TAO Holds $299 as Carbon Surges 77.6% and lium.io Tops Emissions and Volume
A weekly look at the Bittensor subnet ecosystem: TAO steady at $299, four new subnets join the network, and Carbon leads a volatile week of gainers and fallers across 128 active subnets.
Bittensor’s subnet economy ticked over quietly this week, with TAO trading at $299 and the network now hosting 128 active subnets. Total subnet-token market cap stands at $1.48B, according to TaoStats, as the ecosystem continues to broaden beneath a relatively stable TAO price.
Biggest movers
It was a strong week for smaller-cap subnets at the bottom of the rankings. Carbon (SN116) was the standout gainer, up 77.6% over seven days to a $2.0M market cap and rank 101 - a notable move for a subnet that only registered on 4 October. Attune (SN58) followed with a 55.7% gain, lifting its market cap to $2.1M (rank 98). Further up the rankings, AdTAO (SN21) climbed 49.1% to an $8.2M market cap (rank 43), while Leadpoet (SN71) added 31.1% to reach $7.2M (rank 49). Quantum Compute (SN48) rounded out the top gainers with a 24.9% rise to $8.2M (rank 44).
On the other side of the ledger, Umi (SN78) was the week’s biggest faller, down 20.6% to a $1.6M market cap (rank 104). Provenonce (SN87) dropped 15.8% to $1.7M (rank 103), and ORO (SN15) - a more established, higher-ranked subnet - slipped 11.9% to $13.1M (rank 26). KubeTEE (SN90) fell 11.6% to $3.8M (rank 78), and Beam (SN105) declined 11.3% to $4.3M (rank 70).
New subnets
Four subnets have registered in the past 21 days, according to TaoStats. Carbon (SN116), registered 4 October, has already made headlines with this week’s sharpest gain, reaching a $2.0M market cap. SN82, which does not yet have an on-chain identity set, registered on 26 September and sits at a $1.0M market cap. ChipForge (SN108) registered earlier, on 20 September, and has a $557K market cap. The newest addition, SN92 - also without an on-chain identity set yet - registered on 9 October and carries a $265K market cap.
Where the volume went
Trading activity over the past 24 hours was led by engy (SN53), which saw 8,948 TAO change hands, worth roughly $2.7M. lium.io (SN51) followed with 6,032 TAO traded (about $1.8M), continuing a strong week for the subnet. Almanac (SN41) recorded 4,427 TAO in volume (about $1.3M), while SOMA (SN114) and Bitsec.ai (SN60) rounded out the top five with 4,113 TAO (about $1.2M) and 4,100 TAO (about $1.2M) respectively.
Emission leaders
lium.io (SN51) also topped the emission tables this week, commanding a 9.2% share of network emissions - the clear leader of the pack. Minos (SN107) and KubeTEE (SN90) were tied for second, each taking a 7.0% share, despite KubeTEE’s weaker price performance over the same period. Chutes (SN64) secured 5.8% of emissions, while Affine (SN120) took 5.1%, closing out the top five.
The close
This week’s data points to a two-speed ecosystem: established subnets like ORO and KubeTEE saw modest pullbacks even as they retain outsized emission shares, while smaller, newer subnets such as Carbon and Attune posted eye-catching percentage gains from a low base. With 128 subnets now active and four fresh registrations in the past three weeks, Bittensor’s long tail continues to expand alongside its more mature, high-emission cornerstones. All figures courtesy of TaoStats.
This is not investment advice.