TAO token price drops 12.93% when listed on Binance
On April 11, Bittensor (TAO token) listed on the Binance exchange, but the price dropped by 12.93%, disappointing many investors.
The list price of the TAO token is 920.6 USD. Currently, the TAO token is down 12.93% and trading at $800.3.
The event attracted great attention from the community, especially TAO token holders. Before the listing, investor Somo Harry predicted that the TAO token could trade at around $620 and quickly surpass $650 in the first 24 hours. Somo Harry said that many large investors are buying large amounts of TAO tokens, so individual traders need to be careful about FOMO psychology to avoid asset losses.
According to data from CoinMarketCap,
the TAO token is trading at $708.44, up 17.26% over the past seven days. Market analysts predict the TAO token price to continue to rise and potentially exceed the ATH of $759.61 (set on March 8) in the near term.
According to Crypto Reviewing, the listing of TAO tokens on Binance creates a favorable environment for more than 170 million users to buy and sell this token. Thereby increasing trading volumes and driving the AI trend, altcoin bull run over the next few months. In addition, the Indian investor with 46K followers on Twitter - Ajay Kashyap - expressed his delight when he correctly predicted the growth of TAO token 6 months ago, raising millions of dollars after the announcement from Binance.
Bittensor is an open-source protocol that supports decentralized machine learning based on blockchain technology. The project applies AI artificial intelligence networks to machine learning models, thereby speeding up the process of collecting and processing information. Bittensor incentivizes users to provide valuable data using TAO token rewards. The project introduces the Proof of Intelligence (PoI) consensus mechanism – variants of PoW and PoS – to support financial institutions, businesses, and users to use knowledge from the platform to build accurate and effective investment strategies.
Bittensor is described by its founder Vitalik Buterin as a solution that uses incentives to encourage the best artificial intelligence trends in the cryptocurrency market. With a capitalization of more than $4.65 billion, TAO token promises strong growth potential in the future, especially after listing on Binance.
See also: What is TAO token? Bittensor open source protocol
