Bittensor (TAO) recently experienced a significant drop of about 15% in its value, trading around $466. This decline occurred in the context of a larger market downturn, which saw several AI tokens like Render (RNDR) also falling substantially. The market instability has been attributed to profit-taking activities ahead of Bitcoin's upcoming halving event.
Bittensor, a decentralized machine learning network, had been performing well before this setback, and it is currently under scrutiny as it navigates through the aftermath of the attack and broader market volatility.