⇗ Bittensor (TAO): An AI-Based Investment Boon or a Temporary Surge?

Bittensor (TAO) has generated a lot of interest recently due to its strong performance in terms of monthly gains which have exceeded 160%. Its price has risen by 16% in 24 hours, making some speculate if $800 is the next milestone for TAO. The token, designed for use in the AI market, has been greatly hyped, leaving some to question whether the price rally can be sustained. Other AI tokens, including NEAR, FET, and TAO, have also seen a surge following a sharp rise in Nvidia's stock. Despite the significant increase, TAO and FET took a substantial hit after OpenAI raised $6.6 billion. While TAO's token price was expected to grow by 20%, a $8M wallet drain attack caused TAO prices to slip by 15%. However, it made a strong comeback with an 80% weekly increase after the attack. Analysts predict TAO to reach $800 in 2024 and have confirmed it as a safe bet despite the geopolitical tension. Although recently listed on Coinbase, TAO still suffered a price drop after its listing. Simultaneously, there was an uptick in derivatives market activity for TAO, but not for favorable reasons. Despite these circumstances, some are rallying behind TAO due to its strong growth and potential for high returns within the AI market.

TAO Coin News Analytics from Wed, 07 Feb 2024 08:00:00 GMT to Wed, 09 Oct 2024 08:37:00 GMT - Rating 4 - Innovation 6 - Information 5 - Rumor -4