The popular altcoin has surpassed $285 after posting a double-digit daily increase, sparking optimism that its rally could continue in the near term.
Some forecasts are highly bullish and even implausible (at least for now).
Just the Beginning?
TAO has performed quite well today (October 16), largely because of the market’s overall resurgence, with Bitcoin (BTC) reclaiming $82,000 and Ethereum (ETH) rebounding to around $2,450.
On top of that, another catalyst tied directly to the asset’s ecosystem could be in play. Bittensor’s team revealed the release of Null Consensus, a major protocol update that expands subnet capacity from 256 to 2,500 participants.
“It introduces a new way to determine miner rewards, giving subnet owners an alternative to Yuma Consensus,” the announcement reads.
The update also introduces optional proof-of-work registration, letting miners join subnets without spending TAO upfront. Instead of paying a fee, they can now solve a computational challenge using their hardware.
“This opens the door for more miners, including autonomous AI agents, to join Bittensor using compute alone,” the team added.
The asset has drawn numerous bullish predictions lately, and the latest price increase prompted further commentary. X user Michael van de Poppe said he’s started to like TAO’s chart even more because he sees “a clear bullish structure.”
Lucky and Sjuul | AltCryptoGems also weighed in. The former recently envisioned a potential increase toward $350-$400 by the end of the year, while the latter claimed the price has been consolidating within a massive range since the summer of 2024 and that could ultimately give way to an “epic expansion,” assuming macro support levels continue to hold.
For their part, Crypto Candy maintained that this is the last chance to buy the asset below $300, expecting a 10x explosion in the midterm.
The Crazy Bet
X user Rob Greer recently made a much more bullish price prediction than the ones above. He projected that TAO’s market cap could skyrocket above $1 trillion by 2030, suggesting the asset’s valuation “is moving at the speed of BTC, but the innovation is moving at the speed of AI.”
For now, that scenario seems highly unlikely. The token’s market capitalization is currently below $3.3 billion, meaning it would need to gain over $30,000 to reach that level. On the other hand, the crypto market is known for defying expectations, so who knows what the future might bring.
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