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#Key Insights The TAO token of Bittensor falls over 20% post-exit of Covenant AI, citing governance issues. Fears of centralization impact the sentiment of the crypto market negatively. Currently, TAO

#Key Insights The TAO token of Bittensor falls over 20% post-exit of Covenant AI, citing governance issues. Fears of centralization impact the sentiment of the crypto market negatively. Currently, TAO is testing the $250-$263 support level, which requires a recovery above $280. Price Plunge for TAO Due to Governance Issues The native coin of Bittensor named TAO fell dramatically by more than 20% to reach approximately $273. This dramatic price plunge came as a rude shock to many traders after witnessing steady gains by the token. The reason behind this selloff could be the unexpected departure of Covenant AI from the Bittensor network. Although departures happen all the time in blockchain projects, the reason why this departure became noteworthy was due to the substantial reputation that Covenant AI holds in the ecosystem. Changes in Market Sentiment Happen Quickly The news about Covenant AI being accused spread quickly throughout cryptocurrency circles, leading to a swift change in market sentiments. Investors who used to consider Bittensor a potential decentralized AI platform started rethinking the possible dangers related to governance transparency and sustainability in the long run. Apart from damaging the reputation of the project, the departure of Covenant AI also led to negative changes in terms of finances. The organization is said to have liquidated a significant number of TAOs, putting additional pressure on the already falling price of the asset. Moreover, as soon as traders saw how Covenant AI sold its tokens, they rushed to do the same to avoid losses. Thus, the market sentiment worsened quickly. The governance mechanism of Bittensor was accused of centralization and failing to distribute governance among many members of the network. Liquidity Puts Downward Pressure on TAO Price This led to massive selling by leveraged investors whose trades depended on further increases in the price. Their exits accelerated the downward trend. In other words, forced l

Key Insights The TAO token of Bittensor falls over

Who remembers what happened to Waves and Luna in 2022? They pumped hard right in the middle of Bitcoin’s bear market. And Bitcoin itself was only halfway through its downtrend. I don’t get excited at 

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Panama City, April 16, 2026 – In Q1 2026, the crypto market entered a pivotal repricing phase against a backdrop of macroeconomic uncertainty and structural industry reshuffling. As user behavior beco

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On April 17, it was announced that the live prediction market and meme coin issuance platform Pumpcade has completed a $5 million seed round financing, with participation from Jump Crypto and Foundati

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Cardano (ADA)’s price appears to be regaining bullish momentum alongside other major cryptocurrency 

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Visa has launched a validator node on the Tempo blockchain, taking a direct role in verifying and processing transactions on a network designed for real-time stablecoin payments. Visa said the node is

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Japan's Institutional Crypto Sentiment Hits New Highs in 2026 Nomura Holdings and its digital asset subsidiary Laser Digital have published their 2026 Institutional Investor Survey on Digital Asset In

Japan's Institutional Crypto Sentiment Hits New Highs in 2026
Nomura Holdings and its digital asset subsidiary Laser Digital have published their 2026 Institutional Investor Survey on Digital Asset Investment Trends, revealing a measurable shift in how Japanese institutional investors view crypto assets.
The survey, released on April 16, captures responses from 518 investment professionals across institutional investors, family offices, and public-interest organizations in Japan.

The findings point to growing confidence in digital assets as a legitimate portfolio component, with sentiment improving across nearly every metric compared to the previous survey conducted in June 2024.



Japan's Institutional Crypto Sentiment Hits New Hi

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edge soared to 1.2742 USDT, a new high with a 24-hour increase of 13.45%. It currently trades at 1.1689 USDT on HTX.

edge currently trades at 1.1689 USDT, up 13.45% in 24h, according to HTX market data.

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