TAO (Bittensor) rose 5.67% in the last 24 hours.

Gate News Bot news, on September 9th, according to CoinMarketCap data, as of the time of writing, TAO (Bittensor) is currently priced at $345.33, having risen 5.67% in the last 24 hours, with a peak of $346.85 and a low of $311.42. The 24-hour volume reached $136 million. The current market capitalization is approximately $3.396 billion, an increase of $182 million compared to yesterday.

Important news about TAO recently:

1️⃣ Polychain and DCG have raised controversial terms for the TAO subnet team.

Well-known venture capital firms Polychain and Digital Currency Group (DCG) have been accused of presenting what are considered "predatory" terms to several Bittensor subnet teams that are preparing to launch. These terms require teams to pay 20%-50% of their permanent token release share, but reportedly offer little corresponding value support and funding. This practice has sparked widespread controversy and criticism within the industry.

Industry professionals publicly condemn the actions of large institutions.

Joseph Jacks, the founder of OSS Capital, publicly criticized the practices of Polychain and DCG on social media, stating that such terms only attract extremely mediocre or desperate teams. Jacks mentioned that he directly listened to anonymous disclosures from more than a dozen teams and decided to publicly name and condemn the actions of these two companies.

3️⃣ Attention is drawn to the concentration of TAO token supply.

It is noteworthy that Polychain and DCG are reported to hold more than 4% of the total supply of TAO. This relatively concentrated holding situation, combined with the terms proposed by their subnet teams, has sparked discussions in the market regarding the degree of decentralization of the TAO ecosystem and its future development direction.

Despite these controversies, the price of TAO has still risen in the past 24 hours, indicating that the market maintains a certain level of confidence in the project. However, these institutional behaviors may affect the future development of the Bittensor ecosystem and the willingness of new projects to join, and investors should closely monitor the developments and their potential impact on the long-term value of TAO.

This message is not considered investment advice; investors should be aware of market volatility risks.