tl;dr
Coinbase announced the listing of Bittensor (TAO), resulting in a 17% surge in its token price. The AI token market, affected by recent events, including DeepSeek, is showing signs of recovery. The "Coinbase Effect" was evident as Bittensor's value rose after the listing announcement. Bittensor's pr...
Coinbase's Listing of Bittensor (TAO) Sparks 17% Price Surge
Coinbase announced the listing of Bittensor (TAO), resulting in a 17% surge in its token price. The AI token market, affected by recent events, including DeepSeek, is showing signs of recovery. The "Coinbase Effect" was evident as Bittensor's value rose after the listing announcement. Bittensor's price trajectory has been volatile, but the Coinbase listing and market interest are currently driving bullish momentum.
Bittensor's Volatile Trajectory and Coinbase's Influence
Coinbase announced the listing of Bittensor (TAO), causing a 17% jump in its token price. The asset’s value has been fluctuating dramatically throughout the past month, but it appears to be back on a bullish course. The market for AI tokens is still somewhat traumatized by DeepSeek and other factors, but there are signs of recovery. Hopefully, ambient interest in Bittensor and its subnets can keep its momentum high.
"Coinbase will add support for Bittensor (TAO) on the Bittensor network. Trading will begin on or after 9AM PT on February 20, 2025 if liquidity conditions are met. Once sufficient supply of this asset is established, trading on our TAO-USD trading pair will launch in phases," the firm claimed via social media.
Bittensor, a leading AI token, had a complicated price trajectory over the last few weeks. TAO was looking quite solid in late January, despite the generalized rout in AI-related tokens caused by DeepSeek. The altcoin started crashing in early February, driven by the wider liquidations. However, Coinbase’s initial listing roadmap and Elon Musk’s audacious bid to purchase OpenAI helped TAO and the AI crypto market find some ground.
Bittensor’s price sharply crashed in early February, and Coinbase only temporarily provided a reprieve by putting the token on its listing roadmap. Earlier today, Bittensor was one of the most searched altcoins, and Coinbase’s listing announcement is adding further momentum.
In short, things are looking bullish for TAO at the moment. Bittensor was already seeing heightened enthusiasm in the crypto community, and the Coinbase listing has been a shot in the arm. Ambient market pressures in the AI space may or may not have a bearish impact on the asset in the near future. For now, however, it has a lot of advantages.