Bittensor takes the lead with increasing development activity, emerging as the top performer.
Bittensor (TAO) has emerged as the top performer among the top 100 cryptocurrencies as the platform’s development activity experiences a surge. TAO has seen an 18% increase in the past 24 hours and is currently trading at $260. The asset’s market capitalization has also risen to $1.59 billion, making it the 50th-largest cryptocurrency in the market. However, Bittensor’s daily trading volume remains relatively low, currently hovering around $11 million.
In terms of TAO’s performance indicators, data from Santiment reveals that the asset’s development activity has increased by 37% in the past day. This surge in development activity is the first since December 22, 2023, when the asset was trading at around $300.
Furthermore, Bittensor’s social activity has also intensified alongside the price surge. Santiment reports a 67% rally in the asset’s social volume in the past 24 hours.
On the other hand, the TAO Relative Strength Index (RSI) indicates increased momentum surrounding the asset. The RSI has risen from 36 to 50 in the past day. Although the indicator is still below the crucial 60 mark, this sudden rise suggests the possibility of a price cooldown.
Overall, Bittensor’s recent performance highlights its growing popularity and potential in the cryptocurrency market. Investors and enthusiasts closely monitor its development activity, social volume, and RSI as indicators of its future price movements.
