Bittensor, or TAO, is currently trading around $360 as of April 27. The move comes after a strong few weeks, where the token has rallied over 113% from its recent lows of $167.44. While the broader altcoin market has shown some life, TAO has been one of the few names to consistently lead in strength compared to other majors like Solana and Avalanche.
Bittensor is a decentralized machine learning network that rewards contributors with TAO tokens. Instead of keeping AI development locked inside big tech companies, Bittensor opens it up to the world. Anyone can contribute models or data to the network, and the most valuable ones get rewarded based on their performance. In a market that's hunting for real narratives that can stick, the fusion of AI and decentralization gives Bittensor a unique edge compared to most altcoins that are just riding the broader crypto sentiment.
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As of now, TAO has a market cap of around $3.121 billion, with a circulating supply of 8.68 million tokens. The maximum supply is capped at 20.99 million, meaning only about 41.33% of the total supply is currently in circulation. This relatively low circulation percentage matters because it creates a tighter supply dynamic, especially if demand continues to grow. Over time, the remaining supply will be released through a series of halvings.
The first halving event for TAO is scheduled to take place on Jan. 5, A halving means that the amount of new TAO issued as rewards to participants on the network will be cut in half. This reduces the inflation rate and historically, in other proof-of-work or issuance-based tokens like Bitcoin, halvings have often led to supply shocks that can drive prices higher if demand holds steady or increases. TAO is set to undergo a total of 12 halving events, with the final one expected in the year 2069, when all of the supply will be fully released into circulation.
Key Levels and Why TAO Stands Out
If we do see some retracement, there are a couple of important levels to watch. The first key support sits at $301.51, which is the current weekly low. This area has shown buyers stepping in already, and a retest of it would not be surprising given how volatile the market still is. A clean bounce off $301.51 would be a sign that the structure remains healthy.
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Below that, $257.04 stands out as the next major level. This was an important resistance zone on the weekly chart that previously caused price to roll over and make a lower low. Since then, TAO has flipped it, broke above it with conviction, and established it as new support. If TAO sees a deeper correction, $257.04 would be the zone where a lot of interest could show up again.
In terms of overall structure, TAO is one of the few altcoins that is acting how you want to see leaders act during volatility. It has made higher lows, broken key resistance levels, and continues to defend those breaks even when the market dips. That behavior usually separates future outperformers from the coins that just move when everything else moves.
This does not mean it will be immune to broader market swings. If Bitcoin loses major levels, TAO could still retrace along with the rest of the market.
As volatility picks up, it is less about chasing what is green and more about finding the names that are showing true relative strength. TAO has been doing exactly that, and whether you are actively trading or just keeping tabs on market leadership, it is a name to keep a close eye on.
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