Key Takeaways
- TAO experienced a remarkable 56% price increase over seven days, reaching an intraday peak of $293.8
- The token has gained 46% throughout March, boosted by its addition to Upbit cryptocurrency exchange
- On March 14, Grayscale’s Bittensor trust achieved SEC-reporting status
- Bittensor unveiled Covenant-72B, a massive 72-billion-parameter AI model for its network
- Ecosystem subnet tokens experienced substantial gains, with τemplar climbing 194% over the week
Bittensor (TAO) delivered one of its most impressive weekly performances in months. The cryptocurrency surged more than 56% across a seven-day period, establishing a fresh high of $293.8 on March 16.
The token began the week below the $175 mark. Currently, it trades near $275, with its market capitalization hovering around $2.6 billion.
This price appreciation isn’t simply a reflection of wider cryptocurrency market trends. Multiple project-specific developments within the Bittensor ecosystem have contributed to the upward momentum.
Grayscale’s Bittensor trust achieved SEC-reporting status on March 14. This designation requires the fund to submit regular reports to the U.S. Securities and Exchange Commission, a milestone that typically draws increased interest from institutional capital.
This development demonstrates a degree of regulatory adherence that remains uncommon in the cryptocurrency space. For numerous investors, such compliance lowers the investment risk profile.
Major AI Model Announcement Drives Momentum
The primary catalyst emerged on March 15 when Bittensor revealed plans to launch the Covenant-72B model — an advanced AI system featuring 72 billion parameters designed to operate on the Bittensor network.
This announcement positions Bittensor differently in the AI landscape. Instead of merely facilitating AI tasks from third-party developers, the platform now supports a substantial AI model running natively within its decentralized infrastructure.
Market participants responded enthusiastically, interpreting this development as evidence that Bittensor is evolving into a comprehensive AI ecosystem.
Whale activity intensified during this period, while broader interest in AI-focused cryptocurrency projects gained momentum.
Ecosystem Subnet Tokens Experience Significant Gains
The subnet ecosystem within Bittensor also demonstrated remarkable strength. Each subnet represents a distinct AI marketplace within the network. Following the Dynamic TAO (dTAO) protocol upgrade, individual subnets now operate with dedicated tokens.
τemplar dominated with an extraordinary 194% increase over seven days, currently valued at $19.3. TARGON climbed 60.3% to reach $13.25. Chutes appreciated 40.1% to $25.1, while Affine advanced 42.7% to $21.3.
These subnets operate as autonomous AI marketplaces, each specializing in distinct AI computation categories.
Additionally, TAO secured a listing on Upbit, one of South Korea’s leading cryptocurrency exchanges, in late February. This listing provided access to a substantial new demographic of retail traders.
By March 16, TAO established a new intraday record of $293.8, representing a 46% gain since the beginning of the month.
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