Bittensor [TAO] has had a good day over the last 24 hours. A really good one, actually. What’s going on behind the scenes?
Bittensor subnets hit $70 million in annualized revenue
Part of the excitement might just come down to money really being made on the network.
SubConnect recently estimated that they’re bringing in about $70 million a year. When it first started counting two months ago, that number was $35 million. Last month, it was close to $50 million.
So, that’s about 40% growth MoM; 2x from the starting mark. Therefore, possibilities for over $100 million towards the end of 2026 remain high.
The subnets have been busy too. In the last week of October alone, 18 of them shipped something new. Targon (SN4) bought back and burned 8,450 TAO, worth about $2.1 million. In fact, Leadpoet (SN71) said that its annual recurring revenue has 3x-ed in two months.
There’s a catch though. Annualized revenue is NOT a guarantee.
Subnets lean on token emissions; keeping this pace while improving margins is the hard part.
However, this is cool reason to hold on to hope.
TAO crypto moves up to $237; Futures traders not convinced?
TAO crypto was trading at $237.4, at the time of writing.
Earlier today, it was trading at close to $218.5 – An 8.6% hike. The biggest push was when it tagged about $239.5. Since then, it’s mostly been trading between $235 and $237.
Short-term RSI was 80 during the spike and has since slid down to 59.5. CMF was at 0.08. The peak was near 0.45, but it was still positive at press time. That’s something.
Futures traders haven’t really been chasing this though.
Open interest fell from $155 million to $135 million in late October. Since then, it’s barely moved. At the time of writing, it had a value of around $137.4 million, with the funding looking almost flat.
This implied that the rally was coming from spot buyers. That’s usually the healthier kind.
Hence, $235 is now the level to watch.
Final Summary
- Bittensor subnets are now making about $70 million in annualized revenue.
- TAO crypto’s price rose on the charts, with spot buyers leading.