Bittensor's TAO Risks 45% Dip Amid 'Decentralization Theater' Accusations
Cointelegraph
Bittensor's TAO token faces a potential 45% price decline following accusations of centralization from a major subnet operator, Covenant AI.Summary
The Bittensor (TAO) token has experienced a 30% price drop after the prominent subnet operator Covenant AI exited the ecosystem, labeling the project as "decentralization theater." This accusation has shaken market confidence, leading to significant liquidations in the futures market. Technical indicators, including Fibonacci retracements and past fractal patterns, suggest that TAO could face further downward pressure, potentially falling another 25% to 45% toward the $144 level if bearish trends continue.
(Source：Cointelegraph)