Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Bittensor (TAO) Cryptocurrency Rises 46% Following Launch of Covenant-72B, Sparking Subnet Growth
Bittensor (TAO) cryptocurrency experienced a 46% increase in March, currently trading around $277.
The network has successfully implemented its Covenant-72B model on Subnet 3. This is not merely a promise from the roadmap; it is a fully operational heavy-compute model functioning on-chain.
The market reacted swiftly. The subnet-native τemplar token surged nearly 200% within a week.
TAO has evolved beyond being solely a governance token. The actual demand for utility is propelling this movement.
Key Takeaways:
- TAO achieves a 46% monthly increase due to the deployment of the Covenant-72B model.
- Activity on Subnet 3 skyrockets, resulting in a 194% rise in the τemplar token within days.
- Institutional investments are increasing in anticipation of a potential Grayscale ETF approval.
Covenant-72B: Why This Release Moved the Market
Covenant-72B is a large language model with 72 billion parameters, marking a significant upgrade from the lighter models previously utilized by Bittensor. This enhancement enables the network to manage enterprise-level compute demands.
This scale has a direct effect on validator staking. Operating a model of this magnitude necessitates higher quality miner inputs and increased TAO staking to ensure adequate bandwidth. The demand for compute resources on Subnet 3 has generated a corresponding demand for the collateral that supports it. The pricing mechanism functioned precisely as intended.
We just completed the largest decentralised LLM pre-training run in history: Covenant-72B. Permissionless, on Bittensor subnet 3.
72B parameters. ~1.1T tokens. Commodity internet. No centralized cluster. No whitelist. Anyone with GPUs could join or leave freely.
1/n pic.twitter.com/W0Ks563Cld— templar (@tplr_ai) March 10, 2026
Related Posts
The primary beneficiary was not TAO itself, but τemplar, the native token of Subnet 3, which surged 194% following the deployment. This illustrates the ecosystem feedback loop in action. High-performance subnets draw speculative investment, which enhances liquidity for the miners operating within them.
Volume supports this movement. TAO’s volume-to-market-cap ratio is between 17% and 19%, with over $254 million traded in the last 24 hours. This indicates substantial market participation rather than a mere thin order book spike.
When subnet tokens outperform their parent chain, it often indicates the onset of an application layer season for the protocol. This is the next phase for which traders are preparing.
TAO Crypto Price Analysis: Can Bulls Breach $300?
TAO is currently consolidating at $277.49, just beneath the $300 psychological barrier. The structure remains bullish as long as the price holds above $250.
The 46% surge has already eliminated weaker hands. Open interest is increasing. Traders are gearing up for a potential breakout.
Bittensor (TAO)24h7d30d1yAll time
Bull case: a daily close above $300 could lead to $350. The Grayscale ETF filing adds a fundamental narrative. Volume must remain above $250 million daily to sustain the momentum.
Bear case: a rejection at $300 may lead to a retest of $240. If the broader altcoin recovery falters, TAO could trade sideways for several weeks. Monitor the $265 level closely; losing that support would invalidate the immediate breakout setup.
The post Bittensor (TAO) Crypto Surges 46% as Covenant-72B Launch Triggers Subnet Explosion appeared first on Cryptonews.
