Bittensor (TAO) Price Rises 7% on New Investment Funds
Bittensor (TAO) price increased by 7% on Friday. This marks the third day of gains in a row. The rise follows an announcement from Barry Silbert, CEO of Digital Coin Group (DCG). He revealed two new funds for Bittensor’s subnet tokens. These funds are part of Bittensor’s decentralized Artificial Intelligence (deAI) ecosystem.
Barry Silbert Launches Yuma Asset Management with $10 Million Investment
On Thursday, Barry Silbert announced the launch of Yuma Asset Management. DCG invested $10 million in this new division. Yuma will help institutional and accredited investors access Bittensor’s deAI subnet tokens.
Subnets are smaller networks within Bittensor. They serve specific uses like translation, image recognition, and fraud detection. Each subnet has its own alpha token paired with TAO. When demand for a subnet grows, it increases token emissions. This rewards miners, stakers, and investors. Yuma aims to bring more investors into this system.
Yuma will offer two main funds:
- Yuma Subnet Composite Fund: Provides market-cap exposure to all active subnets.
- Yuma Large Cap Subnet Fund: Focuses on selected large subnets.
Bittensor’s Price Breakout Could Reach $464 and Beyond
Bittensor’s price broke above the 200-day Exponential Moving Average (EMA) at $358. This level was a resistance in August and September. A close above this line would confirm a breakout from the recent range.
If the breakout holds, the next target is $464, the May 10 close. After that, $500 and $562 (January 5 close) may act as resistance levels.
Retail interest in TAO is growing. Data from CoinGlass shows TAO futures Open Interest rose 23.52% in 24 hours to $371.59 million. This means more traders expect TAO’s price to rise. On Friday, short liquidations totaled $329,920, higher than long liquidations of $83,120. This suggests buyers are dominating the market.
Technical indicators support the bullish trend. The Relative Strength Index (RSI) rose to 66, showing strong buying pressure. The Moving Average Convergence Divergence (MACD) also moved into positive territory, with green bars increasing. This signals steady bullish momentum.
If TAO falls below the 200-day EMA, support levels are at the 50-day EMA ($336) and the $300 psychological mark.
