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HBAR has recorded a 7% drop over the past week, underperforming the broader crypto market, which has shown signs of a mild recovery. 

A closer look at the technicals paints a bleak picture, with key indicators suggesting the selloff may continue in the short term.

HBAR Bulls Step Back as Sellers Gain Ground

An assessment of the HBAR/USD one-day chart shows that the token’s Relative Strength Index (RSI) remains below the neutral 50 level and continues to trend downward. As of this writing, this momentum indicator is at 43.38.

The Relative Strength Index (RSI) is a momentum indicator used to assess whether an asset is overbought or oversold. It operates on a scale from 0 to 100, with readings above 70 typically signaling overbought conditions and a potential price correction. On the other hand, values below 30 suggest the asset is oversold and may be poised for a rebound.

HBAR’s RSI reading signals growing bearish momentum. Its weakening value suggests that selling pressure is intensifying, reducing the likelihood of a short-term rebound.

HBAR’s Balance of Power (BoP) indicator, which currently returns a negative value of -0.27 at press time, further reinforces the bearish outlook.

This indicator measures the strength of buyers versus sellers by analyzing price movement within a given period. When an asset’s BoP is negative, it indicates that sellers are dominating the market. This increases the likelihood of continued downward pressure on HBAR’s price in the short term. 

HBAR Faces Downtrend Pressure

HBAR’s decline over the past days has caused it to trade below a descending trend line. This is a bearish pattern formed when an asset consistently makes lower highs over time, and those highs can be connected by a straight line sloping downward. 

The longer the trend line holds, the stronger the indication that the asset is in a sustained downtrend. This pattern reflects a bearish market sentiment, where HBAR sellers gradually overpower buyers. 

If this continues, it could push HBAR’s price further to $0.12.

However, a rally above the descending trend line could propel the HBAR token’s price to $0.19.

The post Hedera (HBAR) Bleeds 7%, More Pain Ahead as Bears Tighten Grip appeared first on BeInCrypto.

Firms worldwide are accelerating their efforts to integrate digital assets into their financial frameworks. While Bitcoin (BTC) has been the go-to choice, many companies are now diversifying into major altcoins like Ethereum (ETH), XRP (XRP), and Solana (SOL). 

Besides these, AI tokens have emerged as compelling contenders for institutional investment. Recently, Synaptogenix adopted Bittensor (TAO) as a reserve asset. In an exclusive interview with BeInCrypto, Synaptogenix outlined the motivations behind this strategic move and why TAO was chosen over Bitcoin.

Why Did Synaptogenix Choose Bittensor (TAO)?

On June 9, BeInCrypto reported that Synaptogenix, a clinical-stage biopharmaceutical company, launched a TAO treasury strategy to acquire $100 million worth of tokens. To start with, the firm announced that it will spend $10 million to buy TAO using its cash reserves and balance sheet.

This amount, more than double Synaptogenix’s current market capitalization of $4.98 million, highlighted its commitment and confidence in TAO. A spokesperson told BeInCrypto that the decision stems from a belief in the untapped potential of decentralized AI. 

The spokesperson explained that despite the crypto’s massive $3 trillion market capitalization, it remains underrepresented in public equity markets. They pointed to Strategy’s (formerly MicroStrategy) success under Michael Saylor, who demonstrated that holding Bitcoin in corporate treasuries can yield significant returns. 

Bitcoin represents a bet on “crypto as currency,” while Ethereum and Solana focus on decentralized finance—sectors projected to grow into trillions. However, Synaptogenix sees an even greater opportunity in the convergence of crypto and AI.

“AI companies have reached a market cap of nearly $500 billion, while TAO, the leading decentralized AI token, is valued at only $3 billion. Despite its growth, TAO’s value remains underappreciated as interest in decentralized AI increases,” the spokesperson noted. 

They highlighted that venture capital investment in decentralized AI  grew by 200% in 2024. Notably, as the largest AI token by market cap, TAO stands to benefit from the increased institutional interest.

“We expect decentralized AI to eventually surpass centralized AI, and institutional interest in TAO will follow suit. Over the next year, the demand for TAO will surge, coinciding with a decrease in the available supply of TAO tokens—making it a perfect token for investment at this time,” the spokesperson added.

Bittensor (TAO) vs. Bitcoin (BTC): Which is Better?

The debate over Bitcoin vs. Bittensor has been running for quite some time. Recently, Barry Silbert, CEO of Digital Currency Group, predicted that TAO could outperform Bitcoin as a global store of value.

Synaptogenix agrees with this view. The spokesperson elaborated that Bitcoin remains a prime example of a store of value and a reliable asset. 

However, they argued that Bittensor’s TAO token takes the concept of incentives further, positioning it as a stronger contender.

“Bittensor is to innovation what Bitcoin is to currency. While Bittensor mirrors Bitcoin in many ways—particularly in its decentralized, fixed-supply model—its incentives play a far more significant role in driving societal innovation. This makes Bittensor a unique and potentially more impactful asset in the long run,” the spokesperson mentioned to BeInCrypto.

According to them, Bitcoin miners earn roughly $10 billion annually and consume vast amounts of electricity to secure the network. In contrast, TAO miners are rewarded for contributing to AI innovation through AI models, computing power, or new AI businesses rather than energy-intensive mining.

The Road Ahead For TAO

Despite the optimism about TAO’s potential, Synaptogenix stressed that adopting a TAO treasury strategy is not easy. 

“Staking tokens like Ethereum or Solana is relatively easy, with token holders receiving rewards in exchange. However, optimizing TAO staking requires deep knowledge of the TAO ecosystem, which offers unique staking strategies that result in greater rewards compared to other tokens,” the spokesperson stated.

They also emphasized that the company’s expertise in the TAO ecosystem, crypto, and staking makes it well-positioned to lead this strategy and maximize returns.

Nonetheless, the firm still anticipates other institutional investors to follow. In addition to Synaptogenix, Oblong, a technology solutions provider, has committed $7.5 billion to fund its TAO corporate reserve. 

As institutional adoption grows, Synaptogenix expects TAO’s price to rise significantly.

“Institutions tend to be buy-and-hold investors, which means that as more institutions adopt TAO, the token’s supply will decrease as it gets locked up in long-term holdings. This will drive the price up,” the statement read.

Besides institutional interest, they pointed out several other catalysts, including TAO’s halving, its availability on Coinbase (exposing it to 100 million customers), and the rapid growth of subnets on the TAO platform. Additionally, increased involvement from hedge funds in crypto assets could likely drive demand further.

With the AI market projected to expand from $300 billion in 2025 to over $3 trillion by 2030, decentralized AI, particularly TAO, is expected to capture a substantial share.

“We believe that as decentralized AI reaches a tipping point, the first billion-dollar business in the TAO/Bittensor ecosystem will significantly boost public and institutional interest, driving TAO’s price to new heights,” the spokesperson forecasted.

With its strategic vision and deep ties to the TAO ecosystem, Synaptogenix is paving the way for a new wave of institutional investment in decentralized AI, one that could reshape the financial market.

The post Why Synaptogenix Prefers Bittensor (TAO) Over Bitcoin (BTC) for Its Corporate Treasury appeared first on BeInCrypto.