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Bittensor (TAO) Surges After Coinbase Listing Announcement

by Ouess
written by Ouess

The Bittensor price surged to $430.4, marking a 25% jump after Coinbase confirmed its listing of TAO. The announcement, made on February 19, 2025, stated that TAO trading will begin on February 20, pending liquidity conditions.

Coinbase Confirms TAO Listing

Coinbase, one of the world’s leading crypto exchanges, announced its support for Bittensor (TAO) with trading set to launch in phases. The TAO-USD trading pair will open once there is enough supply. However, the exchange noted that support may be restricted in some regions.

https://twitter.com/CoinbaseAssets/status/1892256331618189497

This development has fueled excitement among traders and renewed confidence in Bittensor’s growth.

TAO Price Reaction: 25% Jump & 70% Volume Spike

Following the Coinbase listing news, Bittensor’s price soared by 25%, reaching a new weekly high. The move helped TAO recover recent losses amid broader altcoin market struggles.

TAO USDT chart Source : TradingView

Additionally, trading volume skyrocketed by 70% to $258.75 million, indicating strong investor interest. This surge comes as the AI token remains 33% down over the past year.

Market analysts believe this newfound momentum could drive further gains, especially as the crypto-friendly Trump administration bolsters investor sentiment.

Bittensor’s Market Position & AI Focus

Launched in 2019, Bittensor is a key player in the AI-powered blockchain sector, advocating for decentralized AI development.

Bittensor marketcap Source : coinmarketcap

Key Stats:

  • Market Cap: $3.79 billion
  • Ranking: Among the top AI tokens, with NEAR
  • Venture Capital Backing: Pantera Capital, Digital Currency Group, and Lyrik Ventures

https://twitter.com/opentensor/status/1886584758249120031

The recent release of the Dynamic TAO whitepaper hints at upcoming upgrades, which could enhance TAO’s utility within the AI space.

Why the Coinbase Listing Matters

The listing on Coinbase is a significant milestone for Bittensor, signaling increased mainstream adoption. Analysts at Grayscale highlight TAO’s role in democratizing AI access, contrasting it with centralized initiatives like DeepSeek, which raise concerns over data security and bias.

As Bittensor expands its exchange listings, its influence in AI and blockchain is expected to grow.

What’s Next for TAO?

Currently trading at $413.03, investors are watching closely to see if this Coinbase listing will push TAO to new highs. With growing market confidence and institutional backing, Bittensor’s future looks promising.

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Press Release

Coinbase Adds ETHFI and TAO: Prices Surge 30% After Listing

by Ouess
written by Ouess

Coinbase has announced the addition of Ether.fi (ETHFI) and Bittensor (TAO) to its listing roadmap, fueling a surge in both token prices.

Coinbase Announces ETHFI and TAO Listings

Coinbase, the largest US-based crypto exchange, has revealed plans to list Ether.fi (ETHFI) and Bittensor (TAO). This move signals that both tokens meet Coinbase’s legal, compliance, and security standards.

ETHFI is a decentralized protocol token that offers liquid staking and restaking for Ethereum. TAO serves multiple functions in the Bittensor ecosystem, acting as both a utility token and a reward mechanism.

Coinbase confirmed the listing via a post on X (Twitter) and shared the contract addresses for both tokens.

Trader Reaction: ETHFI and TAO Prices Surge

Following the announcement, ETHFI and TAO skyrocketed by over 30% before experiencing slight corrections. This price jump aligns with the common “buy-the-rumor, sell-the-event” trend seen when major exchanges announce new listings.

For example, Base token (TOSHI) surged 70% after being added to Coinbase’s listing roadmap. A similar pattern occurs when Binance, the largest global crypto exchange, announces new listings.

Why Coinbase Listings Matter for Token Prices

Listings on top exchanges like Coinbase and Binance often trigger strong price movements due to several factors:

✅ Increased Liquidity → More traders can buy and sell the token easily.
✅ Reduced Volatility → Higher trading volume leads to price stability.
✅ Greater Accessibility → A broader investor base gains exposure.
✅ Enhanced Credibility → Coinbase’s listing process adds legitimacy to projects.

With Coinbase leading US crypto trading and Binance dominating global volume, their listing announcements play a crucial role in market movements.

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Altcoin

Bittensor (TAO) Price Surge: Will It Break Key Resistance?

by Ouess
written by Ouess

The price of Bittensor (TAO) has surged by nearly 20% in the past 24 hours, showing signs of renewed investor interest. Technical indicators now suggest a possible trend shift as TAO approaches crucial resistance levels.

Key Resistance Ahead for TAO in Ichimoku Cloud

The Ichimoku Cloud shows TAO nearing a critical resistance zone, signaling potential obstacles ahead. While the cloud’s red color indicates lingering selling pressure, it also points to strong resistance that TAO needs to break to confirm a bullish trend.

