TLDR
- Bittensor (TAO) rallied more than 56% across a seven-day period, reaching an intraday peak of $293.8
- The token has gained 46% throughout March, boosted by its addition to the Upbit trading platform
- On March 14, Grayscale’s Bittensor investment trust obtained SEC-reporting compliance
- The network unveiled Covenant-72B, a massive 72-billion-parameter artificial intelligence model
- Ecosystem subnet tokens experienced dramatic growth, with τemplar jumping 194% over one week
Bittensor (TAO) just completed one of its most impressive weekly performances to date. The digital asset surged beyond 56% during a seven-day stretch and reached a fresh peak of $293.8 on March 16.
TAO began the trading week under the $175 mark. Currently, it’s changing hands near $275, supported by a market capitalization hovering around $2.6 billion.
This upward movement isn’t solely attributed to general cryptocurrency market trends. Multiple project-specific announcements related to Bittensor seem to be fueling this price momentum.
Grayscale’s Bittensor investment vehicle achieved SEC-reporting status on March 14. The fund is now required to submit regular filings to the United States Securities and Exchange Commission, a development that typically draws increased interest from institutional capital.
This achievement demonstrates a degree of regulatory adherence that remains uncommon among cryptocurrency initiatives. For certain market participants, this development diminishes investment risk perception.
Covenant-72B Model Launch
The primary driver emerged on March 15. Bittensor revealed plans to deploy the Covenant-72B model — a sophisticated 72-billion-parameter artificial intelligence framework designed to operate across the Bittensor infrastructure.
This advancement establishes Bittensor in a distinctive market position. Instead of merely facilitating AI workloads from third-party developers, the platform now supports a substantial proprietary AI model operating directly on-chain.
Market participants responded enthusiastically, interpreting this development as evidence that Bittensor is constructing a more comprehensive AI ecosystem.
Major holders expanded their stakes during this period, while renewed enthusiasm for AI-focused digital assets gained traction across the sector.
Subnet Tokens Surge
Bittensor’s subnet infrastructure experienced significant appreciation. Each subnet operates as an independent AI marketplace within the Bittensor framework. Following the Dynamic TAO (dTAO) system enhancement, individual subnets now feature dedicated tokens.
τemplar dominated performance metrics with a 194% weekly increase, currently valued at $19.3. TARGON climbed 60.3% to reach $13.25. Chutes appreciated 40.1% to $25.1, while Affine advanced 42.7% to $21.3.
These subnets operate as autonomous AI marketplaces, each specializing in particular artificial intelligence applications.
TAO secured a listing on Upbit, a prominent South Korean cryptocurrency exchange, during late February. This listing provided access to a substantial new cohort of retail traders.
By March 16, TAO established a fresh intraday record at $293.8, representing gains exceeding 46% from the beginning of March.
