Overview
- TAO climbed more than 56% over seven days to an intraday high near $293.8 on March 16, lifting its market value to about $2.6 billion and marking a 46% gain for March.
- Bittensor announced Covenant‑72B, a 72‑billion‑parameter model built to run natively on its decentralized network, which investors treated as the week’s primary catalyst.
- Grayscale’s Bittensor trust obtained SEC‑reporting status on March 14, while reported spot‑TAO ETF applications from Grayscale and Bitwise remain subject to regulatory approval.
- Access expanded after a late‑February Upbit listing in South Korea, which publications cite as helping draw new retail demand into March.
- Investor focus has shifted to early monetization and supply dynamics, with analyst Tanaka reporting roughly $20 million ARR across top compute subnets and noting a recent halving plus high staking that tighten circulating supply.