Bittensor's TAO token surged 90% this month, with its subnet tokens experiencing even greater gains, reaching a total market capitalization of $1.47 billion. Key subnet tokens like Templar and OMEGA Labs increased by over 440% within 30 days. The rally was driven by the successful launch of Covenant-72B, a decentralized AI model competing with Meta's Llama 2 70B, and recognition from NVIDIA founder Jensen Huang. Subnet tokens act as leveraged investments in TAO, with their value tied to the amount of TAO staked in each subnet's reserves.

TAO-0.96%
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