Bittensor’s TAO Flips ICP to Become Second Largest AI Coin Amid Market Shift

News.bitcoin.comPublished on 2024-09-30Last updated on 2024-09-30

According to the latest market trends, the artificial intelligence (AI) coin bittensor (TAO) has overtaken internet computer (ICP), now sitting as the second largest AI-focused coin, just below near protocol (NEAR).

TAO’s 5.7% 24-Hour Jump Pushes it Ahead of ICP in AI Coin Market

Kicking off the week, despite a general market slump, bittensor (TAO) saw a 5.7% increase in the past 24 hours. Over the last month, TAO has climbed 109.6% against the U.S. dollar. As of today, TAO’s trading range is between $540 and $604 per token, bringing its market valuation to $4.436 billion. This rise edged TAO past internet computer (ICP), which had a market cap of $4.364 billion as of Monday, Sept. 30, at 11 a.m. Eastern Time.

Bittensor’s TAO Flips ICP to Become Second Largest AI Coin Amid Market Shift
Top five AI coins by market cap.

Bittensor, in a nutshell, is a decentralized blockchain network aimed at creating a global marketplace for AI and machine learning models. The white paper says it strives to democratize AI development, promote open collaboration, and move away from corporate AI monopolies. The platform enables peer-to-peer training, sharing, and trading of AI models.

Bittensor’s TAO Flips ICP to Become Second Largest AI Coin Amid Market Shift

The token TAO is the native crypto asset powering the Bittensor network and serves a variety of purposes within the system. It’s used for rewards, staking, governance, fees, and access to services. Miners and validators earn TAO for their efforts, while token holders can engage in network governance and delegate their tokens for additional rewards.

Bittensor’s main goal is to encourage decentralized machine intelligence by transforming machine learning models into tradable assets. The network has a fixed supply of 21 million TAO tokens, and its emission model mirrors that of Bitcoin. Just 238 days ago, TAO traded at $422, marking a 40.75% gain since then. In mid-May 2023, TAO hit an all-time low of $30.83, and since then, it’s surged by 1,820%. However, TAO remains 21.8% below its peak price of $757 per coin, which it reached on March 7, 2024.

What do you think about bittensor becoming the second-largest market cap in the AI sector? Share your thoughts and opinions about this subject in the comments section below.

Related Reads

Eric Trump Sets A “Beyond Catastrophic” Bar To Sell Bitcoin — How Far Are We From That?

Eric Trump, Chief Strategy Officer of American Bitcoin Corp., has declared that the company would only sell its Bitcoin holdings under circumstances he describes as "beyond catastrophic." In an interview, he framed this as a strategic commitment to permanent accumulation, driven by the goal of increasing "satoshis per share" and competing in both the race for the largest Bitcoin holdings and the lowest acquisition cost. The company mines its Bitcoin at a claimed 53% below spot price and retains all coins, drawing a distinction from Michael Saylor's MicroStrategy, which has signaled some flexibility. Trump's stance sets a new benchmark for long-term commitment in the Bitcoin treasury sector. As of the report, Bitcoin trades near $82,000, with American Bitcoin's treasury holding over 7,000 BTC.

bitcoinist16m ago

Eric Trump Sets A “Beyond Catastrophic” Bar To Sell Bitcoin — How Far Are We From That?

bitcoinist16m ago

DeFi Has Reached Its Most Dangerous Moment: The Real Vulnerabilities Are Not in the Code

DeFi in Peril: The Real Vulnerability Isn't in the Code April 2026 marked a paradigm shift in DeFi security, with over $625 million lost across 30 incidents—the worst month in crypto history by event count. Crucially, none of the major exploits (Drift Protocol: $285M, KelpDAO: $292M, Wasabi Protocol: $4.5M) resulted from smart contract vulnerabilities. Instead, failures occurred in the operational "plumbing": social engineering to compromise multi-signature councils, a single-point-of-failure 1-of-1 bridge validator, and stolen admin private keys. These events expose a fundamental misalignment: the industry's security model has long focused on code audits, while the actual attack surface has shifted to privileged access points and off-chain infrastructure. The article introduces the term "OpenFi" to describe this reality: permissionless, on-chain, yet operationally dependent on trusted third parties (admins, validators, oracles) at key junctures. The KelpDAO exploit vividly demonstrated asymmetric "contagion risk." A configuration error in a smaller protocol triggered a panic, causing approximately $13.2 billion in outflows from larger, unaffected protocols like Aave within 48 hours, as users fled uncertain collateral. The core dilemma is the double-edged sword of centralization. Operational levers like emergency councils (e.g., Arbitrum freezing stolen funds post-KelpDAO) enable crisis response but also create catastrophic attack surfaces if compromised (e.g., Drift). The path forward demands radical honesty: protocols must clearly disclose their trust assumptions, operational levers, and failure modes. The industry must treat operational security (key management, configurations, incident response) with the same rigor as code security. Survival depends on building systems whose risks can be understood, priced, and insured, moving beyond the outdated "code is law" mantra to a mature model of disclosed and managed trust.

