Strong Market Performance:
Bittensor (TAO) surged 106.8% in the last 30 days, reaching $649 and a market cap of $4.79 billion.
Nvidia's Influence on AI Tokens:
Nvidia’s 15.4% stock rally boosted AI-related cryptocurrencies, pushing the total AI-crypto market cap to $29.8 billion.
Institutional Adoption:
Grayscale launched a TAO-focused fund with $4.9 million AUM, increasing TAO’s allocation from 2% to 31%, driving investor confidence.
Rising Futures Market Demand:
TAO’s open interest hit a record $220 million on October 14, up from $46.8 million in September.
Increased On-Chain Activity:
Active accounts grew from 127,000 to 134,000 in a month, with total staked TAO surpassing 5.9 million tokens.
Analysts’ Outlook:
With strong institutional backing, market momentum, and increased adoption, TAO’s rally is expected to continue.
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