TAO Ichimoku Cloud. Source: TradingView

If TAO breaks above this cloud resistance, it could pave the way for continued gains. However, failing to do so could result in renewed selling pressure, potentially halting its current upward momentum.

TAO’s RSI Enters Overbought Territory

TAO’s Relative Strength Index (RSI) has spiked to 74.51, rising sharply from 30 within a day, reflecting increased buying activity. The RSI measures price momentum, and values over 70 typically indicate overbought conditions. This recent jump suggests a short-term correction may be due before TAO can attempt further gains.

TAO RSI. Source: TradingView

TAO Price Prediction: Correction or Continued Rally?

Currently, TAO’s Exponential Moving Averages (EMAs) reflect a bearish alignment, with long-term EMAs above the short-term ones. However, the recent price surge has narrowed this gap, hinting at a shift in momentum. If the short-term EMAs cross above the long-term ones, it could signal a bullish reversal.

TAO EMA Lines and Support and Resistance. Source: TradingView

Before that shift occurs, TAO may undergo a short-term correction, potentially testing support levels around $490 and $458. If buying momentum resumes post-correction and the short-term EMAs cross over the long-term ones, TAO could rally toward higher resistance targets at $556, $618, and $682. This potential uptrend could see TAO achieve up to a 33% upside if conditions remain favorable.

In summary, Bittensor’s recent price action indicates renewed interest and potential for growth. However, key resistance levels and potential corrections could shape TAO’s next moves.

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Altcoin

TAO Price Surge Faces Resistance: Will It Hold Above $520?

by Ouess
written by Ouess

Bittensor (TAO) had a strong run in September, with its price soaring 111%, climbing from $264 to $587. However, as October begins, technical indicators suggest that TAO might face resistance, potentially slowing down further gains.

Will TAO Struggle in “Uptober”?

Historically, October has been a bullish month for many cryptocurrencies, often referred to as “Uptober.” While there are expectations for TAO to continue its upward trend, several indicators suggest a challenging start to the month. The altcoin’s impressive rise in September was closely tied to developments in the Artificial Intelligence (AI) sector, driving significant price volatility.

TAO May Soon Be Overbought

One key indicator pointing to potential resistance is the Bollinger Bands (BB) on the daily chart. BB expansion during periods of high volatility is typical, and TAO’s price movements reflect this. The current price of $585.50 is nearing the upper band, which could indicate an overbought condition if it climbs to around $660. Once overbought, the token may face a pullback.

From an on-chain perspective, TAO’s social dominance is another critical factor to watch. This metric measures how much attention a cryptocurrency is receiving compared to others in the top 100. Currently, TAO’s social dominance is declining, signaling that investor interest may be shifting. If this trend continues, the token’s price could lose momentum and consolidate.

TAO Price Prediction: Pullback to $520?

The Relative Strength Index (RSI), which tracks momentum, shows that TAO is currently overbought, sitting above 70.00 on the daily chart. Based on this, there is a potential for a short-term price decline. Using the Fibonacci retracement indicator, TAO might drop to $520.65, with further support around $445.63 if the selling pressure continues.

However, if demand for TAO increases significantly, the altcoin could defy this expectation and rally toward $700, maintaining its strong performance into October.

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Altcoin

SUI Token Surges Over 16% Following Grayscale Trust Announcement

by Ouess
written by Ouess

The SUI token made headlines after rising over 16%, significantly outperforming the broader market. This surge follows Grayscale’s announcement of the new Grayscale Sui Trust, which has likely boosted investor confidence in the token.

Bitcoin and Tech Stocks Rally Amid U.S. Inflation Data

While Bitcoin (BTC) climbed above $58,000 during the Asian trading hours on Thursday, the surge was driven by a rally in U.S. tech stocks and gains in Asian equities. Key companies like Nvidia (NVDA) saw an 8.2% jump, while major stocks like Microsoft (MSFT) and Google (GOOGL) climbed as high as 2.13%.

However, Bitcoin ETFs in the U.S. saw a reversal with outflows amounting to $43 million after a brief two-day inflow streak. Most of this was led by Ark Invest’s ARKB product, which lost $54 million.

Meanwhile, U.S. inflation data for August came in higher than expected, fueling speculation that the Federal Reserve may cut interest rates in the coming weeks.

Grayscale Sui Trust Drives SUI Token Growth

The SUI token surge appears to be tied to Grayscale’s Sui Trust announcement. According to Grayscale’s public info, each share of the trust holds 14.95 SUI tokens, valued at $0.90 per token. Since SUI’s market value currently stands just over $1, traders may be anticipating a potential Grayscale discount.

