The Bittensor price has surged to an intraday high of $430.4 following Coinbase’s announcement to list TAO cryptocurrency.
In an announcement issued on February 19 evening, Coinbase, one of the leading cryptocurrency exchanges, confirmed it would add support for Bittensor (TAO) on its platform, with trading set to begin on or after 9 AM PT on February 20, 2025.
“Trading will begin on or after 9AM PT on February 20 2025 if liquidity conditions are met. Once sufficient supply of this asset is established trading on our TAO-USD trading pair will launch in phases,” Coinbase wrote on X.
Replying to @CoinbaseAssets
Trading will begin on or after 9AM PT on February 20 2025 if liquidity conditions are met. Once sufficient supply of this asset is established trading on our TAO-USD trading pair will launch in phases. Support for TAO may be restricted in some supported jurisdictions.
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Bittensor price reaction
The news of the Coinbase listing acted as a catalyst for TAO’s price, which not only jumped by more than 25% to hit a new weekly high but also managed to recoup losses from previous days when the broader altcoin market mirrored Bitcoin’s struggles.
Bittensor price chart by TradingView.
Following the listing news, TAO’s trading volume also spiked by 70% to $258.75 million, a clear indicator of heightened investor interest and market activity.
The listing is a major boost for the AI token, which is currently down 33% over the past twelve months.
Analysts expect the token to experience further gains as it regains its footing amid the improved crypto perspective with the pro-crypto Trump administration in the US.
Bittensor, which launched in 2019, has been making waves in the AI-powered blockchain space, advocating for a decentralized approach to AI development.
With a market cap now at $3.46 billion, it ranks as one of the top AI tokens by market capitalization, only behind NEAR according to CoinMarketCap.
Notably Bittensor’s backing by heavyweight venture capital firms like Pantera Capital, Digital Currency Group, and Lyrik Ventures further solidifies its position in the market.
The recent release of the Dynamic TAO whitepaper hints at significant upgrades, potentially increasing its utility and appeal within the AI sector.
The listing on Coinbase is not just a testament to Bittensor’s growing stature but also a pivotal moment that could lead to further traction.
Analysts from Grayscale have noted Bittensor’s importance in promoting transparency and democratizing access to AI technology, contrasting it with centralized AI initiatives like DeepSeek, which raise concerns about data security and biases.
As TAO finds its place on more mainstream cryptocurrency exchanges, its potential to influence the AI and blockchain intersection grows.
While it currently stands at $413.03 after the surge, the community and investors alike are watching closely to see if this listing on Coinbase will propel it to new heights.
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