Quick Overview
- TAO token has gained more than 15% this week, with prices ranging between $289 and $298
- Jensen Huang, CEO of NVIDIA, and venture investor Chamath Palihapitiya discussed Bittensor’s distributed AI training approach on the All-In Podcast
- Covenant-72B, a 72-billion-parameter language model, represents the largest decentralized pre-training effort ever documented
- Daily trading volume surged to $677 million while open interest climbed to $361 million, marking multi-month peaks
- Grayscale’s filing to transform the Bittensor Trust into a spot ETF signals increasing institutional appetite
Bittensor (TAO) has climbed to the $289–$298 range this week, marking a weekly gain exceeding 15%. The price movement followed a notable discussion on the All-In Podcast featuring NVIDIA’s Jensen Huang and investor Chamath Palihapitiya, who highlighted a significant achievement in distributed artificial intelligence.
During the podcast, Palihapitiya outlined how a sophisticated language model was successfully trained using distributed computing resources from independent participants worldwide. “They successfully trained a 4 billion parameter LLaMA model through distributed means, with multiple contributors providing spare computational power,” he stated, describing it as “an impressive technical achievement.”
Subsequent clarification revealed the actual model is Covenant-72B, far exceeding the 4 billion parameter estimate mentioned on air. The Opentensor Foundation verified that Covenant-72B contains 72 billion parameters and was pre-trained through collaboration among over 70 worldwide contributors utilizing conventional internet infrastructure. The model posted a 67.1 MMLU score and is detailed in an arXiv publication from March 2026. This represents the most extensive decentralized LLM pre-training effort ever recorded.
Huang offered encouraging remarks about distributed AI’s future prospects. “These approaches aren’t mutually exclusive; they’re complementary,” Huang explained. “That’s undeniable.” He positioned proprietary and open-source frameworks as synergistic rather than adversarial.
TAO experienced a nearly 5% uptick within hours of the podcast airing, accompanied by trading volume that approximately doubled overnight.
Volume and Open Interest Experience Major Uptick
Data from Santiment reveals Bittensor’s trading volume peaked at $677.06 million on Sunday — the strongest performance since November 7. Friday’s volume maintained elevation at $521.92 million.
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Futures open interest tracked through CoinGlass climbed to $361.15 million Monday, advancing from $131.94 million on March 4. Friday’s reading stood at $331.95 million, also approaching multi-month peaks.
Growing Institutional Participation
Grayscale has submitted documentation to transition the Bittensor Trust into a spot exchange-traded fund. The trust currently commands a premium valuation, which market observers interpret as evidence of strengthening institutional interest.
Bittensor has implemented Covenant-72B to stimulate demand across its distributed computing infrastructure, while ongoing modular subnet development continues attracting both individual and institutional participants.
From a technical perspective, TAO maintains positions above its 50-day, 100-day, and 200-day exponential moving averages. The Relative Strength Index registers 77, indicating overbought conditions. Immediate resistance appears near $305.30, with subsequent targets around $341.10 upon breakthrough.
Analyst Ardi identified a right-angled broadening descending wedge pattern developing since October, noting a confirmed breakout necessitates a daily closure above $302. Under this scenario, the subsequent target zone reaches $360–$370.
TAO has advanced 37% during the past week and 55.66% over the trailing month, though it remains 61.13% beneath its April 2024 all-time high of $767.68.
