Bittensor Price Soars Sharply, This Is The Cause!

Bittensor prices jumped sharply (Photo; Doc. Panewslab)

JAKARTA - Bittensor, one of the tokens that is on the rise, has experienced a price spike. In recent days, Bittensor has recorded a tremendous price increase, making it one of the biggest winners in the crypto market today. With a market capitalization of 4 billion US Dollars (approximately IDR 62 trillion), Bittensor is now ranked 24th in the crypto world. In the last 24 hours alone, the price of this token has increased by more than 29%, attracting the attention of many investors and analysts.

After briefly slumping to the lowest level of 223 US Dollars (approximately IDR 3.5 million) two weeks ago, Bittensor prices have now jumped to 552.85 US Dollars (approximately IDR 8.6 million) after an 85% increase in the week and 20% in the last 24 hours. Trading volume has also increased 57% today, signaling high demand for these tokens, with transactions reaching more than 317 million US Dollars (approximately IDR 4.9 trillion) in the last 24 hours.

The increase in Bittensor prices is inseparable from several important factors that have sparked the attention of investors:

1. Kamala Harris's support for Crypto

At a fundraising event on Wall Street on September 22, US Vice President Kamala Harris expressed her support for the development of innovative technologies, including digital assets and artificial intelligence (AI). This statement sparked great attention to the crypto industry, including Bittensor, which is an AI-related token. Harris stressed the importance of protection for consumers and investors, which is increasing trust in the crypto market.

2. Wayne Vaughan's interest in Bittensor

Wayne Vaughan, founder and CEO of Tierion, recently showed interest in Bittensor as a decentralized AI training model. In a tweet on social media, Vaughan mentioned that he is exploring Bittensor technology. Although he is not considering investment at this time, his statement has raised interest and demand for this token.

3. New Development Around Bittensor

The increase in Bittensor prices has also been driven by new developments, including the launch of the Bittensor Trust by Grayscale, which has been available to accredited investors since last month. This launch adds hype around these tokens. In addition, Bittensor has just introduced a new decentralized training mechanism, which collaborates with AI training models as well as Macrocosmos and Manifolds.

Bittensor prices are now at their highest level in recent months, only 27% of the previous all-time high (ATH). With a boost from Kamala Harris's statement of support for AI and digital assets, as well as the latest development of Bittensor, demand for these tokens is increasing rapidly. Moreover, the potential for future collaboration with influential figures in the industry could provide a further spike in Bittensor prices.