Bittensor (TAO) Rallies 15% After Nvidia CEO Endorses Decentralized AI Training Model

Key Highlights

• TAO token has climbed more than 15% this week, with prices hovering between $289 and $298
• Jensen Huang, CEO of NVIDIA, and investor Chamath Palihapitiya endorsed Bittensor’s distributed AI training approach during the All-In Podcast
• Covenant-72B, a 72-billion-parameter language model, represents the largest decentralized pre-training initiative ever documented
• Daily trading volume surged to $677 million while open interest climbed to $361 million, marking multi-month peaks
• Grayscale’s move to transform the Bittensor Trust into a spot ETF signals rising institutional appetite

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Bittensor (TAO) has seen its price climb to the $289–$298 range this week, registering gains exceeding 15% across a seven-day period. The upward momentum followed significant commentary on the All-In Podcast, where NVIDIA’s CEO Jensen Huang alongside venture investor Chamath Palihapitiya acknowledged a breakthrough achievement in distributed artificial intelligence.

Bittensor (TAO) Price

The actual model referenced has been identified as Covenant-72B, rather than the 4 billion parameter version mentioned in the discussion. The Opentensor Foundation verified that Covenant-72B is a 72-billion-parameter language model pre-trained using contributions from over 70 global participants utilizing conventional internet-connected hardware. The model posted a 67.1 MMLU benchmark score and its methodology is detailed in a March 2026 arXiv publication. This represents the most extensive decentralized LLM pre-training effort ever recorded.

TAO appreciated roughly 5% within hours of the podcast airing, accompanied by trading volume that nearly doubled overnight.

Market Activity and Derivatives Interest Spike

Blockchain analytics from Santiment indicate Bittensor’s daily trading volume peaked at $677.06 million on Sunday — the strongest showing since November 7. By Friday, volume maintained elevated levels at $521.92 million.

Source: Santiment

Futures open interest monitored by CoinGlass advanced to $361.15 million on Monday, climbing from $131.94 million recorded on March 4. Friday’s reading stood at $331.95 million, also near recent highs.

Growing Institutional Participation

Grayscale has submitted regulatory filings to restructure the Bittensor Trust into a spot exchange-traded fund. The trust currently trades at a premium valuation, which market observers interpret as evidence of strengthening institutional demand.

Bittensor has simultaneously activated Covenant-72B to stimulate utilization of its distributed computing infrastructure, while ongoing modular subnet development continues attracting both individual and institutional participants.

From a technical perspective, TAO trades above its 50-day, 100-day, and 200-day exponential moving averages. The Relative Strength Index registers 77, indicating overbought conditions. Immediate resistance appears near $305.30, with subsequent targets at $341.10 upon clearing that threshold.

https://twitter.com/ArdiNSC/status/2034879384750862788?s=20

Technical analyst Ardi identified a right-angled broadening descending wedge formation developing since October, with breakout confirmation requiring a daily close exceeding $302. Under that scenario, projected targets extend to the $360–$370 zone.

TAO has advanced 37% during the past week and 55.66% over the previous month, though it remains 61.13% beneath its all-time peak of $767.68 established in April 2024.

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