Targon Skyrockets Over 5,000% as DeXe Crashes 53%
The cryptocurrency market has seen significant movements in the past 24 hours, with some tokens experiencing massive gains while others plummeted.
Targon, a subnet token from Bittensor's decentralized AI network, has risen by an astonishing 5,387.1% to $10.80, with a market cap of $56.403 million. This explosive move is attributed to the launch of TargonOS, a confidential computing platform that utilizes rentable GPU and CPU virtual machines backed by hardware-level encryption. Additionally, Kraken added Targon to its exchange listings roadmap in June, which likely contributed to the token's surge.
Score, another Bittensor subnet token, has surged 4,080.7% to $6.57, with a market cap of $32.972 million. While there is no single news event that explains today's exact size of this move, it appears to be part of the same wave of speculative buying lifting multiple Bittensor subnet tokens.
On the other hand, DeXe has fallen 53.3% to $1.94, with a market cap of $186.343 million. This token hit an all-time high of $48.91 just 11 days ago and has since plummeted more than 96%. The sharp reversal is likely due to heavy profit-taking after the parabolic rally.