On October 7, Bittensor (TAO) and other AI-based tokens surged, with TAO rising 16% in the last 24 hours to trade at $637.
It is now 7.5% higher than its price a week ago and has increased an impressive 164% over the past 30 days.
Data from Cointelegraph Markets Pro and TradingView indicate that Bittensor’s recovery began on September 7, climbing 207% from a low of $220 to a six-month high of $678 on October 7—just 13% shy of its all-time high of $767 reached on April 11.
TAO’s price growth has been accompanied by a 286% increase in trading volume from September 7 to October 7, signaling heightened interest in the token.
Its market capitalization also soared from $1.7 billion to $4.7 billion during this period, making it the second largest AI-based token.
This surge comes as TAO gains prominence in Grayscale’s Decentralized AI Fund. On July 17, Grayscale announced the launch of the fund, which will derive value from native tokens of decentralized AI protocols, including Bittensor’s TAO.
