TLDR
- Bittensor (TAO) gained more than 56% across a seven-day period, reaching an intraday peak of $293.8
- The token has climbed 46% throughout March after Upbit exchange integration
- On March 14, Grayscale’s Bittensor trust achieved SEC-reporting status
- The Bittensor network will host Covenant-72B, a 72-billion-parameter AI model
- Ecosystem subnet tokens experienced significant rallies, with τemplar gaining 194% over seven days
Bittensor (TAO) has delivered one of its most impressive weekly performances in recent months. The digital asset advanced more than 56% during a seven-day stretch and reached a fresh peak of $293.8 on March 16.
TAO began the week below the $175 mark. The token currently changes hands near $275, bringing its market capitalization to approximately $2.6 billion.
Multiple project-specific developments have contributed to the price momentum beyond general market trends.
Grayscale’s Bittensor trust achieved SEC-reporting status on March 14. The fund now submits regular filings to the U.S. Securities and Exchange Commission, a development that typically draws interest from institutional capital.
This regulatory milestone demonstrates a level of compliance that remains uncommon among cryptocurrency projects. This development may reduce risk concerns for certain investor categories.
Covenant-72B Model Launch
March 15 brought the primary catalyst. Bittensor revealed plans to launch the Covenant-72B model — a 72-billion-parameter AI system designed to operate on the Bittensor network.
This development positions Bittensor differently in the market. The platform now features a native large-scale AI model running on-chain, expanding beyond its previous role of hosting external developer AI tasks.
Market participants responded favorably, interpreting the announcement as evidence that Bittensor is evolving into a more comprehensive AI platform.
Large-scale investors increased their holdings during this period, coinciding with broader renewed interest across AI-focused digital assets.
Subnet Tokens Surge
The Bittensor subnet ecosystem experienced substantial gains. Each subnet represents a distinct AI marketplace within the Bittensor network. Following the Dynamic TAO (dTAO) upgrade, individual subnets now operate with dedicated tokens.
τemplar delivered the strongest performance with a 194% increase over seven days, trading at $19.3. TARGON advanced 60.3% to reach $13.25. Chutes climbed 40.1% to $25.1, while Affine rose 42.7% to $21.3.
These subnets operate as independent AI markets, each specializing in particular types of AI services.
Late February saw TAO added to Upbit, a prominent South Korean trading platform. This listing provided access to a substantial new retail investor base.
By March 16, TAO established a new intraday high of $293.8, representing gains exceeding 46% since the month began.
