Unleashing The Bull: The Astonishing 400% Rise Of An AI Crypto – Details

Christian Encila

Last Updated: November 20, 2023 9:30 am

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The merging of blockchain technology with the prowess of AI (artificial intelligence) has paved the way for groundbreaking initiatives. Among these, Bittensor (TAO) stands out as a cutting-edge protocol specifically developed for the advancement of machine learning models.

This dynamic synergy between blockchain and AI not only underscores their capabilities but also heralds a new era of collaborative innovation.

Bittensor (TAO), a cryptocurrency centered around artificial intelligence, has made notable traction in the trending altcoin space. Its value surged nearly fivefold in under 30 days, riding the wave of excitement around AI-focused cryptocurrencies.

AI Crypto TAO Makes Presence Felt

This rapid growth highlights Bittensor’s commanding presence in the current altcoin landscape and reflects the increasing interest in cryptocurrencies that leverage AI to reshape finance and technology.

$TAO to the top 10 still probably the most obvious trade. Sell side liquidity on these CEXs is minimal. No real resistance. The market cap is a meme if the whales aren’t offloading their bags on you.

It’s now the #1 AI project and we’ve 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, reflecting a commanding increase of 80% in the last seven days and an impressive leap of nearly 400% in the last 30 days.

Based on data by TradingView, TAOUSDT tallied an all-time high of $267 on Monday, and boasts a market capitalization exceeding $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 artificial intelligence cryptocurrency, 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 fresh perspective. In order to create a decentralized economy, Bittensor plans to let AI models participate in blockchain consensus.

Making Significant Strides In The Crypto Space

Bittensor (TAO), an AI protocol based on open-source principles, was introduced to the public by Jacob Steeves, a former Google developer, on September 19, 2023.

Source: Taostats

Over the past two months, Bittensor (TAO) has made several significant announcements, encompassing notable improvements in miners’ performance, the introduction of additional subnets, and important advancements in the building of huge language models, among other things.

Meanwhile, an overwhelming majority of businesses (more than 70%) see 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 narrative has emerged with the recent crypto market boom that followed OpenAI’s AI Developer Day on Nov. 6.

Enhanced GPT-4 and GPT-3.5 natural language models are among the new AI capabilities unveiled by OpenAI, which may have an effect on AI tokens. This might be the reason why crypto-based AI is gaining popularity.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Negative Space/Pexels

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.