Bittensor’s TAO token has staged one of March’s sharper rebounds, climbing well over 100% from early-month levels and briefly pushing into the high-$300s before easing back. The move has coincided with a burst of activity across Bittensor’s “subnet” ecosystem, where separate markets coordinate decentralized AI training and compute.
What’s different this time is the nature of the validation. Industry watchers highlighted a recent reference by Nvidia CEO Jensen Huang to a Bittensor-linked training run, a rare mainstream nod for a decentralized AI network that has often traded more on narrative than on visible usage.
Bittensor’s Subnets Arrive Along With a Rare Big-Tech Nod
Bittensor’s growth is increasingly being framed around its subnets rather than TAO’s headline price.
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The number of subnets has expanded meaningfully over the past year, and a growing cohort of subnet tokens now carries a combined market value in the low single-digit billions, based on publicly tracked category data. The technical progress has been recognized by both Nvidia & Intel, two of the largest chip markers across the globe.
One subnet tied to the “Covenant-72B” training effort drew attention after Huang discussed decentralized AI training in a podcast appearance, with Bittensor community members pointing to a permissionless contributor set behind the run.
Separately, another subnet, Chutes (often tagged as SN64), has been cited in crypto circles for reaching a new revenue high, with figures circulating around roughly $22,000 per day, though those numbers are difficult to independently verify in real time.
Adding to the momentum, Manifold Labs—associated with a Bittensor-based compute platform called Targon—published a technical collaboration with Intel focused on confidential computing concepts, including the use of Intel TDX and encrypted virtual machines to secure workloads on untrusted hardware.
TAO Price Action Looks Strong, But The Mood Swing Is Unusual
On-chain and social analytics firms have noted that discussion around TAO has risen sharply, but the tone appears less euphoric than past altcoin surges. One read of sentiment ratios suggests only a modest tilt toward positive commentary despite the rally—often interpreted as a sign the trade may not be fully crowded yet.
Even so, the speed of TAO’s climb leaves it vulnerable to whipsaws. Leverage-driven markets can punish both late longs and aggressive shorts, and liquidation maps shared by data providers suggest notable short exposure could be pressured if TAO holds key levels above the low-$300s.
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