Daily briefing

October 20, 2026

Archived briefing. These are the numbers as they stood on 2026-10-20 — not recalculated with today's data.

Atlas Regime

Medium confidence

SELECTIVE

The network is moving, but not together — more subnets are being sold than bought.

What changed

vs Oct 19

The network eased overnight

DEFENSIVE → SELECTIVE

Net flow narrowed 61% to -2.9K τ, while buyers and sellers stayed close to balanced at 33 up / 61 down.

Network

Atlas RegimeDEFENSIVESELECTIVE
Net flow-7.5K τ-2.9K τ (↑ 61%)

What to watch today

signals, not recommendations
Inflow confirmed+1.5K τ
Vanta

Second day of buying · Moderate inflow

+142 τ yesterday, +1.5K τ today — the direction held.

Reversing-580 τ
Green Compute

Flipped to outflow · Strong outflow

Went from +235 τ yesterday to -580 τ today.

Weakening-869 τ
Teutonic

Losing force · Moderate outflow

-1.9K τ yesterday down to -869 τ today — same direction, roughly half the size.

Atlas Map

Capital movement across the subnet economy

$1.0M$10M$100MApex · SN1DaniLabs · SN2Teutonic · SN3Hone · SN5Numinous · SN6Allways · SN7iota · SN9Pareton · SN10TrajectoryRL · SN11Compute Horde · SN12Data Universe · SN13Cacheon · SN14ORO · SN15404—GEN · SN17Zeus · SN18blockmachine · SN19Witness · SN20AdTAO · SN21Desearch · SN22Trishool · SN23Quasar · SN24UR · SN25Perturb · SN26Orion · SN27SayGM · SN28hoτfloaτ · SN29Endure Network · SN30rec4ll · SN31ItsAI · SN32ReadyAI · SN33BitMind · SN34Aurelius · SN37ChronoLLM · SN38Ralph · SN40Graphite · SN43Score · SN44AlphaRidge.ai · SN45Instant · SN46GPUForge · SN47Quantum Compute · SN48Nepher Robotics · SN49Synth · SN50Dojo · SN52engy · SN53Yanez · SN54NIOME · SN55Gradients · SN56Attune · SN58Bitsec.ai · SN60RedTeam · SN61Ridges · SN62Enigma · SN63True Performance Network · SN65conjectures · SN66Harnyx · SN67NOVA · SN68Herald · SN69Leadpoet · SN71StreetVision by NATIX · SN72Parked · SN73Gittensor · SN74Hippius · SN75Liquidity · SN77Umi · SN78MVTRX · SN79OpenRoboto · SN80Reliquary · SN81Noah · SN82CliqueAI · SN83Vidaio · SN85Provenonce · SN87Investing · SN88InfiniteQuant · SN89KubeTEE · SN90cascade · SN91REAX · SN92Cathedral · SN94Actual · SN95Verathos · SN96Ingot · SN97NeverPlayAlone · SN98Thirty Spokes · SN99Cortex · SN100Tag101 · SN101ConnitoAI · SN102TAOstatus · SN104Beam · SN105Nodexo · SN106Minos · SN107ChipForge · SN108Finsight · SN109Green Compute · SN110Claims · SN111THOR · SN112SOMA · SN114MoirAI · SN115Carbon · SN116everyframe.studio · SN117CapabilityForge Next · SN119Affine · SN120sundae_bar · SN121CookingTAO · SN122MANTIS · SN123Swarm · SN124Refinery · SN125Attelier · SN126Astrid · SN127ByteLeap · SN128Targon · SN4Vanta · SN8Almanac · SN41lium.io · SN51Chutes · SN64Bitcast · SN93Ditto · SN118lium.ioChutesTargonVantaBitcastAlmanacDittoNIOMEPerturb← CAPITAL LEAVING28 subnets · -6.3K τCAPITAL ENTERING →14 subnets · +5.7K τMARKET CAP · LOG SCALENEUTRAL ±1% OF POOL
OutflowNeutralInflowExternal revenueSize = liquidity

