Bittensor's TAO Token Surges 18% Amid Institutional Advancements and ETP Launch

Bittensor’s native token TAO has recently surged by 18%, reaching a price of $490, just shy of the critical psychological barrier of $500. This impressive rise positions TAO at the forefront of daily gainers, outpacing other notable cryptocurrencies, including privacy-focused Zcash, which saw a 15% increase within the same timeframe. The surge in TAO’s price is attributed to a combination of institutional advancements and the recent announcement of the world’s first staked Bittensor Exchange Traded Product (ETP), launched by Deutsche Digital Assets and Safello. This development has generated renewed interest in digital asset investment products, further propelling TAO’s growth.
The launch of the ETP, secured by BitGo Europe and based in Liechtenstein, aims to bridge traditional finance with decentralized AI, potentially unlocking significant institutional capital in Europe that has previously been hindered by regulatory challenges. Analysts are optimistic about TAO’s price trajectory, suggesting that a sustained close above $500 could lead to a breakout towards $700, with the potential for new all-time highs. Despite the inherent volatility of the cryptocurrency market, the outlook remains bullish, particularly with the upcoming Bittensor halving and major ecosystem upgrades on the horizon.
Bittensor has now established itself as the largest AI token by market capitalization, valued at $4.69 billion. This growth comes amid a broader market uptick in AI-related projects, although the overall artificial intelligence token category has seen a slight dip of 1.2% in total market capitalization. Investor enthusiasm for Bittensor is further fueled by recent gains in AI-focused equities from major players like Nvidia and Microsoft. As whale accumulation and halving sentiment continue to build, Bittensor’s trajectory is one to watch closely in the coming months.
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