Bittensor (TAO) has seen a significant increase in development activity, making it the top gainer among the top 100 cryptocurrencies. In the past 24 hours, TAO has surged by 18% and is currently trading at $260. The asset’s market cap has also increased to $1.59 billion, ranking it as the 50th largest cryptocurrency in the market. Despite its market value, TAO’s daily trading volume remains relatively low at around $11 million.

Last month, TAO reached an all-time high of $392, along with other top AI tokens experiencing significant rallies in 2023.

Recent data from Santiment shows that TAO’s development activity has increased by 37% in the past day, marking the first surge since December 22, 2023. This uptick in development activity has coincided with a 67% increase in social volume for Bittensor. Additionally, the Relative Strength Index (RSI) for TAO has risen from 36 to 50, indicating increased interest and potential price movement.

While the RSI remains below the key 60 mark, suggesting a possible price cooldown, the recent surge in development activity and social volume indicates a growing interest in Bittensor. Investors should keep an eye on these indicators for potential trading opportunities.

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