- Bittensor’s TAO has dropped by almost 4% today, April 16, 2026.
- Covenant AI’s exit triggered the downfall.
- The price of the token has come down to $240 from a level of $350 in the past month.
Bittensor’s native token TAO is currently experiencing a downfall of almost 4% and the price of the token is hovering around the $240 mark. The price dropped down from $350 to $240 amid governance concerns, panic selling, and weakening market confidence. The token is underperforming when compared to the broader crypto market which is experiencing an uptick of 1.2% as per CoinMarketCap.
The selloff has also been amplified by lower liquidity and a broader rotation away from the AI narrative, even as the wider crypto market has held firmer.
At press time, the price of the token stands at $239.02 with a drop of 3.74% in the last 24-hours as per CoinMarketCap.
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