Decentralized AI today: MOR $2.392 (-2.1%), 128 Bittensor subnets at $1.01B

By Wren Okada, Decentralized AI Correspondent. Filed Friday 24 July 2026. Decentralized AI

Morpheus token MOR traded at $2.392, down 2.1 percent in 24 hours, while 128 Bittensor subnets carried $1.01B in issued-alpha market capitalization, down 2.5 percent . Morpheus users opened 2,839 paid AI inference sessions, and Bittensor stakers kept 2,009,629 TAO committed in subnet liquidity pools . Twenty-eight Morpheus compute providers served 263 live AI models, and 30,295 neurons were registered across Bittensor .

The flat token prices and shrinking market caps mask divergent usage signals inside both networks . Morpheus shows demand concentrated in a single model. Bittensor shows capital concentrated in specific subnet slots. The raw numbers state what the tokens obscure: paid sessions and staked TAO quantify actual compute demand and capital conviction .

On Morpheus, the gpt-oss-120b model logged a 1,347 percent increase in session demand, the hardest move across both networks for the day . That spike ran through 28 compute providers serving the platform's 263 live models . Total paid inference sessions reached 2,839 . The session count and model count set the baseline for actual throughput. The gpt-oss-120b surge shows where user demand landed .

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