The price of Bittensor (TAO) has reached new highs, hitting $747 after Binance announced its listing of the token. This is just shy of the all-time high of $757 reached in March this year. With this strong performance, it is possible that the price could reach the $1,000 level.
Bittensor (TAO) has been one of the best performing altcoins in the market, with data from CoinGecko showing a 24-hour high of $747. This is just below the all-time high of $757.60 reached on March 7, 2024. With this strong momentum, it is possible that the price could continue to rise towards the psychological target of $1,000.
The recent surge in Bittensor’s price can be attributed to Binance listing the token on its platform. Binance is the largest crypto exchange in terms of trading volume, and this listing has brought more visibility and confidence to the AI-related token. As a result, the 24-hour trading volume for TAO has increased by over 400% to $363 million.
Bittensor (TAO) currently holds the top spot in the AI crypto market cap rankings with a market cap of over $4.5 billion. The next two biggest tokens are Render (RNDR) and The Graph (GRT) with market caps of $3.4 billion and $2.9 billion respectively. The strong narrative for AI and crypto, especially with the expected rise of Bitcoin after its halving and the increasing demand for spot Bitcoin ETFs, could push TAO’s price even higher.
Binance’s listing has also had a significant impact on TAO’s trading against BTC. The pair rose by 28% earlier in the day and is currently trading +17% against BTC. This could potentially lead to a flip higher for Bittensor.
Overall, Binance’s listing of TAO has brought more visibility and confidence to the token, potentially driving its price towards the $1,000 mark. With the strong momentum and potential for a new all-time high, it is likely that TAO will continue to attract more investors.