115 mapped · 13 excluded for

Mapped subnets, from largest outflow to largest inflow: Perturb: market cap $0.9M, net 24h flow -166 τ; Leadpoet: market cap $5.9M, net 24h flow -269 τ; Umi: market cap $0.9M, net 24h flow -89 τ; REAX: market cap $2.2M, net 24h flow -209 τ; Green Compute: market cap $20M, net 24h flow -580 τ; DaniLabs: market cap $4.5M, net 24h flow -402 τ; Finsight: market cap $1.3M, net 24h flow -73 τ; Yanez: market cap $7.4M, net 24h flow -389 τ; Beam: market cap $3.2M, net 24h flow -182 τ; SOMA: market cap $12M, net 24h flow -376 τ; Cortex: market cap $1.6M, net 24h flow -81 τ; OpenRoboto: market cap $15M, net 24h flow -199 τ; Instant: market cap $4.3M, net 24h flow -234 τ; CookingTAO: market cap $0.8M, net 24h flow -33 τ; Provenonce: market cap $1.3M, net 24h flow -31 τ; Quasar: market cap $11M, net 24h flow -258 τ; UR: market cap $7.6M, net 24h flow -242 τ; Aurelius: market cap $3.5M, net 24h flow -143 τ; engy: market cap $54M, net 24h flow -772 τ; MoirAI: market cap $1.4M, net 24h flow -64 τ; Nodexo: market cap $2.5M, net 24h flow -96 τ; Ditto: market cap $3.4M, net 24h flow -84 τ; Bitsec.ai: market cap $5.0M, net 24h flow -111 τ; Trishool: market cap $5.8M, net 24h flow -125 τ; Attune: market cap $1.3M, net 24h flow -15 τ; Orion: market cap $2.9M, net 24h flow -83 τ; Teutonic: market cap $35M, net 24h flow -869 τ; ORO: market cap $11M, net 24h flow -164 τ; Bitcast: market cap $22M, net 24h flow -229 τ; Pareton: market cap $7.0M, net 24h flow -131 τ; ChronoLLM: market cap $11M, net 24h flow -77 τ; Affine: market cap $49M, net 24h flow -596 τ; NOVA: market cap $25M, net 24h flow -321 τ; Reliquary: market cap $6.4M, net 24h flow -114 τ; ReadyAI: market cap $4.2M, net 24h flow -83 τ; blockmachine: market cap $13M, net 24h flow -208 τ; ConnitoAI: market cap $2.3M, net 24h flow -22 τ; Enigma: market cap $5.5M, net 24h flow -62 τ; Hippius: market cap $24M, net 24h flow -192 τ; True Performance Network: market cap $3.0M, net 24h flow -29 τ; AlphaRidge.ai: market cap $2.9M, net 24h flow -29 τ; everyframe.studio: market cap $1.6M, net 24h flow -12 τ; Vidaio: market cap $7.0M, net 24h flow -58 τ; Cacheon: market cap $11M, net 24h flow -109 τ; Liquidity: market cap $7.2M, net 24h flow -35 τ; BitMind: market cap $18M, net 24h flow -96 τ; ItsAI: market cap $4.2M, net 24h flow -18 τ; Chutes: market cap $109M, net 24h flow -485 τ; cascade: market cap $1.6M, net 24h flow -7 τ; sundae_bar: market cap $3.1M, net 24h flow -13 τ; AdTAO: market cap $5.9M, net 24h flow -18 τ; Cathedral: market cap $2.0M, net 24h flow -5 τ; ChipForge: market cap $0.3M, net 24h flow -1 τ; rec4ll: market cap $1.7M, net 24h flow -3 τ; Gradients: market cap $21M, net 24h flow -81 τ; Zeus: market cap $5.6M, net 24h flow -15 τ; Harnyx: market cap $1.3M, net 24h flow -3 τ; Verathos: market cap $1.2M, net 24h flow -3 τ; Ralph: market cap $0.6M, net 24h flow -1 τ; Score: market cap $54M, net 24h flow -69 τ; Synth: market cap $5.7M, net 24h flow -10 τ; Compute Horde: market cap $6.0M, net 24h flow -11 τ; Hone: market cap $15M, net 24h flow -28 τ; Tag101: market cap $2.6M, net 24h flow -1 τ; Data Universe: