Bittensor (TAO) has seen its price climb to the $289–$298 range this week, registering gains exceeding 15% across a seven-day period. The upward momentum followed significant commentary on the All-In Podcast, where NVIDIA’s CEO Jensen Huang alongside venture investor Chamath Palihapitiya acknowledged a breakthrough achievement in distributed artificial intelligence.
During the podcast, Palihapitiya outlined how a substantial language model was successfully trained using dispersed hardware contributed by independent operators worldwide. “They successfully trained a 4 billion parameter LLaMA model in a completely distributed fashion, with numerous contributors offering spare computing power,” he explained, characterizing it as “an extraordinary technical achievement.”
The actual model referenced has been identified as Covenant-72B, rather than the 4 billion parameter version mentioned in the discussion. The Opentensor Foundation verified that Covenant-72B is a 72-billion-parameter language model pre-trained using contributions from over 70 global participants utilizing conventional internet-connected hardware. The model posted a 67.1 MMLU benchmark score and its methodology is detailed in a March 2026 arXiv publication. This represents the most extensive decentralized LLM pre-training effort ever recorded.
Jensen Huang offered support for the wider vision of distributed AI development. “These two approaches aren’t mutually exclusive; they’re complementary,” Huang stated. “That’s absolutely certain.” He positioned proprietary and open-source frameworks as partners rather than rivals.
TAO appreciated roughly 5% within hours of the podcast airing, accompanied by trading volume that nearly doubled overnight.
Blockchain analytics from Santiment indicate Bittensor’s daily trading volume peaked at $677.06 million on Sunday — the strongest showing since November 7. By Friday, volume maintained elevated levels at $521.92 million.
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Futures open interest monitored by CoinGlass advanced to $361.15 million on Monday, climbing from $131.94 million recorded on March 4. Friday’s reading stood at $331.95 million, also near recent highs.
Grayscale has submitted regulatory filings to restructure the Bittensor Trust into a spot exchange-traded fund. The trust currently trades at a premium valuation, which market observers interpret as evidence of strengthening institutional demand.
Bittensor has simultaneously activated Covenant-72B to stimulate utilization of its distributed computing infrastructure, while ongoing modular subnet development continues attracting both individual and institutional participants.
From a technical perspective, TAO trades above its 50-day, 100-day, and 200-day exponential moving averages. The Relative Strength Index registers 77, indicating overbought conditions. Immediate resistance appears near $305.30, with subsequent targets at $341.10 upon clearing that threshold.
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Technical analyst Ardi identified a right-angled broadening descending wedge formation developing since October, with breakout confirmation requiring a daily close exceeding $302. Under that scenario, projected targets extend to the $360–$370 zone.
TAO has advanced 37% during the past week and 55.66% over the previous month, though it remains 61.13% beneath its all-time peak of $767.68 established in April 2024.
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