Bittensor (TAO) Price: Nvida CEO Jensen Huang Just Validated Decentralized AI — and TAO Is Up 15%

TLDR

• Bittensor’s TAO token is up over 15% this week, trading near $289–$298
• NVIDIA CEO Jensen Huang and investor Chamath Palihapitiya praised Bittensor’s decentralized AI model training on the All-In Podcast
• The model trained on Bittensor is Covenant-72B — a 72-billion-parameter LLM, the largest decentralized pre-training run on record
• Trading volume hit $677 million and open interest rose to $361 million, both at multi-month highs
• Grayscale has filed to convert the Bittensor Trust into a spot ETF, pointing to growing institutional interest

Bittensor (TAO) is trading near $289–$298 this week, up more than 15% over seven days. The rally was sparked by comments made on the All-In Podcast, where NVIDIA CEO Jensen Huang and venture capitalist Chamath Palihapitiya discussed a major milestone in decentralized AI.

The model in question has since been confirmed as Covenant-72B, not the 4 billion parameter figure cited during the broadcast. The Opentensor Foundation clarified that Covenant-72B is a 72-billion-parameter LLM pre-trained across 70+ global contributors using standard internet hardware. It achieved a 67.1 MMLU score and is documented in a March 2026 arXiv paper. It is the largest decentralized LLM pre-training run on record.

TAO climbed nearly 5% in the hours following the podcast, with volume nearly doubling overnight.

Trading Volume and Open Interest Surge

On-chain data from Santiment shows Bittensor’s trading volume reached $677.06 million on Sunday — the highest level since November 7. By Friday, it remained elevated at $521.92 million.

Futures open interest tracked by CoinGlass rose to $361.15 million on Monday, up from $131.94 million on March 4. By Friday it sat at $331.95 million, also near multi-month highs.

Institutional Interest Builds

Grayscale has filed to convert the Bittensor Trust into a spot ETF. The trust is currently trading at a premium, which analysts say reflects growing institutional demand.

Bittensor has also deployed Covenant-72B to drive demand for its decentralized compute network, while modular subnet development continues to attract both retail and institutional attention.

Technically, TAO is trading above its 50-day, 100-day, and 200-day EMAs. The RSI sits at 77, in overbought territory. Resistance is seen near $305.30, with the next target at $341.10 if that level is cleared.

Analyst Ardi flagged a right-angled broadening descending wedge pattern forming since October, with a confirmed breakout requiring a daily close above $302. The next target in that scenario is $360–$370.

TAO is up 37% over the past week and 55.66% over the past month, but remains 61.13% below its all-time high of $767.68 from April 2024.

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