AI heavyweight Bittensor token has just listed on Binance, and as TAO price explodes +20%, in this article, discover 2 TAO ecosystem plays that could go parabolic.
Yesterday (April 11), Binance, the world’s largest exchange, listed the Bittensor (TAO) token in a major move for the ecosystem.
Bittensor is a market leader in AI, ranking first in both the Coingecko and CoinMarketCaps AI categories.
TAO has a current market cap of $4.1 billion and has seen over $400m in daily volume over the past 24 hours, with Binance accounting for around 25% of that total.
(TAOUSDT)
This volume spike clearly shows that the Binance listing TAO offers a whole new level of exposure for this promising AI project, opening it up as an investment option for all of Binances’ 170m+ users.
$TAO volume surpasses $100m in just 90 minutes on #Binance listing 🔥
Over 134,000 $TAO has been traded so far pic.twitter.com/HM4yUuTrdP
— ＤＲＥＡＤ ＢＯＮＧＯ (@DreadBong0) April 11, 2024
Another bullish aspect of this listing is the rumor that Binance waived its usual listing fees in order to list TAO.
Industry experts estimate that listing fees on Binance can be anywhere between $1-3 million, so if that is true, this is no small gesture.
Historically, new token listings on Binance can result in crazy short-term price swings so expect some volatility early on.
In the long term, one would expect TAO to continue grinding up throughout this AI-led bull run.
VanEck recently projected the Crypto AI industry to generate over $10.2 billion by 2030, which further strengthens the feeling that the AI sector is here to stay and that early pioneers such as Bittensor will continue to lead the way.
Exploring the Bittensor Ecosystem: What Are The Best TAO Beta Plays?
With all of this attention on Bittensor, now is a great time to explore the wider TAO ecosystem and highlight some altcoin plays that may represent a greater risk/reward ratio to the more risk-on market participants.
Bittensor Beta Play #1 – Gradient Protocol (GDT)
(GDTWETH)
Gradient (GDT) recently raised $4m via a Liquid Bootstrapping Pool (LBP) on FjordFoundry.
Through liquid staking, they aim to be the go-to defi hub within the TAO ecosystem, and as such, they have an extremely ambitious roadmap.
Currently, you can only buy GDT via Uniswap on the Ethereum network. If you’re bullish on Bittensor, Gradient represents a great risk/reward play with its market cap currently a mere $2.1m with a little over $100k in volume over the past 24 hours.
We're proud to announce that $GDT is now working with the one and only @gotbit_io for our market making!
GotBit is an industry leader when it comes to MM, and has worked with some of the finest names the industry has to offer; welcome to the Gradient Family! 🥳👏 pic.twitter.com/vepieUmrJv
— Gradient Proτocol | | $GDT (@Gradient_GDT) April 10, 2024
The Gradient team has just announced a partnership with GotBit to help improve volume and overall price action for the token.
This is extremely bullish for a project of this size as GotBit is an industry-leading market maker that has pumped many coins to $20m+ market caps.
Bittensor Beta Play #2 – Neural Tensor Dynamics (NTD)
(NTDWETH)
Neural Tensor Dynamic (NTD) is another Bittensor ecosystem project that aims to bring DeFi to the TAO community. It currently offers 19% APR for staking TAO on its platform, with rewards paid out in TAO.
They also plan to launch a suite of AI-powered tools, such as a no-code smart contract generator and an AI-powered market analyst, all powered by Bittensor.
Soon you will see $TAO subnet projects more powerful than ever
Strong community and high security are strengths$NTD is the leader
Go straight ahead to $5 with hate pic.twitter.com/zF5zXUSyaN
— 🕵️GEM DETECTER🕵️ (@gem_detecter) April 9, 2024
Currently, NTD is available on Uniswap using the Ethereum network, with a market cap of $20m and a 24-hour volume of $600k.
The Bottom Line: Don’t Miss Growth In Bittensor Ecosystem
DeFi on Bittensor seems to be heating up amid the project’s show of strength – and could just be the next big altcoin trend – especially as retail investors flock to the uptick in TAO price.
Even though NTD and GDT have some similarities regarding their products, these projects are in their infancy on a rapidly growing network (Bittensor), so there is no reason that both projects can’t flourish and achieve insane gains for investors as time goes by.
EXPLORE: $5 Billion Worth Of Bitcoin Shorts Will Be Liquidated If BTC Rockets Above $75,000
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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