Bittensor (TAO) has emerged as one of the market’s standout performers, swiftly reversing all losses from the recent Crypto Black Friday crash — a feat that even Bitcoin (BTC) and Ethereum (ETH) have yet to achieve.
Supported by rising trading volumes, increasing institutional exposure, and a tightening supply ahead of its first halving, TAO’s prospects appear increasingly favorable.
Sponsored
What Drives Bittensor (TAO) to Outperform the Market?
According to data from BeInCrypto Markets, most leading cryptocurrencies have traded lower over the past fortnight. In contrast, Bittensor (TAO) has bucked the trend, recording a 35.7% gain during the same period.
The cryptocurrency not only managed to recover from the October market crash but also rose to multi-month highs. Over the past day alone, the altcoin’s value has appreciated by 5.95%, bringing it to trade at $435.65.
Several factors drive TAO’s strong performance. CoinGecko data indicated that the token has maintained daily trading volumes above $400 million throughout the past week, except yesterday. On October 15, volume reached $943 million, a sign of high trader interest and activity.
TAO’s growth is further supported by its strong staking participation. Taostats data revealed that over 70% of circulating TAO is staked. This restricts the available trading supply and supports prices.
Sponsored
