Bittensor TAO gains 41% in past day after Bitmind unveils deepfake detection system. The surge follows Bitmind’s launch of the BitMind Subnet, a new component of the Bittensor ecosystem.
At the time of writing, Bittensor’s (TAO) price climbed 49% to $254, marking a 15% gain compared to last month, according to CoinGecko data.
The crypto asset has a daily trading volume of $203 million, while its market cap stood at $1.8 trillion. TAO is the best-performing asset in the top 100, outpacing Akash Network (AKT), which also surged 41%.
The increase in TAO follows an announcement from decentralized AI platform Bitmind on Aug. 6 about the BitMind Subnet, aimed at detecting and mitigating deepfakes.
BitMind Subnet differentiates between authentic and synthetic content, offering transparent, publicly accessible results using an open-source subnet architecture.
The surge in TAO also aligns with a rise in other AI tokens. Render (RNDR) and Artificial Superintelligence Alliance token (FET) jumped 28.8% and 13.6%, respectively.
Meanwhile, the global crypto market has surged 9%, now standing at $1.98 trillion.
Bitcoin (BTC) is up 7.6% in the last 24 hours, trading at $55,694. Ethereum (ETH) is also up 10%, trading at $2,506, per CoinGecko data.
