TAO Hits New Highs! But Hold On… It’s Not All Smooth Sailing 🚧

by
  • So, Bittensor’s doing well. Big shocker, right? But there’s still a couple of hurdles. Go figure.
  • Apparently, the market’s “excited” about TAO, so everyone’s buying. Great. We get it.

Oh, look! Bittensor [TAO] has jumped up by a modest 2.34% in the last 24 hours. How exciting! And all this came after some research decided to tell us that it *might* keep growing. Who would’ve thought?

If this continues, it could add to TAO’s impressive 48% surge in a month. 48%! Are we surprised? Not really. It’s been on a roll.

TAO is a Star… or So They Say

A research study (because we always trust those, right?) from Funstrat suggests that TAO has been doing better than Bitcoin and Ethereum. Wow, what a revelation!

Since March 2023, Bitcoin’s up 195%, and TAO’s up 169%. Not bad, right? I mean, sure, Bitcoin’s got the crown, but TAO’s not slouching around either.

Ethereum? Eh, it’s up just 2% in the last two years. Two percent. That’s like saying, “Hey, I moved an inch!”

But wait, there’s more! TAO is getting a lot of love from institutional investors, including Grayscale. Apparently, they think it’s “the next big thing.” You know, like how people thought the Segway was the future.

Oh, and get this—200,000 new users came on board recently. That’s like a flash mob showing up at your local coffee shop for no reason.

Among AI tokens, TAO is king! It’s ahead of Render [RENDER], Near Protocol [NEAR], and Artificial Superintelligence Alliance [FET]—because who doesn’t love a good rivalry? With a 140% gain, TAO’s standing tall in the AI corner. 🏆

The Market’s Having a Moment

And of course, the market is reacting. Because why wouldn’t it? Traders bought $3.11 million of TAO in the last 24 hours. That’s not pocket change!

In the derivatives market, buying activity is off the charts. We’ve got a ratio of 1.0105 in the long-to-short trade—anything above 1 means more buying than selling. Shocking, I know. Who would’ve thought people are buying something when it’s on the rise?

If this trend keeps up, we could see TAO hitting new heights. But don’t hold your breath… we’ve got hurdles ahead.

According to AMBCrypto, if TAO keeps rallying, we might see it hit $697.7. That’s the highest point it could reach, according to the Fibonacci magic trick. Let’s just hope it doesn’t fall short of that expectation. 😂

But before we get too excited, TAO faces some resistance. Yep, you heard it. There are three levels—$370.2, $425.2, and $495.3—that could slow its climb. Because of course, nothing good comes easy. 😏

But hey, if momentum keeps up and people keep buying, we might see a rally. Could be tomorrow, could be next year—who knows? Just keep an eye on it, alright?

Read More

2025-04-24 23:15