Key Insights:
Bittensor dropped by almost one-fifth as Covenant AI pulled out of the network and sold TAO tokens.
Sam Dare charged Jacob Steeves with centralized control, terming governance to be a decentralization theatre.
Analysts attribute the Bittensor price crash to panic selling and a massive subnet exit, but others consider the fall a short-term shock.
Bittensor’s native token, TAO, sharply corrected on April 10, falling by almost 20% in a few hours. The Bittensor price ended up erasing a major part of its recent 100% profits.
The abrupt decline followed a big player in the ecosystem, Covenant AI, declaring a total exit. Its decision caused concerns around regulation and decentralization within the network.
Covenant AI Exit Spurs Bittensor Price Decline
Covenant AI, which operated a number of high-emission subnets, including SN3, SN81, and SN39, affirmed its exit today. Its founder, Sam Dare, has accused the Bittensor founder, Jacob Steeves, of centralized cont
We współpracy z: https://www.thecoinrepublic.com/2026/04/11/bittensor-price-crashed-20-will-tao-crypto-bounce-back/