market cap $6.1M, net 24h flow -5 τ; GPUForge: market cap $0.7M, net 24h flow -0 τ; Apex: market cap $8.8M, net 24h flow -5 τ; TAOstatus: market cap $4.8M, net 24h flow -1 τ; 404—GEN: market cap $12M, net 24h flow -2 τ; Parked: market cap $3.4M, net 24h flow -0 τ; ByteLeap: market cap $3.3M, net 24h flow -0 τ; Numinous: market cap $3.4M, net 24h flow -0 τ; hoτfloaτ: market cap $3.8M, net 24h flow +0 τ; StreetVision by NATIX: market cap $2.8M, net 24h flow +1 τ; CapabilityForge Next: market cap $1.3M, net 24h flow +1 τ; Witness: market cap $2.8M, net 24h flow +2 τ; Claims: market cap $4.6M, net 24h flow +2 τ; Gittensor: market cap $3.7M, net 24h flow +3 τ; lium.io: market cap $144M, net 24h flow +85 τ; MVTRX: market cap $3.9M, net 24h flow +4 τ; InfiniteQuant: market cap $3.5M, net 24h flow +4 τ; Allways: market cap $3.2M, net 24h flow +4 τ; Ridges: market cap $13M, net 24h flow +23 τ; Graphite: market cap $5.4M, net 24h flow +11 τ; iota: market cap $31M, net 24h flow +49 τ; CliqueAI: market cap $7.4M, net 24h flow +9 τ; Targon: market cap $83M, net 24h flow +167 τ; Refinery: market cap $2.3M, net 24h flow +9 τ; Endure Network: market cap $4.6M, net 24h flow +19 τ; Actual: market cap $27M, net 24h flow +64 τ; Dojo: market cap $7.8M, net 24h flow +46 τ; Carbon: market cap $1.4M, net 24h flow +5 τ; Astrid: market cap $1.7M, net 24h flow +12 τ; Desearch: market cap $3.9M, net 24h flow +38 τ; RedTeam: market cap $17M, net 24h flow +75 τ; MANTIS: market cap $2.6M, net 24h flow +39 τ; Noah: market cap $2.6M, net 24h flow +18 τ; NeverPlayAlone: market cap $2.2M, net 24h flow +33 τ; Investing: market cap $3.8M, net 24h flow +42 τ; TrajectoryRL: market cap $9.1M, net 24h flow +160 τ; conjectures: market cap $3.6M, net 24h flow +62 τ; Ingot: market cap $6.7M, net 24h flow +131 τ; Quantum Compute: market cap $7.2M, net 24h flow +154 τ; Nepher Robotics: market cap $4.5M, net 24h flow +59 τ; Herald: market cap $2.4M, net 24h flow +62 τ; Vanta: market cap $45M, net 24h flow +1.5K τ; Swarm: market cap $10M, net 24h flow +229 τ; THOR: market cap $5.7M, net 24h flow +123 τ; Thirty Spokes: market cap $0.4M, net 24h flow +10 τ; Minos: market cap $18M, net 24h flow +542 τ; KubeTEE: market cap $4.4M, net 24h flow +163 τ; SayGM: market cap $46M, net 24h flow +1.2K τ; Almanac: market cap $10M, net 24h flow +699 τ; NIOME: market cap $3.7M, net 24h flow +634 τ; Attelier: market cap $2.1M, net 24h flow +220 τ. The full directory with sorting and filters is at /subnets.

Network pulse

120 active subnets

Net 24h flow

-2.9K τ

buys − sells

24h volume

183.8K τ

BoughtSold
35% · 3361 · 65%
ConcentrationRest of network
31%69%
TAO $263Strongest momentum NIOME Active

Valuation pulse

Explore valuation →

Revenue-backed cap

$417M

7 subnets · live

Annualized revenue

$25M

215d old · STALE

Aggregate multiple

16.4×

cap ÷ revenue

Revenue multiple · log scale

11.4× → 287×

← Lower multipleHigher multiple →

Revenue coverage

Subnets5.5%

7 / 128

Market cap13.4%

$417M

Flow extremes

View all flows →
↓ OutflowInflow ↑

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Research, not financial advice.