<\/p>\n
As yet another TAO treasury firm launches, Bittensor’s subnet ecosystem is growing<\/p>\n
Decentralized artificial intelligence (DeAI) blockchain network Bittensor (TAO) is continuing to grow with the network\u2019s subnet ecosystem<\/a> approaching the $1 billion market capitalization mark, as TAO treasury companies step in.<\/p>\n Bittensor\u2019s cumulative subnet market cap has reached as high as $920 million as of press time, according to TAOapp<\/a> data. Subnets represent specialized Bittensor-based DeAI marketplaces that make up the larger ecosystem. Over the past month, growth is led by subnet 39 (SN39), basilica, which is up 655%.<\/p>\n Excitement is brewing in and around the ecosystem as TAO development and treasury companies continue to emerge.<\/p>\n The latest is xTAO, which is a publicly traded company focused exclusively on growing the Bittensor ecosystem. The firm listed<\/a> its common shares earlier this week on the TSX Venture Exchange, a Canadian launchpad exchange focused on smaller and early-stage companies.<\/p>\n The founder and CEO of xTAO Karia Samaroo commented on the stock listing in a statement: \u201cOur public listing and financing mark important milestones for xTAO, as we execute on our mission of advancing decentralized AI [\u2026] Bittensor is rapidly emerging as the \u2018Bitcoin of AI,\u2019 and xTAO will be well-positioned to capitalize on its growth potential through the operation of our validator and our use of TAO as our treasury reserve asset.\u201d<\/p>\n Samaroo is also known as the former CEO, as well as co-founder, of WonderFi, a Canadian digital asset services provider, which entered into a deal to be acquired by Robinhood<\/a> for C$250 million in May.<\/p>\n xTAO kicked off its treasury strategy with 30,000 TAO tokens, worth roughly $12.8 million at current prices. This comes shortly after a company called Synaptogenix announced it would be seeking to acquire $100 million worth of TAO<\/a> for its own treasury.<\/p>\n TAO, which is one of the largest decentralized AI networks in DeFi, is up 28% on the year, and trades at $428 per token<\/a>, with a $4.04 billion market capitalization. The token price is up 7% since launching<\/a> its subnet ecosystem in February.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" As yet another TAO treasury firm launches, Bittensor’s subnet ecosystem is growing Decentralized artificial intelligence (DeAI) blockchain network Bittensor (TAO) is continuing to grow with the network\u2019s subnet ecosystem approaching the $1 billion market capitalization mark, as TAO treasury companies step in. Bittensor\u2019s cumulative subnet market cap has reached as high as $920 million as […]<\/p>\n","protected":false},"author":2,"featured_media":399657,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-399656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/399656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=399656"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/399656\/revisions"}],"predecessor-version":[{"id":399658,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/399656\/revisions\/399658"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/399657"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=399656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=399656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=399656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}