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Artificial intelligence and data · Watchlist
TAO — Bittensor
A network in which AI models compete against one another and the best are paid for it.
What it is for
- Set out to
- An open network in which independent subnets deliver computing power, model outputs, storage and predictions.
- Today in addition
- dTAO with its own alpha token per subnet, bridged issuance on Base.
- Notable
- Rewards follow the validators’ ongoing assessment of performance, not the size of the stake.
- Strength
- Many subnets working in parallel.
- Weakness
- The quality of the assessment is hard to check from outside.
Contract address
Bittensor — its own chain, no contract.
The asset is the currency of its own chain and does not sit as a token on someone else’s. An empty field here would stand for a missing figure — but nothing is missing.
Score
39of 93
Market capitalization
$2.47Bas stored
against Bitcoin, 90 days
—not against the dollar
CoinMarketCap
#22974numeric identifier
This asset is not in the sector barometer.
The four cycles
Measured on daily closing prices, never on daily highs or lows. The cycle boundaries are Bitcoin’s own highest and lowest daily closes: January 14, 2015, December 16, 2017, December 15, 2018, November 8, 2021, November 21, 2022, October 6, 2025 and the current low on June 30, 2026. A day counts only if at least ten thousand dollars were traded on it. The price against Bitcoin is given in satoshi — one satoshi is one hundred-millionth of a bitcoin.
| Cycle | Lowest daily close | Highest daily close | Rise low → high | Fall high → low |
|---|
| 2015 to 2017January 14, 2015 to December 16, 2017 | did not yet exist |
| 2018 to 2021December 15, 2018 to November 8, 2021 | did not yet exist |
| 2022 to 2025November 21, 2022 to October 6, 2025 | $183.34†233,940 satApril 6, 2025 | $713.87†705,575 satDecember 8, 2024 | in dollars +$282.25 (+153.9%)against Bitcoin +78.1%from $183.34 on April 6, 2025 to $465.59 on May 22, 2025 | in dollars -$530.53 (-74.3%)against Bitcoin -66.8%from $713.87 on December 8, 2024 to $183.34 on April 6, 2025 |
Only partly measured: reliable trading only from September 28, 2024. What lay before that in the window is not recorded; the figures above are the endpoints of the measured part, not those of the whole cycle. |
| Year by year |
| 2024: in dollars -18.0% (from $536.79 to $440.21) · against Bitcoin -42.1% |
| 2025: in dollars -29.4% (from $489.00 to $345.35) · against Bitcoin -46.6% |
| since 2026, ongoingJune 30, 2026 to September 17, 2026 | $187.49294,357 satJuly 27, 2026 | $265.74330,768 satSeptember 6, 2026 | in dollars +$78.25 (+41.7%)against Bitcoin +12.4%from $187.49 on July 27, 2026 to $265.74 on September 6, 2026 | in dollars -$47.97 (-18.1%)against Bitcoin -12.9%from $265.74 on September 6, 2026 to $217.76 on September 15, 2026 |
| Year by year |
| 2026: in dollars +15.0% (from $201.93 to $232.21) · against Bitcoin -11.9% |
If the high of a window comes before the low, the rise is calculated from the low to the next interim high within the same window.
† For twelve assets the highest and the lowest closing price come from a window of 720 days, because the source does not reach further back. This window moves with the retrieval date. Both closes reported can therefore change without the market having moved.
The four questions that are always answered
Net supply and issuance pressure6 of 20
Starting valuation and size leverage3 of 14
Survivability5 of 12
Relative strength against Bitcoin2 of 6
11 of the twelve criteria collected individually, nothing extrapolated. What the twelve questions measure and what has been corrected about the measurement is on the method page.
The remaining criteria are not recorded individually for this asset; the total comes from the assessment of September 5, 2026.
For User growth per valuation it says “not determined” – that does not count.
The figures in detail
Price, as stored$219.00
against Bitcoin, 7 days—
against Bitcoin, 30 days—
listed on CoinMarketCap sinceMarch 2023
Age since listingnot researched
Fees relative to valuationnot determined
Supply still lockednot researched
hard supply capnot researched
Carried by Nexocarried
Trading venues of 15 checked14 of 15
The fifteen largest centralized exchanges by the CoinMarketCap ranking were counted, as of September 5, 2026. Decentralized exchanges do not count. Bybit is not included in any figure, because the venue was not reachable through sixteen address forms. Which five venues are the best for each asset has not been collected yet.
Finding
The supply cap is nominal, not technical: in the runtime source of the Subtensor chain pallet_sudo is active, while the triumvirate and the senate have been removed from the runtime. The sudo key can call sudo_set_total_issuance, that is, change total issuance. Who holds the key could not be established. The end market is overwhelmingly occupied: the four large data center operators are investing $725 billion together in 2026 — the TAO valuation corresponds to 0.29 percent of that single annual budget.
Investors and partners: not researched — awards no points, because projects with large backers did not perform better.
Nexo: Carried by Nexo — purchase page documented on September 1, 2026.
No investment advice, no price forecast, no buy or sell recommendation. A high score does not mean “will rise”. It means the asset scores better on these questions than the others.