Bittensor Token Price Plummets Amid Network Dispute and Token Sell-Off

The AI sector has been experiencing market volatility over the past month, with its market capitalization oscillating between $16 billion and $19 billion.

This week, Bittensor (TAO) plummeted by 18.6% following a massive network dispute and token sell-off triggered by Covenant AI's exit from the Bittensor network.

Covenant AI dumped roughly $10 million in TAO tokens after accusing Bittensor co-founder Jacob Steeves of centralized control, claiming he suspended subnet emissions and overrode moderation.