Bittensor token TAO price plummeted 27%, losing nearly $900 million in market value within 12 hours

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ME News Report, April 10 (UTC+8), Bittensor token TAO plummeted 27% in the past 12 hours, with a market cap evaporating nearly $900 million. At the same time, $9 million worth of TAO long positions were liquidated. The crash occurred after the main project in the TAO ecosystem, Covenant AI, announced its exit from Bittensor, reportedly selling 37k TAO tokens worth over $10 million. The Covenant AI team accused Bittensor founder of operating a “decentralized theater” lie and of actually controlling multiple aspects of the protocol. (Source: MLion)

TAO-3.43%
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