AI Tokens See Modest Gains

In other market news, AI tokens also saw positive movement. After Bloomberg reported OpenAI’s plans to raise $6.5 billion at a valuation of $150 billion, several AI-related tokens showed gains. NEAR Protocol (NEAR) jumped 6%, while the FET token, associated with the Artificial Superintelligence Alliance, rose 9%, trading above $1.40.

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Altcoin

Bittensor Security Breach Halts Network, TAO Token Drops

by Ouess
written by Ouess

Bittensor has experienced a major security breach, leading to a halt in network operations and a significant drop in the value of its TAO token. Efforts to investigate and contain the breach are currently underway.

Detection and Immediate Response

The Bittensor team detected suspicious activity on Wednesday morning, prompting an immediate suspension of all network operations. Blockchain explorers confirmed that no new blocks were generated for over six hours, effectively putting the network in “safe mode” and blocking all transactions. This swift action aimed to prevent potential further damage.

Impact on TAO Token Value

The market responded quickly to the news, with the Bittensor (TAO) price dropping by 12%, reflecting investor concerns about the network’s security. The price fell from $281.67 to $237.32 in just 24 hours.

Investigation and Community Response

While official details are limited, early reports suggest the attack involved unauthorized access to user wallets. Security researcher ZachXBT proposed that a leak of private keys might be the root cause. Bittensor co-founder Ala Shaabana confirmed the network halt and assured users that the situation is under control, stating that the attack has been contained.

The Bittensor community on Discord is actively discussing the situation. A moderator named “Watchmaker” confirmed that the network will remain in “safe mode” for at least 24 hours while the investigation continues. As a precaution, regular software updates have been temporarily suspended until the network is fully restored and secured.

Market Impact and Token Performance

The security breach has significantly impacted the Bittensor ecosystem, particularly its native token, TAO. In the 24 hours following the incident, TAO’s price fell by more than 12%, continuing a 16.50% price decline over the past week. Amidst the chaos, the open interest of TAO surged by 16.38%, with a current valuation of $36.4 million. At the time of reporting, TAO’s price stands at $237.45, with a 24-hour trading volume of $84.8 million. The circulating supply of TAO is currently 7 million tokens.

TAO USD Hourly chart

Conclusion: Ongoing Investigation and Market Reactions

These market movements reflect the uncertainty surrounding the network’s security and the potential long-term implications of the breach. As the investigation progresses and more information becomes available, it’s likely that the market will continue to react to developments in this ongoing situation.

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Altcoin

Bittensor’s TAO Token Faces Major Correction Amidst AI Competition

by Ouess
written by Ouess

Bittensor has emerged as a standout AI project in recent months, even as Nvidia, a key player in the AI revolution, experiences a slowdown. But what is the current status of Bittensor’s TAO token?

Exceptional Performance of TAO Token

Between October 2023 and March 2024, the TAO token of the Bittensor project showed exceptional performance. Fueled by AI-related fundamentals, it gained significant investor interest, outperforming even Bitcoin.

Major Correction Phase

Since the second quarter of 2024, the TAO token has entered a major correction phase. After reaching its all-time high on April 11, 2024, TAO has retraced by about 70%. Currently ranked 54th among cryptocurrencies with a market cap of $1.9 billion, Bittensor seems to have lost some investor appeal. So, where does TAO stand technically?

Technical Analysis of TAO

The retracement has pushed Bittensor’s prices into a medium/long-term accumulation zone. With a low around $20, TAO could consolidate between the 0.618 ($300) and 0.786 ($200) Fibonacci retracement levels.

Source : TradingView

Although the major polarity level for TAO is at $400, the rational accumulation zone mentioned is suitable for planned purchases. Key levels include:

  • Confluence zone between 0.618 Fibonacci and the 7-week moving average (red).
  • Confluence zone between 0.786 Fibonacci and the January 2024 lows (green).

Recently, Bittensor has shown significant deterioration. To regain positive momentum, it must break above $400. Conversely, a close below the January 2024 lows would shift the trend to a bearish one.

Competitive Pressure in the AI Crypto Market

TAO operates within the AI narrative, a sector that has seen a surge in new crypto projects recently. Notably, Singularity, Fetch.ai, and Ocean Protocol, established AI projects, announced a merger in March 2024 to leverage their strengths and enhance competitiveness. This merger is expected to create a new token, ASI.

Source : TradingView

This announcement has impacted Bittensor’s price, causing significant capital transfers away from TAO. The TAO/FET ratio has been flat for weeks, indicating a competitive struggle. The winner could become the leading AI narrative in the crypto market.

Conclusion

In summary, Bittensor’s TAO token is facing challenges. Its relative strength in the ecosystem has waned amidst fierce competition. Nevertheless, TAO remains in an upward long-term trend and within a rational accumulation zone. Active investors should wait for stronger signals before committing capital.

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