Bittensor surges 41% as AI project Bitmind unveils deepfake detection system

Decentralized artificial intelligence project Bittensor TAO has gained 41% in value in the last day, following losses that occurred after more than $1 billion worth of liquidations occurred in the global cryptocurrency market yesterday.

At press time, Bittensor (TAO)’s price is up 49% to $254, up 15% from the same period last month, according to CoinGecko data.

TAO 24-hour price chart | Source: CoinGecko

The crypto asset had a daily trading volume of $203 million, while its market cap was $1.8 trillion. The latest achievement made TAO the best-performing asset in the top 100 on CoinGecko, overtaking decentralized, open-source cloud computing marketplace Akash Network (AKT), which is up 41% in the last 24 hours.

The recent surge in TAO comes after decentralized AI platform Bitmind made an X announcement on August 6 about the launch of BitMind Subnet, a new component of the Bittensor ecosystem focused on detecting and mitigating deepfakes.

It effectively distinguishes between real and synthetic content, delivering transparent, public results, and leverages an open-source subnet architecture.

The surge in TAO comes at a time when other AI tokens have also surged over the past day. Notably, Render (RNDR) and the Artificial Superintelligence Alliance token (FET) have also increased by 28.8% and 13.6% respectively.

Meanwhile, the recent surge in AI tokens comes after a 9% increase in the global cryptocurrency market, which has now reached $1.98 trillion.

Leading cryptocurrency Bitcoin (BTC) is also in the green, up 7.6% in the last 24 hours and changing hands at $55,694. The largest altcoin, Ethereum (ETH), is also up 10% and trading at $2,506, according to price data from CoinGecko.