The Bittensor network today: 128 subnets, $1.04B in alpha market cap; Mainframe (netuid 25) led the movers at +30.0%

By Wren Okada, Decentralized AI Correspondent. Filed Thursday 23 July 2026. Decentralized AI

Bittensor carried 128 active subnets with a combined issued-alpha market capitalization of $1.04B on 2026-07-23 . Mainframe (netuid 25) led the day's movers at +30.0% . The total alpha market capitalization contracted -1.4% versus the prior day's $1.05B, even as the weekly trend held a +5.6% gain from $982.43M on 2026-07-17 .

A $1.04B network capitalization across 128 subnets quantifies the current emission allocation surface . Subnet liquidity pools held 2,010,021 TAO in total, while 30,286 neurons were registered across the network . These concrete units define the capital depth and validator capacity available to the protocol today . A separate supply signal emerged as 21 subnet owners materially unwound Conviction locks, a supply-overhang signal .

Mainframe (netuid 25) gained +30.0% on the day . engy (netuid 53) followed at +22.1%, and Thirty Spokes (netuid 99) rose +21.5% . The steepest declines hit greevils (netuid 58) at -13.5%, Orion (netuid 27) at -12.3%, and Ditto (netuid 118) at -11.9% . The largest subnets by market cap were Chutes (netuid 64) at $91.81M, lium.io (netuid 51) at $64.84M, and Targon (netuid 4) at $61.75M .

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