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Decentralized AI project Bittensor has seen its native TAO gain 15% in the past day. It appears to have been aided by unconfirmed rumors that longtime digital asset manager Greyscale plans to register a new trust to oversee the token. But that's not all the latest news for the project.
At the time of writing on Thursday morning, Bittensor's price had risen 15% over the previous day to trade at $483.10. According to CoinGecko data, this is a 24% gain compared to last week.
That makes TAO the best performing asset in the top 100 on CoinGecko at the time of writing, the ETH meme coin has beaten the darling PepeCoin. PEPE and other meme OGs like Dogecoin and Shiba Inu have all seen huge gains as investors wait with bated breath to see if the Securities and Exchange Commission approves the Ethereum ETF as a trading platform.
CAYEBER, a crypto-Twitter user who founded the official Bitensor community channel on Telegram, says the grayscale rumor has been “confirmed by close sources.” But if it's true, there's still no sign in Securities and Exchange Commission filings.
If TAO's offering is just another close-end fund available to wealthy investors without fees — like Grayscale Bitcoin Trust was before it turned into an ETF, and the rest of the company's single-asset funds still exist — then a Rule D filing is likely. Recently, in March, Greyscale proposed to establish Greyscale Bitcoin Mini Trust as a new place to hold BTC with S-1 registration.
As of this writing, neither file type has been provided. In fact, “Bittensor” does not appear in any SEC filings going back to 2001. This does not mean that it is impossible. Grayscale did not immediately respond to a request for comment from Decrypt.
But the rumored decentralized AI project isn't the only bullish news.
Taobot, part of the Bittensor ecosystem, had a great week. On Tuesday, the team announced that it has accepted Akash Network's Llama 3 API as one of the first projects to join the beta.
Akash Networks announced last month that it would support Chat Llama 3, the new open source model from Meta AI.
“Try the new model from Meta AI for yourself without creating an account,” the project wrote on Twitter at the time. “Completely Free and License Free”
The Taobot team has started working with the Bittensor Subnet 15 project Blockchain Insights to enable users to use a simple language to analyze blockchain data.
Subnet has been working to organize blockchain data across multiple blockchain networks with the aim of making complex data queries more efficient.
“Our integration empowers users to perform a variety of blockchain queries, from simple transactions to DeFi protocol analysis and NFT exchange,” Taobot's team tweeted yesterday.
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