Bittensor Governance Crisis Wipes 26% from TAO as Ethereum Eyes $2,500

The cryptocurrency market is known for its volatility, but recent events have taken center stage in the world of digital assets. A governance crisis has hit Bittensor, wiping 26% from TAO's value in just one week.

According to CoinMarketCap, Covenant AI publicly exited the Bittensor network on April 12, accusing cofounder Jacob Steeves of unilateral control over upgrades and emissions. The firm liquidated roughly 37,000 TAO worth $10.2 million, triggering a 20% crash that dragged the token from $317 to below $250.

However, it's not all doom and gloom for Bittensor. If the team can rebuild trust before more operators follow Covenant out the door, the Bittensor price prediction still holds long-term potential.

Moving on from Bittensor, Ethereum is trading near $2,340 after bouncing 7% over the past week, with the $2,100 support level continuing to hold as institutional ETF demand grows. A clean break above $2,380 could push ETH towards the $2,500 target.

But the real story of interest lies in Pepeto, a project that has raised over $9 million during the same period. With a confirmed Binance listing and three working tools available for traders to use, Pepeto is offering higher asymmetry than its competitors.