Daily briefing

October 23, 2026

Archived briefing. These are the numbers as they stood on 2026-10-23 — not recalculated with today's data.

Atlas Regime

High confidence

DEFENSIVE

Capital is leaving subnets broadly — more subnets are being sold than bought.

What changed

vs Oct 22

Outflow deepened

Net flow widened 88% to -6.9K τ, while fewer subnets were bought than the day before (25 up / 79 down).

Network

Net flow-3.7K τ-6.9K τ (↓ 88%)
Breadth44 up / 60 down25 up / 79 down

What to watch today

signals, not recommendations
Outflow confirmed-821 τ
RedTeam

Second day of selling · Strong outflow

-300 τ yesterday, -821 τ today — the direction held.

Reversing-1.2K τ
Vanta

Flipped to outflow · Moderate outflow

Went from +1.0K τ yesterday to -1.2K τ today.

Weakening-64 τ
ConnitoAI

Losing force · Moderate outflow

-150 τ yesterday down to -64 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 · SN7Vanta · SN8iota · 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 · SN50lium.io · SN51Dojo · 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 · SN98Cortex · 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 · SN4Almanac · SN41Chutes · SN64Bitcast · SN93Ditto · SN118ChutesTargonBitcastAlmanacDittolium.ioTrishoolUmi← CAPITAL LEAVING46 subnets · -11.0K τCAPITAL ENTERING →12 subnets · +3.4K τMARKET CAP · LOG SCALENEUTRAL ±1% OF POOL
OutflowNeutralInflowExternal revenueSize = liquidity

