Bittensor emerges as top gainer with rising development activity

2 Min Read

Bittensor (TAO) has emerged as the highest gainer among the many high 100 cryptocurrencies because the platform’s growth exercise hikes. 

TAO is up by 18% prior to now 24 hours and is buying and selling at $260 on the time of writing. The asset’s market cap surged to $1.59 billion, making it the Fiftieth-largest crypto out there. Bittensor’s day by day buying and selling quantity, nonetheless, is far decrease in comparison with its market worth — at present hovering across the $11 million mark. 

Bittensor emerges as top gainer with rising development activity - 1
TAO worth, RSI, social quantity and growth exercise – Jan. 17 | Supply: Santiment

Final month, TAO reached an all-time excessive of $392 because the main 5 AI tokens recorded huge rallies in 2023.

In line with information offered by Santiment, TAO’s growth exercise elevated by 37% over the previous day. The surge comes for the primary time since Dec. 22, 2023, when the asset was buying and selling at round $300.

Knowledge reveals that Bittensor’s social exercise has additionally heightened with the value surge. Per Santiment, the social quantity of the asset recorded a 67% rally prior to now 24 hours. 

However, the TAO Relative Power Index (RSI) suggests elevated warmth across the asset. In line with the market intelligence platform, Bittensor’s RSI rose from 36 to 50 over the previous day.

Whereas the indicator remains to be beneath the essential 60 mark, the RSI nonetheless suggests the potential for a worth cooldown as a consequence of its sudden rise.

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