The post Tao Synergies Expands Bittensor holdings to 54058 tokens appeared on BitcoinEthereumNews.com. Key Takeaways What is TAO Synergies doing amid Bittensor’s price decline?  TAO Synergies is aggressively accumulating TAO tokens, expanding its holdings to over 54,000. What is driving continued bearish pressure on TAO’s price?  Persistent selling by other investors is outweighing accumulation, pushing TAO below key technical levels. Following a rejection at $460, Bittensor [TAO] has faced intense bearish pressure, reaching a low of $403.  In fact, at the time of writing, Bittensor was trading at $404, marking a 10.42% decline on daily charts.  Amid this price decline, institutional investors are taking the opportunity to buy the dip.  TAO Synergies increase Bittensor holdings Notably, as TAO retraced on its price charts, TAO Synergies shifted to accumulation. On the 20th of October, TAO Synergies (TAOX ), a Bittensor Treasury company, announced that through acquisition and staking, it increased its holdings.  As such, the company expanded its TAO portfolio to 54,058 TAO tokens, becoming the largest publicly traded holder of Bittensor.  Following the acquisition, entrepreneur James Altucher noted that,  “By scaling our TAO holdings to over 54,000 tokens, we’re not only holding a crypto asset, we’re also staking our claim in a network that’s redefining entrepreneurship and innovation.” Such a massive acquisition during a market downturn indicates a strong long-term commitment to the project.  TAO Synergies raised $11 million Notably, the recent token acquisition comes just days after the firm announced it had secured funding through private placement.  According to the team, a private funding backed by DCG and James Altucher raised $11 million, which is yet to be deployed.  These funds will be used to purchase TAO tokens and explore other revenue-generating opportunities, thereby accruing more TAO within the Bittensor ecosystem.  Source: Marketwatch Notably, since TAOX shifted to an aggressive accumulation strategy for the AI coin, its value has surged significantly. In fact,… The post Tao Synergies Expands Bittensor holdings to 54058 tokens appeared on BitcoinEthereumNews.com. Key Takeaways What is TAO Synergies doing amid Bittensor’s price decline?  TAO Synergies is aggressively accumulating TAO tokens, expanding its holdings to over 54,000. What is driving continued bearish pressure on TAO’s price?  Persistent selling by other investors is outweighing accumulation, pushing TAO below key technical levels. Following a rejection at $460, Bittensor [TAO] has faced intense bearish pressure, reaching a low of $403.  In fact, at the time of writing, Bittensor was trading at $404, marking a 10.42% decline on daily charts.  Amid this price decline, institutional investors are taking the opportunity to buy the dip.  TAO Synergies increase Bittensor holdings Notably, as TAO retraced on its price charts, TAO Synergies shifted to accumulation. On the 20th of October, TAO Synergies (TAOX ), a Bittensor Treasury company, announced that through acquisition and staking, it increased its holdings.  As such, the company expanded its TAO portfolio to 54,058 TAO tokens, becoming the largest publicly traded holder of Bittensor.  Following the acquisition, entrepreneur James Altucher noted that,  “By scaling our TAO holdings to over 54,000 tokens, we’re not only holding a crypto asset, we’re also staking our claim in a network that’s redefining entrepreneurship and innovation.” Such a massive acquisition during a market downturn indicates a strong long-term commitment to the project.  TAO Synergies raised $11 million Notably, the recent token acquisition comes just days after the firm announced it had secured funding through private placement.  According to the team, a private funding backed by DCG and James Altucher raised $11 million, which is yet to be deployed.  These funds will be used to purchase TAO tokens and explore other revenue-generating opportunities, thereby accruing more TAO within the Bittensor ecosystem.  Source: Marketwatch Notably, since TAOX shifted to an aggressive accumulation strategy for the AI coin, its value has surged significantly. In fact,…

Tao Synergies Expands Bittensor holdings to 54058 tokens

Key Takeaways

What is TAO Synergies doing amid Bittensor’s price decline? 

TAO Synergies is aggressively accumulating TAO tokens, expanding its holdings to over 54,000.

What is driving continued bearish pressure on TAO’s price? 

Persistent selling by other investors is outweighing accumulation, pushing TAO below key technical levels.


Following a rejection at $460, Bittensor [TAO] has faced intense bearish pressure, reaching a low of $403.  In fact, at the time of writing, Bittensor was trading at $404, marking a 10.42% decline on daily charts. 

Amid this price decline, institutional investors are taking the opportunity to buy the dip. 

TAO Synergies increase Bittensor holdings

Notably, as TAO retraced on its price charts, TAO Synergies shifted to accumulation. On the 20th of October, TAO Synergies (TAOX ), a Bittensor Treasury company, announced that through acquisition and staking, it increased its holdings. 

As such, the company expanded its TAO portfolio to 54,058 TAO tokens, becoming the largest publicly traded holder of Bittensor. 

Following the acquisition, entrepreneur James Altucher noted that, 

Such a massive acquisition during a market downturn indicates a strong long-term commitment to the project. 

TAO Synergies raised $11 million

Notably, the recent token acquisition comes just days after the firm announced it had secured funding through private placement. 

According to the team, a private funding backed by DCG and James Altucher raised $11 million, which is yet to be deployed. 

These funds will be used to purchase TAO tokens and explore other revenue-generating opportunities, thereby accruing more TAO within the Bittensor ecosystem. 

Source: Marketwatch

Notably, since TAOX shifted to an aggressive accumulation strategy for the AI coin, its value has surged significantly. In fact, over the past month, TAO Synergies is up 59%  with its market cap hitting $31 million. 

Bittensor still faces bearish pressure 

Surprisingly, despite this accumulation, other investors remain bearish and continue to aggressively sell. 

According to CryptoQuant data, sellers have dominated the market for four consecutive days, as evidenced by Spot Taker CVD. 

Source: CryptoQuant

This metric has remained red since the 16th of October, indicating seller dominance. As a result, the altcoin has recorded a negative Buy-Sell Delta over this period. 

Source: Coinalyze

On the 21st of October, for example, Bittensor recorded 40,000 in sell volume and 32,600 in buy volume. This resulted in a negative delta of 7,400, indicating strong spot selling pressure.

Mapping TAO’s path to recovery

Although TAO Synergies continues to accumulate Bittensor tokens, this activity has not yet boosted TAO’s price. The reason is clear: many investors are aggressively selling, creating strong downward pressure on the market. 

As a result, TAO’s Relative Strength Index (RSI) fell to 56, at press time, and formed a bearish crossover, signaling growing seller dominance. 

At the same time, the token dropped below its short-term moving average, further confirming bearish momentum.

Source: TradingView

Therefore, if these market conditions persist, TAO will likely make more losses on its price charts. A drop from here will see Bittensor retrace to $378, with the 21DMA serving as critical support at $367. 

However, if TAO Synergies manages to absorb the selling pressure, TAO will reclaim 9DMA at $416 and eye $460.

Next: FLOKI rockets to a new high, but bull trap warnings emerge

Source: https://ambcrypto.com/tao-synergies-snaps-up-54k-bittensor-tokens-amid-11m-boost-details/

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