- Bittensor’s native token TAO rose 18% to $490.
- The altcoin outperformed other top gainers amid a broader market upswing in AI-related projects.
- Bulls are targeting a breakout above $500.
Bittensor’s TAO token saw a strong rally, jumping into double-digit gains and trading just below the psychological $500 level.
At the time of writing, TAO reached an intraday high of $490.
The move put TAO near the top of the daily winners list, even outpacing privacy-focused coins such as Zcash, which climbed about 15% over 24 hours.
ETP Hype and AI Momentum Drive Bittensor Price
The most recent catalyst behind TAO’s surge ties directly to institutional developments.
Analysts continue to debate whether the decentralized AI project could become the “Nvidia of crypto,” a topic examined further below.
Part of the recent gains followed the announcement of the world’s first live Bittensor Exchange Traded Product (ETP) on October 29.
German Digital Assets and Safello launched the ETP, which went live as interest in digital-asset investment products reignited.
Bittensor’s expanding network and the ETP launch appear to have arrived at an opportune time for the project, helping drive TAO’s price up.
The product, backed by BitGo Europe and domiciled in Liechtenstein, links traditional finance with decentralized AI and could unlock billions in European institutional capital that had previously been held back by regulatory barriers.
What’s Next for the TAO Price?
Outlook for TAO is largely bullish, despite the short-term headwinds from crypto volatility and broader macroeconomic pressures.
A sustained daily close above $500 could catalyze a move toward $700.
That target corresponds to December 2024 highs; beyond that, bulls would likely aim for a new all-time high.
In March 2024, TAO’s all-time high reached $767.
Crypto analyst Dread Bongo shared a positive outlook for the token, noting several on-chain and ecosystem developments supporting the rally.
This top band on $TAO should act like a magnet here..
– Broken out of year long downtrend
– First ever #Bittensor Halving in 40 days
– Subnet products going live
– Major ecosystem upgrades coming
– Alpha’s bottomed out
– Huge subnet partnerships and developmentsPeople are now… pic.twitter.com/rH9hJwPGcY
— ＤＲＥＡＤ ＢＯＮＧＯ (@DreadBong0) October 31, 2025
“The Nvidia of Crypto”?
CoinGecko data show that the AI-token category saw a modest 1.2% decline in total market capitalization.
Top AI-focused cryptocurrencies such as NEAR Protocol, Internet Computer, Story, and Render recorded 2–4% gains over 24 hours.
Bittensor (TAO) outperformed the group, rising about 18% in recent days and maintaining its position as the largest AI token by market capitalization, at approximately $4.69 billion.
Bittensor’s rally has come amid renewed investor enthusiasm for artificial intelligence, fueled by strong performance in AI-focused stocks after recent announcements from Nvidia and Microsoft.
With ETP investment validating traction in Bittensor funds, continued whale accumulation and the upcoming halving event could be major catalysts to watch.