Bittensor subnet annualized revenue reached about $70 million, up from $35 million two months earlier, marking a 40% increase month over month. Eighteen subnets released something new during the last week of October, while Targon bought back and burned 8,450 TAO, worth approximately $2.1 million. The TAO token rose to $237.4 after reaching a peak near $239.5, with the rally primarily driven by spot buyers. Futures traders remained cautious, as open interest stayed near $137 million and funding was almost flat. The revenue nevertheless depends on token emissions and does not guarantee that this growth pace or improved margins will be sustained.
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