By: Eliza Bennet
The security-focused staking protocol, Eigenlayer has seen a massive surge, crossing a total value locked (TVL) of $3 billion. The rise came as a result of caps being removed until Friday, Feb. 9, as the protocol attempts to strike a balance between neutrality and decentralization.
In the realm of artificial intelligence-focused digital currencies, Bittensor (TAO) has come under the spotlight. TAO has recently recorded an impressive 109% increase over the last month, achieving a market cap close to $3 billion. Bittensor's recent popularity is driven by its significant network upgrade proposal known as Dynamic TAO. This upgrade is an ecosystem of subnets providing diverse services, drawing in investors and catalyzing its market cap expansion.
The Dynamic TAO proposal plans to replace the only-permissioned Root Network with an automated, market-driven mechanism for emission distribution. The proposed upgrade will made each subnet unique with its own token and paired with TAO in a native liquidity pool. This move is likely to boost demand for TAO as subnet tokens will be required to purchase and stake TAO within a subnet pool for validation or speculation.
Following these upgrades, Bittensor will witness steady growth in its artificial intelligence capabilities while maintaining the potential of its native token, TAO. At the time of writing, TAO is trading at $481, reflecting an increase of over 12% within 24 hours.
© BlockBriefly. All Rights Reserved.