Key Highlights

  • TAO token has gained more than 15% over the past seven days, with prices ranging between $289 and $298
  • Jensen Huang of NVIDIA and investor Chamath Palihapitiya endorsed Bittensor’s approach to distributed AI model development on the All-In Podcast
  • Covenant-72B has been identified as the model discussed — a 72-billion-parameter language model representing the largest decentralized pre-training effort documented
  • Market activity intensified with trading volume reaching $677 million and open interest climbing to $361 million, marking multi-month peaks
  • Institutional momentum builds as Grayscale pursues conversion of its Bittensor Trust into a spot ETF vehicle

Bittensor (TAO) has reached price levels between $289 and $298 this week, posting gains exceeding 15% across the seven-day period. The upward movement followed significant discussion on the All-In Podcast, where NVIDIA’s chief executive Jensen Huang and prominent venture investor Chamath Palihapitiya highlighted a breakthrough achievement in distributed artificial intelligence.

Bittensor (TAO) Price
Bittensor (TAO) Price

Palihapitiya outlined how a sophisticated language model was developed entirely through distributed hardware infrastructure coordinated by independent participants. “They managed to train a 4 billion parameter LLaMA model, totally distributed, with a bunch of people contributing excess compute,” he explained, characterizing the effort as “a pretty crazy technical accomplishment.”

Subsequent verification revealed the actual model to be Covenant-72B, differing from the 4 billion parameter specification mentioned during the podcast. The Opentensor Foundation provided clarification that Covenant-72B represents a 72-billion-parameter language model developed through pre-training across more than 70 global participants utilizing conventional internet-connected hardware. The model posted a 67.1 MMLU score and received documentation in a March 2026 arXiv publication. This accomplishment establishes the benchmark as the most extensive decentralized LLM pre-training initiative recorded to date.

Huang’s commentary embraced the wider implications of decentralized artificial intelligence development. “These two things are not A or B; it’s A and B,” Huang stated. “There is no question about it.” His perspective positioned proprietary and open-source approaches as mutually reinforcing rather than opposing forces.

TAO experienced an approximate 5% increase within hours after the podcast aired, accompanied by trading volume that nearly doubled during the overnight session.

Market Activity Reaches New Heights

Data tracked by Santiment reveals that Bittensor’s trading volume achieved $677.06 million on Sunday — representing the peak level observed since November 7. Friday’s figures maintained strength at $521.92 million.

Source: Santiment

Futures open interest monitored through CoinGlass climbed to $361.15 million on Monday, advancing from $131.94 million recorded on March 4. Friday’s measurement settled at $331.95 million, continuing to hover near multi-month peak levels.

Growing Institutional Participation

Grayscale has submitted regulatory filings seeking approval to transform the Bittensor Trust into a spot ETF structure. Current trading shows the trust maintaining a premium position, which market observers interpret as evidence of expanding institutional appetite.

Bittensor has implemented Covenant-72B as a catalyst for generating demand across its decentralized computing infrastructure, while ongoing modular subnet development continues drawing attention from both retail and institutional market segments.

From a technical perspective, TAO maintains trading positions above its 50-day, 100-day, and 200-day exponential moving averages. The Relative Strength Index registers at 77, placing the asset within overbought parameters. Resistance appears near the $305.30 level, with subsequent upside targets identified at $341.10 should that threshold be surpassed.

https://twitter.com/ArdiNSC/status/2034879384750862788?s=20

Market analyst Ardi identified a right-angled broadening descending wedge pattern taking shape since October, with breakout confirmation dependent on a daily closing price exceeding $302. Under that technical scenario, projected targets range between $360 and $370.

TAO has advanced 37% during the past week and 55.66% across the previous month, though the token continues trading 61.13% beneath its historical peak of $767.68 established in April 2024.