TAO (Bittensor) surges 20.4% in 24 hours: NVIDIA CEO Jensen Huang praises Subnet3 technology achievements as driving force

Volatility Brief

In the past 24 hours, TAO price rebounded from a low of $242.9 to a high of $292.4, with the current quote at $292.3, representing a total fluctuation of 20.4%. Trading volume surged significantly. According to CoinMarketCap, the 24-hour trading volume reached approximately $333 million, while CoinGecko reported about $492 million. The Vol/Mkt Cap ratio was as high as 12.58%-15.59%, reflecting a spike in market activity.

Brief Analysis of Abnormal Movements

- On March 20, NVIDIA CEO Jensen Huang praised Bittensor Subnet 3’s utilization of distributed idle computing power to successfully train the 400-million-parameter Llama model during an interview on the All-In podcast, calling it a “technological achievement.” This directly drove TAO up 4.23% to $278.3 on the same day.

- On March 19, with the expansion of the Bittensor staking market, TAO’s weekly staking value grew by 33%, and 76.4% of the supply had been staked, reducing circulating liquidity and amplifying price elasticity.

Market Opinions and Outlook

The community expressed high excitement regarding the mention by NVIDIA’s CEO, and heated discussions on the X platform regarded it as significant endorsement for decentralized AI, bolstering the narrative that “TAO is the Bitcoin of AI.” Leading analysts pointed out that the $300 resistance level has repeatedly hindered upward momentum, with $250 as a key support. RSI’s retreat from overbought levels may trigger a pullback, yet high staking rates and AI enthusiasm support an optimistic outlook for the market.