TAO outperforms other AI coins to a 5 month high
The post TAO outperforms other AI coins to a 5 month high appeared on BitcoinEthereumNews.com.
TAO surged by 90.09% over the past week, outpacing other AI coins. Bitternsor surges to a 5 months high. Throughout the year, AI coins have experienced exponential growth. This growth was especially driven by the increased adoption of AI. Amidst this market favorability, Bittensor [TAO] has emerged as the leader. Over the past year, TAO has charted a 1020.9% price growth. The month of September was particularly good for TAO, as the AI coin rose by 65.52%. In fact, as of this writing, Bittensor was trading at $567.12. This marked a 90.09% increase over the past week. Bittensor outpaces other AI coins Other AI coins have made a modest surge compared to TAO. While Bittensor price has increased by 90% on weekly charts, Near Protocol [NEAR] surged by just 19.94%. At the same time, the Artificial Superintelligence Alliance [FET] rose by 28.41%. Additionally, Render has made significant gains soaring by 23.2%. Finally, Injective [INJ] has risen by 20%. This shows that although markets for AI coins has seen increased adoption, TAO saw most gains. What next? According to AMBCrypto’s analysis, Bitternsor is experiencing a strong upward momentum. Since the wedge upside breakout, it has surged by 40.33%. Therefore, the prevailing market conditions positions TAO for further gains on price charts. Source: Coinglass For example, Bitternsor’s futures open interest has surged from $61.5 million to $114.06 million. This increase shows that investors are opening new positions suggesting the crypto is growing with increased capital flowing. The recent price increase was accompanied by higher signals and a strong bullish sentiment. Source: Coinglass Additionally, liquidation for short positions has hit a record high. At press time, TAO short position liquidation was at a yearly high reaching $1.45 million. Equally, long positions liquidation over the past week has hit a record low of $139k…
Filed under: News - @ September 23, 2024 12:24 pm