The post Decentralized AI Platform Bittensor Gains 15% Amid Unconfirmed Grayscale Rumors appeared on BitcoinEthereumNews.com.

We do the research, you get the alpha! Get exclusive reports and access to key insights on airdrops, NFTs, and more! Subscribe now to Alpha Reports and up your game! Go to Alpha Reports Decentralized AI project Bittensor has seen its native token, TAO, gain 15% in the past day. It seems to have been helped along by an unconfirmed rumor that longstanding digital asset manager Grayscale plans to register a new trust that tracks the token. But that’s not the only recent news for the project. At the time of writing on early Thursday morning, the Bittensor price has climbed 15% in the past day to trade for $483.10. That’s a 24% gain compared to this time last week, according to CoinGecko data. That makes TAO the best performing asset in the top 100 on CoinGecko at the time of writing, beating ETH meme coin darling PepeCoin. PEPE and other meme OGs like Dogecoin and Shiba Inu, have all seen sizable gains as investors wait with bated breath to see if the Securities and Exchange Commission will approve a spot Ethereum ETF to trade. A pseudonymous Crypto Twitter user, CEYEBER—who founded the official Bittensor Community Channel on Telegram—claims to have had the Grayscale rumor “confirmed by close sources.” But if it’s real, there’s still no sign of it in Securities and Exchange Commission filings. The grayscale trust $TAO has been confirmed by close sources. Bittensor is huge, $TAO is the asset. — CEYEBER ττ , ϙ (@EyeofCyber) May 22, 2024 If the TAO offering were going to be another close-end fund available over-the-counter to wealthy investors—like the Grayscale Bitcoin Trust was before it was converted to a spot ETF and the rest of the firm’s single asset funds still are—then there would likely be a Regulation D filing. More…

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Filed under: News - @ May 24, 2024 2:20 am