The broader cryptocurrency market has staged an evident revival over the past 24 hours, with multiple leading digital assets well in green territory.
For instance, altcoins like Zcash (ZEC) and Dash (DASH) have pumped by 20-30% on a daily basis, while Arbitrum (ARB) and Hyperliquid (HYPE) have posted more modest gains of 5-6%. However, some, like Bittensor (TAO), have tumbled by double digits.
The Biggest Loser
TAO is the worst-performing cryptocurrency (at least in the top 100) today, with its valuation briefly sinking to $253, the lowest since mid-March. Currently, it trades at around $263 (per CoinGecko), down 20% from yesterday’s figure. Its market capitalization fell to approximately $2.5 billion, and now TAO is the 38th-largest cryptocurrency.
TAO Price, Source: CoinGecko
The price decline was likely triggered by Covenant AI’s departure from the Bittensor network. The entity is a research group focused on building decentralized AI models, best known for creating Covenant-72B.
We współpracy z: https://cryptopotato.com/bittensor-tao-collapses-20-daily-heres-what-happened/
