Hot Bittensor Subnet Tokens: Chutes, Proprietary Trading Network, and Targon - A Weekly Analysis
Keen Tokens Worth Examining in Bittensor's Ecosystem During May's Initial Week
Let's dive into the top Bittensor subnet tokens to keep an eye on this week. We've got Chutes, Proprietary Trading Network, and Targon - each with its unique potential.
Chutes
This bad boy, developed by Rayon Labs, is a serverless AI compute platform. It boasts effortless AI infrastructure, letting users deploy, run, and scale models in no time. The API integration ensures a smooth experience with Chutes, even if you're not a pro at server management.
Chutes, the biggest fish in the Bittensor Subnet sea by market cap, has recently seen some turbulence, dropping around 18% in the last seven days. Records show a 67% rally between April 7 and April 12, following which the market force pushed it down about 30% from its peak. Its Relative Strength Index (RSI) currently stands at 23.78, hinting at oversold conditions. This setup could signal the path to a potential reversal zone. If Chutes can regain its initial momentum, it might utilize the network effect to trigger a strong uptrend, possibly pushing the price back into the $0.40 range.
Proprietary Trading Network (Taoshi)
Proprietary Trading Network, or Taoshi, is a decentralized finance platform within Bittensor's ecosystem. Its goal? Democratizing access to sophisticated trading strategies, employing AI, blockchain, and finance to furnish users with advanced data, aiding in more informed financial decisions.
Proprietary Trading Network's market cap nears $50 million, and recent trading volume has jumped over 160% in the last 24 hours, reaching $3 million. As the DeFAI craze heats up for 2025, Taoshi finds itself well-positioned to capitalize on popular trends, such as AI, Bittensor subnets, and trading.
If the current trend persists, Taoshi is on its way to testing the $0.20 and $0.25 resistance levels, buoyed by growing attention in these sectors.
Targon
Targon, born from Manifold Labs, is another Bittensor Subnet token. It's developing an AI cloud platform that provides fast and cost-efficient inference on AI models, perfect for developers and companies looking to scale their AI projects. Through its Playground and API, Targon offers models optimized for completion and chat tasks.
Targon's market cap stands at around $47 million, with the daily trading volume reaching $1.33 million. The token's recent performance shows a 9% loss over the past 24 hours. With its RSI at 19.23, it's considered deeply oversold - a common signal preceding a rebound. If a new wave of momentum builds, Targon could surge up to 48%, retesting previous price levels from 15 days ago.
That's it for now! Keep an eye on these Bittensor tokens as you dive deeper into the world of AI, finance, and blockchain. Stay curious, stay informed, and good luck in your crypto journeys!
Remember:
- Always verify information and seek professional advice before making any investment decisions.
- Unpredictable market forces and individual project developments may affect the performance of these tokens.
- Be aware of potential risks associated with investing in cryptocurrencies, and never invest money that you can't afford to lose.
- This article aims to provide a snapshot of the potential of these tokens and is not intended as financial advice.
[1] https://www.coingecko.com/en/coins/chutes
[2] https://www.coingecko.com/en/coins/proprietary-trading-network
[3] https://www.coingecko.com/en/coins/targon
- Chutes, a serverless AI compute platform developed by Rayon Labs, has experienced a 18% drop in the last seven days despite reaching a 67% rally earlier in April.
- The biggest Bittensor Subnet token by market cap, Chutes, is currently oversold, potentially signaling a reversal zone and a possible return to the $0.40 range.
- Proprietary Trading Network (Taoshi), a decentralized finance platform within Bittensor's ecosystem, recently saw a 160% increase in trading volume, reaching $3 million.
- With growing attention in sectors like AI, Bittensor subnets, and trading, Taoshi is well-positioned to capitalize on the DeFAI trend for 2025 and test the $0.20 and $0.25 resistance levels.
- Targon, another Bittensor Subnet token, is developing an AI cloud platform for fast and cost-efficient inference on AI models. Its RSI indicator suggests Targon is currently oversold and could surge up to 48%, potentially retesting previous price levels.
- Targon offers models optimized for completion and chat tasks through its Playground and API, perfect for developers and companies looking to scale their AI projects.
- Always verify information and seek professional advice before making any investment decisions in cryptocurrencies, as unpredictable market forces and individual project developments may affect token performance.
- Keep in mind the potential risks associated with investing in cryptocurrencies; never invest money that you can't afford to lose.
