The crypto market rose by over 1.4% over the past day. However, Bittensor (TAO) missed the market-wide recovery.

The token dropped over 9% over the past 24 hours. The decline made TAO the worst-performing top-100 cryptocurrency by market cap. At press time, it traded at $292.

The selloff followed Covenant AI’s announcement that it is leaving the Bittensor network. The team operated three subnets, Templar (SN3), Basilica (SN39), and Grail (SN81), making it one of the protocol’s most prominent contributors.

Sam Dare, the founder of Covenant AI, cited concerns about decentralization as the reason for the departure. In a public statement, Dare accused Bittensor…