As a seasoned crypto investor with a keen interest in decentralized projects, I’ve kept a close eye on Bittensor and its native token TAO. The recent surge in price, which saw a 13% gain in just one day and a whopping 21% increase compared to the previous week, has certainly piqued my curiosity.
The decentralized AI project Bittensor experienced a noteworthy increase of approximately 13% for its native token, TAO, within the last day. This surge may be linked to an unverified report suggesting that digital asset manager Grayscale is considering launching a new trust to follow this token.
Currently, the cost of Bittorent at the point of composition is up by 13%, reaching $483.10, representing a substantial increase of 21% in comparison to its price one week prior, as reported by CoinMarketCap.
“TAO‘s recent achievement places it at the forefront among the top 100 assets on CoinGecko, outperforming the popular Ethereum meme token, PepeCoin.”
PEpe, together with other meme cryptocurrencies such as Dogecoin and Shiba Inu, have seen significant price increases as investors eagerly anticipate the Securities and Exchange Commission’s verdict regarding the approval of an Ethereum Spot Exchange-Traded Fund (ETF).
A user named CEYBER, who runs the official Bittoric Telegram community and remains anonymous, asserts that they have obtained confirmation from reliable sources about a rumored development involving Grayscale. Nevertheless, there is no supporting documentation in SEC filings to substantiate this claim.
The grayscale trust $TAO has been confirmed by close sources. Bittensor is huge, $TAO is the asset.— CEYEBER ττ , ϙ (@EyeofCyber) May 22, 2024
As a crypto investor, if TAO‘s offering were to be accessible only to affluent investors via over-the-counter markets, similar to how the Grayscale Bitcoin Trust operated prior to its transformation into a spot Bitcoin Exchange-Traded Fund (ETF), it would probably necessitate a Regulation D filing. In March, Grayscale initiated this process by submitting an S-1 registration for the creation of a new Grayscale Bitcoin Mini Trust as a fresh spot Bitcoin investment opportunity.
As a crypto investor, I’ve noticed that neither Bittorent nor its related filings have been submitted to the Securities and Exchange Commission (SEC) up until now. In fact, my research indicates that there is no mention of “Bittensor” in any SEC documents dating back to 2001.
The latest rumor is not the only positive news for the decentralized AI project.
The Taobot, part of the Bittensor ecosystem, experienced a productive week. On Tuesday, it was unveiled that Taobot had been chosen as among the initial projects welcomed into Akash Network’s Llama 3 API beta program.
As a crypto investor excited about the latest developments in the blockchain world, I’m thrilled to share that Akash Network has recently introduced chat support for Llama 3, the newest open-source model from Meta AI. This means that users can now experiment with this advanced AI technology without even needing to create an account. What a game-changer!
As a crypto investor, I was intrigued by Meta AI’s announcement on Twitter. They invited me to try out their latest model without the need for creating an account. Best part? It was absolutely free and did not require any permissions. So, if you’re curious like me, give it a shot!
The Taobot team is now working together with the Bittoric Subnet 15 and Blockchain Insights project. Their goal is to allow users to examine blockchain information in a straightforward manner. The project intends to group blockchain data from various networks, enhancing the efficiency of intricate data inquiries.
As a researcher studying the Taobot project, I can tell you that their integration offers users the ability to carry out various types of blockchain inquiries. These inquiries range from basic transactions to intricate DeFi protocol analyses and NFT exchanges.
As the events unfold, it’s uncertain whether Grayscale will actually apply for a TAO trust, but the rumors have already given a substantial lift to Bittorent’s market value.
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2024-05-23 13:48