Bittensor TAO Gains 14% on Hints of Grayscale Investment Product

• Bittensor’s TAO Token Surges Over 10%: Speculation of Grayscale Trust Drives Rally.
• Crypto Speculation: Unconfirmed Grayscale Rumor Fuels TAO’s Bullish Momentum.
• Technical Analysis Suggests Further Gains for TAO Amidst Investor Optimism.

Bittensor, a decentralized AI platform, has witnessed a remarkable price surge in its native token, TAO, which has climbed by over 10% in the past 24 hours. This significant uptick has positioned TAO as the top gainer, according to CoinMarketcap data. As of press time, the price of TAO stood at $483.10, marking a 14% increase from the intra-day low and 21% in the last week.

Concurrently, TAO’s market capitalization and 24-hour trading volume surged by 11.93% and 38.94%, respectively to $3,304,321,962 and $85,982,888. 

TAO/USD 24-hour price chart (source: CoinMarketCap)

The increase in TAO’s market capitalization is attributed to unconfirmed reports that Grayscale, a leading digital asset manager, is planning to launch a new trust associated with the TAO token. Although such rumors are still speculative, no current filings with the Securities and Exchange Commission (SEC) to support them, they have attracted a lo…

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