114 mapped · 14 excluded for

Mapped subnets, from largest outflow to largest inflow: ChronoLLM: market cap $10.0M, net 24h flow -648 τ; Umi: market cap $0.8M, net 24h flow -88 τ; Cathedral: market cap $1.8M, net 24h flow -147 τ; Beam: market cap $2.9M, net 24h flow -273 τ; everyframe.studio: market cap $1.4M, net 24h flow -189 τ; RedTeam: market cap $16M, net 24h flow -821 τ; AdTAO: market cap $6.0M, net 24h flow -486 τ; OpenRoboto: market cap $13M, net 24h flow -331 τ; Provenonce: market cap $1.1M, net 24h flow -72 τ; Vidaio: market cap $6.3M, net 24h flow -620 τ; SayGM: market cap $41M, net 24h flow -1.2K τ; Nepher Robotics: market cap $3.9M, net 24h flow -177 τ; REAX: market cap $2.1M, net 24h flow -122 τ; Ditto: market cap $3.0M, net 24h flow -171 τ; Finsight: market cap $1.2M, net 24h flow -48 τ; NIOME: market cap $3.3M, net 24h flow -164 τ; cascade: market cap $1.5M, net 24h flow -77 τ; Aurelius: market cap $3.4M, net 24h flow -167 τ; KubeTEE: market cap $3.8M, net 24h flow -115 τ; Ingot: market cap $6.5M, net 24h flow -249 τ; Pareton: market cap $6.4M, net 24h flow -319 τ; Swarm: market cap $10M, net 24h flow -278 τ; Actual: market cap $24M, net 24h flow -550 τ; DaniLabs: market cap $4.7M, net 24h flow -175 τ; Leadpoet: market cap $5.1M, net 24h flow -104 τ; ConnitoAI: market cap $1.9M, net 24h flow -64 τ; AlphaRidge.ai: market cap $2.8M, net 24h flow -114 τ; Cortex: market cap $1.5M, net 24h flow -38 τ; BitMind: market cap $18M, net 24h flow -627 τ; MANTIS: market cap $2.5M, net 24h flow -95 τ; Tag101: market cap $2.5M, net 24h flow -58 τ; Bitcast: market cap $21M, net 24h flow -381 τ; Attelier: market cap $1.8M, net 24h flow -35 τ; Harnyx: market cap $1.3M, net 24h flow -35 τ; Vanta: market cap $45M, net 24h flow -1.2K τ; TrajectoryRL: market cap $8.6M, net 24h flow -256 τ; Attune: market cap $2.0M, net 24h flow -16 τ; ByteLeap: market cap $3.2M, net 24h flow -52 τ; Verathos: market cap $1.2M, net 24h flow -28 τ; Bitsec.ai: market cap $4.7M, net 24h flow -73 τ; Herald: market cap $2.3M, net 24h flow -39 τ; ORO: market cap $10M, net 24h flow -145 τ; Instant: market cap $4.3M, net 24h flow -86 τ; GPUForge: market cap $0.7M, net 24h flow -10 τ; CapabilityForge Next: market cap $1.3M, net 24h flow -32 τ; Astrid: market cap $1.7M, net 24h flow -29 τ; Hippius: market cap $23M, net 24h flow -317 τ; Refinery: market cap $2.2M, net 24h flow -48 τ; StreetVision by NATIX: market cap $2.8M, net 24h flow -57 τ; MoirAI: market cap $1.4M, net 24h flow -29 τ; Investing: market cap $3.6M, net 24h flow -49 τ; Affine: market cap $47M, net 24h flow -621 τ; Nodexo: market cap $2.7M, net 24h flow -43 τ; NOVA: market cap $24M, net 24h flow -274 τ; NeverPlayAlone: market cap $2.2M, net 24h flow -31 τ; Zeus: market cap $5.5M, net 24h flow -50 τ; UR: market cap $7.4M, net 24h flow -57 τ; ChipForge: market cap $0.3M, net 24h flow -3 τ; sundae_bar: market cap $3.0M, net 24h flow -24 τ; Ralph: market cap $0.6M, net 24h flow -5 τ; SOMA: market cap $12M, net 24h flow -39 τ; Endure Network: market cap $4.5M, net 24h flow -30 τ; Liquidity: market cap $7.2M, net 24h flow -38 τ; Ridges: market cap $13M, net 24h flow -86 τ; Desearch: market cap $3.8M, net 24h flow -20 τ; ItsAI: market cap $4.2M, net 24h flow -17 τ; 404—GEN: market cap $12M, net 24h flow -54 τ; Apex: market cap $8.7M, net 24h flow -48 τ; Numinous: market cap $3.3M, net 24h flow -13 τ; Hone: market cap $15M, net 24h flow -62 τ; Gittensor: market cap $3.6M, net 24h flow -10 τ; Cacheon: market cap $11M, net 24h flow -41 τ; Score: market cap $52M, net 24h flow -75 τ; Teutonic: market cap $34M, net 24h flow -76 τ; CookingTAO: market cap $0.8M, net 24h flow -1 τ; Reliquary: market cap $6.3M, net 24h flow -13 τ; InfiniteQuant: market cap $3.5M, net 24h flow -4 τ; TAOstatus: market cap $4.8M, net 24h flow -4 τ; Data Universe: market cap $6.0M, net 24h flow -9 τ; Compute Horde: market cap $5.9M, net 24h flow -5 τ; engy: market cap $50M, net 24h flow -14 τ; rec4ll: market cap $1.6M, net 24h flow -0 τ; Chutes: market cap $111M, net 24h flow -30 τ; Parked: market cap $3.4M, net 24h flow -0 τ; Dojo: market cap $7.8M, net 24h flow +1 τ; Allways: market cap $3.1M, net 24h flow +1 τ; CliqueAI: market cap $7.3M, net 24h flow +2 τ; hoτfloaτ: market cap $3.8M, net 24h flow +3 τ; Enigma: market cap $5.5M, net 24h flow +4 τ; Graphite: market cap $5.4M, net 24h flow +5 τ; Claims: market cap $4.6M, net 24h flow +9 τ; blockmachine: market cap $13M, net 24h flow +58 τ; ReadyAI: market cap $4.1M, net 24h flow +27 τ; Minos: market cap $17M, net 24h flow +46 τ; Perturb: market cap $0.7M, net 24h flow +4 τ; Green Compute: market cap $21M, net 24h flow +35 τ; Targon: market cap $83M, net 24h flow +560 τ; Witness: market cap $2.9M, net 24h flow +29 τ; lium.io: market cap $147M, net 24h flow +1.3K τ; iota: market cap $32M, net 24h flow +391 τ; Gradients: market cap $22M, net 24h flow +373 τ; Synth: market cap $5.4M, net 24h flow +93 τ; Almanac: market cap $10M, net 24h flow +194 τ; True Performance Network: market cap $3.2M, net 24h flow +75 τ; conjectures: market cap $3.4M, net 24h flow +83 τ; Yanez: market cap $7.2M, net 24h flow +160 τ; THOR: market cap $6.6M, net 24h flow +150 τ; Quantum Compute: market cap $7.4M, net 24h flow +300 τ; Noah: market cap $2.8M, net 24h flow +91 τ; MVTRX: market cap $4.1M, net 24h flow +254 τ; Quasar: market cap $12M, net 24h flow +506 τ; Carbon: market cap $1.4M, net 24h flow +69 τ; Trishool: market cap $9.1M, net 24h flow +1.1K τ; Orion: market cap $3.3M, net 24h flow +402 τ. The full directory with sorting and filters is at /subnets.

Network pulse

120 active subnets

Net 24h flow

-6.9K τ

buys − sells

24h volume

164.7K τ

BoughtSold
24% · 2579 · 76%
ConcentrationRest of network
29%71%
TAO $260Strongest momentum Trishool Heating Up

Valuation pulse

Explore valuation →

Revenue-backed cap

$228M

5 subnets · live

Annualized revenue

$13M

32d old · AGING

Aggregate multiple

17.0×

cap ÷ revenue

Revenue multiple · log scale

10.3× → 254×

← Lower multipleHigher multiple →

Revenue coverage

Subnets3.9%

5 / 128

Market cap7.4%

$228M

Flow extremes

View all flows →
↓ OutflowInflow ↑

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Research, not financial advice.