Bittensor price has been on a tear in the past day, jumping more than 10% to $401.58. It’s now up over 17% in the last week, and traders are buzzing about what’s behind the move.
There are two big reasons people are talking about TAO right now: institutional buying and staking, and the return of AI crypto hype.
TAO Synergies just boosted its holdings to 42,111 TAO, worth around $16.9 million at today’s price, by both buying and staking more coins. Another linked entity, xTAO, holds 41,538 TAO. Together, they now own close to 0.87% of the total supply.
Most of these tokens are staked, earning a 10% APY, which means they’re locked up and not being sold. This helps reduce selling pressure and shows that some big players see TAO as a long-term bet. Oblong also made headlines earlier this month by pledging to buy $8 million worth of TAO.
In addition, AI-related tokens got a lift on August 13, rising about 6% overall. TAO and Render led the charge after Ethereum’s rally to $4,663 sent money flowing into more volatile altcoins.
TAO’s gains were bigger than most, suggesting there’s strong demand specifically for this coin. Still, the Altcoin Season Index is at 39/100, meaning overall altcoin sentiment is not yet at full strength.
When Could TAO Price Hit $1,000?
Analyst Rand posted a chart on X asking, “When $TAO to $1,000? 👀” The chart shows TAO moving in a wide range with key levels to watch.
The main resistance is around $485–$500. That’s the wall Bittensor price has hit several times since April. If it can break through there, the next targets are $615 and $700. Clearing $700 would set the stage for a rally to $1,000.
Support on the downside is at $365–$370, and there is better buying interest at $320–$325. TAO remains bullish as long as it stays above $365 and forms progressively lower lows.
Moreover, if major buyers continue to add TAO to their treasuries and the AI token narrative continues to grow, a push to $500 could come sooner rather than later for the Bittensor price. From there, $700 and then $1,000 would be the big milestones.
Of course, Bitcoin’s price and the broader altcoin market will play a role too. But for now, TAO chart and demand suggest the bulls are in control.
Read Also: Not Altseason, We Are in Ethereum Season – Here’s Why!
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