链捕手1h ago

DeFi Has Reached Its Most Dangerous Moment: The Real Vulnerabilities Are Not in the Code

链捕手1h ago

Vitalik's Article Emphasizes Ethereum Must Be 'Amazing', But Foundation Is Not the Center

Vitalik Buterin has published a lengthy response to recent community criticism directed at the Ethereum Foundation (EF). Acknowledging a sense of "unease," he addresses concerns about the EF's strategic direction, its perceived disconnect from ETH's price performance, and calls for its reduced central role. Vitalik rejects the notion that the EF should be the central governing body of Ethereum, framing it instead as one "node with a clear mandate" among many within the ecosystem. He highlights the EF's limited ETH holdings (≈0.16% of supply) compared to other blockchain foundations and states it will no longer sell significant amounts of ETH. Its future focus will be on long-term, critical projects that align with Ethereum's core values of censorship-resistance and decentralization, which might not otherwise happen. A core argument is that Ethereum must be "amazing," but not by merely chasing higher transaction speeds at the cost of decentralization. He proposes focusing on the "CROPS" dimensions: creating a Cryptographically provable, Reliable, Open, Private, and Secure network. This includes pursuing goals like a formally verifiable, bug-free Ethereum client and minimizing protocol-level reliance on intermediaries. The article concludes by noting that while Vitalik clarifies the EF's refocused role, he does not directly address community suggestions for creating a new organization explicitly aligned with ETH's economic interests. This "alignment gap" is presented as a key challenge for Ethereum's future.

链捕手1h ago

Vitalik's Article Emphasizes Ethereum Must Be 'Amazing', But Foundation Is Not the Center

链捕手1h ago

Galxe: How a Quest Platform Evolved into Web3's Growth Infrastructure

Galxe, once perceived as a simple Web3 quest platform, has evolved into a core growth infrastructure within the Web3 ecosystem. It addresses a fundamental Web3 growth dilemma: the lack of a mature, systematic user acquisition and retention system akin to Web2's advertising and analytics platforms. While users complete quests (social tasks, on-chain interactions) for rewards, Galxe's true innovation lies in transforming these fragmented, one-off actions into lasting, verifiable identity credentials. This process of *behavioral assetization* creates a persistent record of a user's activities across projects and chains. For users, their wallet accumulates a valuable history that can unlock future access and rewards, fostering a "profile-building" mentality. For projects, Galxe provides a pre-screened user pool with rich behavioral data, enabling targeted outreach to users based on their specific on-chain history and community engagement. Galxe employs a gamefied growth path, guiding users from low-friction social tasks into deeper, valuable on-chain interactions through a structured progression of quests. This solves the incentive-behavior mismatch common in Web3, filtering users by their willingness to engage. Beyond quests, products like Passport (identity verification) and Starboard (community analytics) position Galxe as a comprehensive growth operating system. The platform's defensible advantage is its self-reinforcing data and network flywheel: more projects attract more users, enriching behavioral data; richer data enables better user targeting, attracting more projects. Ultimately, Galxe is shifting Web3's growth logic from short-term "reward-driven" traffic towards a long-term "identity-driven" relationship model, where a user's accumulated on-chain履历 becomes a core asset.

marsbit1h ago

Galxe: How a Quest Platform Evolved into Web3's Growth Infrastructure

marsbit1h ago

BTC Market Pulse: Week 22

Bitcoin's price weakened in Week 22, falling from $79K to around $74K before a partial recovery, with momentum down 21.7%. While selling pressure appeared to ease based on CVD metrics, overall market activity cooled as spot volume and futures open interest declined, signaling reduced speculation and a more cautious backdrop. Contrasting signals emerged. A 135.4% surge in long-side funding payments pointed to strong demand for bullish bets. Meanwhile, options skew shifted slightly, indicating greater demand for downside protection. In TradFi, US Spot ETF netflows improved 28.9%, though trade volume fell sharply. On-chain data showed minor dips in active addresses and transfer volume, hinting at a consolidation phase. Liquidity metrics suggested a more stable market with higher conviction. However, profitability ratios flagged increased market stress, with a notable rise in loss realization versus profit-taking. In summary, the market displayed signs of moderation and consolidation, characterized by reduced activity, cautious sentiment, and a mixed picture of risk appetite.

insights.glassnode1h ago

BTC Market Pulse: Week 22

insights.glassnode1h ago

Trading

Spot
Futures

Hot Articles

How to Buy ICP

Welcome to HTX.com! We've made purchasing Internet Computer (ICP) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy Internet Computer (ICP) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your Internet Computer (ICP)After purchasing your Internet Computer (ICP), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade Internet Computer (ICP)Easily trade Internet Computer (ICP) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

3.5k Total ViewsPublished 2024.03.29Updated 2025.04.02

How to Buy ICP

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of ICP (ICP) are presented below.

活动图片

Top Questions