Asset Spotlight
Asset Spotlight: Bittensor (TAO) by the Numbers
Today we run the numbers on Bittensor, the #41 crypto asset by market value. TAO trades at $204.68 (-4.9% over 24 hours), for a market capitalization of $2.0B — 0.09% of the entire crypto market.
The trend
Over the past seven days TAO is +4.0% — a firm week, outpacing the market's typical drift. Within the last 24 hours alone it traveled a 6.4% range between $203.66 and $216.68.
Zooming out, TAO is roughly 73% below its March 2024 all-time high. Recoveries from this depth have happened in crypto, but they historically required a full market cycle, not a quarter.
Liquidity
$108.9M of TAO changed hands across all tracked venues in the past day, equal to 5.5% of its market value. That is a moderate turnover ratio — liquid in normal conditions, but large orders would start to move the price in stress.
Supply
Supply is hard-capped at 21,000,000 TAO, of which 45.7% is already circulating — a substantial share of supply is still to come, which is future sell pressure the price must absorb.
One structural note: fully-diluted valuation ($4.3B) runs well above current market cap ($2.0B). The gap is locked and unissued supply that will eventually reach the market — an overhang worth pricing in.
The standing caveat
This profile is a structured reading of live market data — size, trend, liquidity and supply — not a verdict on the project behind the token. Fundamentals, teams, and token utility are outside what price data can tell you, and none of the above is investment advice. For how to think about position sizing in assets like this, start with our guide to market cycles.
All figures captured from CoinGecko at publication time on Wednesday, July 8, 2026. The Asset Spotlight rotates through the leading non-stablecoin crypto assets, one per day.