- Bitensor’s native token TAO surged 18% to $490.
- Altcoins outperformed other top gainers amid a broad market rally in AI-related projects.
- Bulls are eyeing a breakout above $500.
Bitensor’s TAO token has experienced a sharp rally, rising double digits and hovering just below the $500 psychological barrier.
TAO price had reached an intraday high of $490 at the time of writing.
This move propelled TAO to the top of the list of daily gainers, surpassing even privacy-focused coins like Zcash, which rose 15% in 24 hours.
ETP hype and AI traction supports Bittensor price
The latest catalyst for TAO’s rise can be traced directly back to institutional progress.
Especially as analysts continue to ponder whether decentralized AI projects have the potential to flourish as the Nvidia of cryptocurrencies. More on this later.
TAO’s latest gains come after the launch of the world’s first staking Bittensor Exchange Traded Product (ETP) on October 29th.
Deutsche Digital Assets and Safello have launched an ETP that goes live as hype for new digital asset investment products resurfaces.
Bittensor’s network expansion and ETP deployment seem to have come at just the right time for the project, resulting in an increase in TAO’s price.
The product, secured by BitGo Europe and headquartered in Liechtenstein, bridges traditional finance and decentralized AI, potentially unlocking billions of dollars in European institutional capital previously held back by regulatory hurdles.
What will be the price of TAO?
TAO’s price outlook is generally bullish. This is despite being cushioned by crypto’s inherent volatility and macroeconomic headwinds in the short term.
If the closing price continues above $500, a breakout to $700 is possible.
These are the highs seen in December 2024, above which bulls will be aiming for new all-time highs.
In March 2024, the bull market reached an all-time high of $767.
Crypto analyst Dred Bongo shared this outlook on the token.
This top band $TAO It should work like a magnet here.
– Breaking out of a year-long downward trend
– First ever #bitensor Halved in 40 days
– Subnet product goes live
– Massive ecosystem upgrades coming soon
– Alpha has hit rock bottom.
– Large subnet partnerships and developmentPeople are now… pic.twitter.com/rH9hJwPGcY
— DreadBong0 (@DreadBong0) October 31, 2025
NVIDIA of cryptocurrency?
According to data from CoinGecko, the artificial intelligence token category was slightly lower, with market capitalization decreasing by 1.2%.
Major AI-related cryptocurrencies such as NEAR Protocol, Internet Computer, Story, and Render recorded gains of 2-4% in 24 hours.
However, Bittensor (TAO) outperformed the group, surging 18% in the past day and retaining its position as the largest AI token with a market cap of $4.69 billion.
Bitensor’s rise comes amid renewed investor enthusiasm for artificial intelligence, fueled by a rally in AI-focused stocks following recent developments in Nvidia and Microsoft.
However, the whale accumulation and halving of sentiment could be the big catalyst to watch as investments in Bittensall funds further demonstrate traction.