Bittensor (TAO) is currently weathering its most significant crisis to date. In a staggering 12-hour window, the TAO price crashed by 27%, effectively erasing nearly $900 million from its total market capitalization.
The sell-off was triggered by the sudden departure of Covenant AI, one of the network's most prominent contributors. This exit was not a quiet one; the team accompanied their withdrawal with a scathing critique of the protocol's governance, accusing the leadership of maintaining a "decentralized theater" while exercising absolute control.
Did TAO Price Crash?
As of April 10, 2026, the Bittensor ($TAO) price sits at $263, representing a 24-hour decline of approximately 19%. This volatility has resulted in over $9 million in TAO long positions being liquidated, as the market reacted to reports that Covenant AI offloaded 37,000 TAO tokens, valued at more than $10 million.
TAO price in USD in Ap... 
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