The merger of blockchain technology with the prowess of AI (artificial intelligence) has paved the way for groundbreaking initiatives. Of these, Bittensor (TAO) stands out as an advanced protocol developed specifically for the advancement of machine learning models.
This dynamic synergy between blockchain and AI not only underlines their capabilities, but also ushers in a new era of collaborative innovation.
Bittensor (TAO), a cryptocurrency centered on artificial intelligence, has gained remarkable traction in the trending altcoin space. Its value has increased almost fivefold in less than 30 days, following the wave of excitement surrounding AI-focused cryptocurrencies.
AI Crypto TAO makes its presence felt
This rapid growth highlights Bittensor’s impressive presence in the current altcoin landscape and reflects the increasing interest in cryptocurrencies that use AI to reshape finance and technology.
$TAO to the top 10 is still probably the most obvious trade. Sell-side liquidity on these CEXs is minimal. No real resistance. The market cap is a joke if the whales don’t unload their bags on you.
It is now the #1 AI project and we have only seen 2% of what AI is capable of. pic.twitter.com/yWzPYurxG7
— Eric Cryptoman (@EricCryptoman) November 18, 2023
At the time of writing, TAO is valued at $265, which reflects a impressive increase of 80% in the last seven days and an impressive jump of almost 400% in the last 30 days.
Based on data from TradingView, TAOUSDT came in at a all-time high at $267 on Monday, and boasts a market cap of more than $1.27 billion.
As such, Bittensor (TAO) has surpassed Render Network (RNDR), which had been the clear leader in the market for a few months, to become the leading cryptocurrency for artificial intelligence, according to CoinGecko.
TAOUSDT trading at $267 on the 24-hour chart: TradingView.com
By integrating artificial intelligence and blockchain consensus, the Bittensor (TAO) project offers a new perspective. To create a decentralized economy, Bittensor plans to let AI models participate in blockchain consensus.
Making significant progress in the crypto space
Bittensor (TAO), an AI protocol based on open source principles, was introduced to the public on September 19, 2023 by Jacob Steeves, a former Google developer.
Source: Taostats
Over the past two months, Bittensor (TAO) has made several major announcements, including notable improvements in miner performance, the introduction of additional subnets, and major improvements in building massive language models.
Meanwhile, an overwhelming majority of companies (over 70%) view blockchain and AI as complementary technologies, highlighting the mutually beneficial relationship between the two.
TAO seven-day price action. Source: Coingecko
An intriguing new dimension to the Bittensor story has emerged with the recent crypto market boom that followed OpenAI’s AI Developer Day on November 6.
Enhanced natural language models GPT-4 and GPT-3.5 are among the new AI capabilities unveiled by OpenAI that could have an impact on AI tokens. This could be why crypto-based AI is gaining popularity.
(The content of this site should not be construed as investment advice. Investing involves risks. When you invest, your capital is subject to risk).
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