% of its value within a single day. This dramatic downturn wiped out gains from a previous rally that had pushed prices up over 100%, with the catalyst being Covenant AI's decision to withdraw from the ecosystem.
Bittensor's native token TAO price saw a brutal breakdown, plunging nearly 25–27% within hours and erasing close to $900 million from its market capitalization. The sudden drop triggered a wave of liquidations, wiping out over $9 million in long positions and catching late bulls off guard after weeks of aggressive upside. The move wasn't random.
Bittensor's TAO is showing extreme exchange price gaps of 19.9% to 21.5%, signaling fragmented liquidity and worsening market structure issues.
Bittensors native TAO token suffered a sharp 18% decline within hours, wiping out gains from a recent 100% rally. The sell-off was triggered by the high-profile departure of Covenant AI, one of the largest subnet operators on the network, amid serious governance allegations against Bittensors founder.
Bittensor's TAO plunged 15.7% early Friday as exchange prices broke apart, with cross-venue spreads hitting 14.6% and anomaly alerts signaling market stress.
Covenant AI claimed Bittensor's decentralization promise is false, citing 'punitive actions' from the network's co-founder, Jacob Steeves.
Covenant AI's exit highlights the challenges of maintaining true decentralization in blockchain networks, impacting investor confidence. Covenant AI exits Bittensor over centralization concerns, TAO falls 15%.
Sector has outperformed every other bracket in crypto this month.