Daily briefing

October 28, 2026

Archived briefing. These are the numbers as they stood on 2026-10-28 — not recalculated with today's data.

Atlas Regime

High confidence

DEFENSIVE

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

Regime history · 3d

Oct 26 → Oct 28

  1. S
  2. S
  3. D

2026-10-26: SELECTIVE. 2026-10-27: SELECTIVE. 2026-10-28: DEFENSIVE

What changed

vs Oct 27

The network tightened overnight

SELECTIVE → DEFENSIVE

Net flow went from +738 τ to -1.7K τ, while fewer subnets were bought than the day before (37 up / 65 down).

Network

Atlas RegimeSELECTIVEDEFENSIVE
Net flow+738 τ-1.7K τ
Breadth46 up / 53 down37 up / 65 down

What to watch today

signals, not recommendations
Outflow confirmed-841 τ
Score

Second day of selling · Moderate outflow

-42 τ yesterday, -841 τ today — the direction held.

Reversing+3.6K τ
Targon

Flipped to inflow · Moderate inflow

Went from -1.4K τ yesterday to +3.6K τ today.

Weakening-95 τ
REAX

Losing force · Moderate outflow

-236 τ yesterday down to -95 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 · SN23ms.computer · SN24UR · SN25Perturb · SN26Komms · SN27SayGM · SN28hoτfloaτ · SN29Endure Network · SN30rec4ll · SN31ItsAI · SN32ReadyAI · SN33Yugos · 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 · SN72Elenost · SN73Gittensor · SN74Hippius · SN75Liquidity · SN77Umi · SN78MVTRX · SN79OpenRoboto · SN80Reliquary · SN81Noah · SN82CliqueAI · SN83Vidaio · SN85Provenonce · SN87Investing · SN88InfiniteQuant · SN89KubeTEE · SN90cascade · SN91REAX · SN92Cathedral · SN94Actual · SN95Verathos · SN96Ingot · SN97NeverPlayAlone · SN98Cortex · SN100Tag101 · SN101ConnitoAI · SN102Terza Inference · SN103TAOstatus · 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.ioms.computerQuantum Compute← CAPITAL LEAVING27 subnets · -6.2K τCAPITAL ENTERING →14 subnets · +6.6K τMARKET CAP · LOG SCALENEUTRAL ±1% OF POOL
OutflowNeutralInflowExternal revenueSize = liquidity

115 mapped · 13 excluded for

Mapped subnets, from largest outflow to largest inflow: Quantum Compute: market cap $9.2M, net 24h flow -566 τ; Yanez: market cap $6.7M, net 24h flow -325 τ; Nepher Robotics: market cap $3.6M, net 24h flow -137 τ; REAX: market cap $1.6M, net 24h flow -95 τ; Enigma: market cap $7.5M, net 24h flow -399 τ; RedTeam: market cap $13M, net 24h flow -380 τ; Ditto: market cap $3.1M, net 24h flow -138 τ; Cortex: market cap $1.5M, net 24h flow -56 τ; Bitcast: market cap $17M, net 24h flow -498 τ; THOR: market cap $6.7M, net 24h flow -145 τ; ORO: market cap $11M, net 24h flow -277 τ; Bitsec.ai: market cap $4.3M, net 24h flow -121 τ; Astrid: market cap $2.0M, net 24h flow -59 τ; Elenost: market cap $3.1M, net 24h flow -122 τ; ConnitoAI: market cap $1.9M, net 24h flow -56 τ; Cathedral: market cap $1.7M, net 24h flow -32 τ; Gittensor: market cap $3.7M, net 24h flow -86 τ; Trishool: market cap $9.1M, net 24h flow -138 τ; Komms: market cap $3.0M, net 24h flow -90 τ; Perturb: market cap $0.6M, net 24h flow -19 τ; cascade: market cap $1.9M, net 24h flow -46 τ; KubeTEE: market cap $3.8M, net 24h flow -68 τ; Score: market cap $50M, net 24h flow -841 τ; Affine: market cap $48M, net 24h flow -937 τ; NOVA: market cap $23M, net 24h flow -452 τ; Liquidity: market cap $6.9M, net 24h flow -127 τ; GPUForge: market cap $0.7M, net 24h flow -10 τ; NIOME: market cap $3.6M, net 24h flow -64 τ; MVTRX: market cap $3.9M, net 24h flow -64 τ; Yugos: market cap $20M, net 24h flow -341 τ; Desearch: market cap $3.7M, net 24h flow -64 τ; TrajectoryRL: market cap $9.3M, net 24h flow -161 τ; AdTAO: market cap $6.2M, net 24h flow -69 τ; Leadpoet: market cap $4.8M, net 24h flow -39 τ; Ridges: market cap $12M, net 24h flow -211 τ; Finsight: market cap $1.0M, net 24h flow -9 τ; Nodexo: market cap $2.3M, net 24h flow -39 τ; everyframe.studio: market cap $1.3M, net 24h flow -14 τ; Pareton: market cap $6.3M, net 24h flow -82 τ; iota: market cap $31M, net 24h flow -299 τ; Verathos: market cap $1.1M, net 24h flow -12 τ; Claims: market cap $4.4M, net 24h flow -28 τ; Vanta: market cap $44M, net 24h flow -414 τ; Zeus: market cap $5.4M, net 24h flow -43 τ; Harnyx: market cap $1.2M, net 24h flow -8 τ; 404—GEN: market cap $11M, net 24h flow -74 τ; rec4ll: market cap $1.5M, net 24h flow -5 τ; UR: market cap $7.1M, net 24h flow -32 τ; Ralph: market cap $0.6M, net 24h flow -3 τ; MANTIS: market cap $2.5M, net 24h flow -15 τ; CliqueAI: market cap $7.1M, net 24h flow -21 τ; Herald: market cap $2.3M, net 24h flow -8 τ; Instant: market cap $3.6M, net 24h flow -16 τ; Chutes: market cap $108M, net 24h flow -281 τ; SOMA: market cap $11M, net 24h flow -14 τ; lium.io: market cap $156M, net 24h flow -245 τ; Teutonic: market cap $34M, net 24h flow -92 τ; InfiniteQuant: market cap $3.5M, net 24h flow -7 τ; ItsAI: market cap $4.0M, net 24h flow -7 τ; Numinous: market cap $3.3M, net 24h flow -7 τ; Actual: market cap $23M, net 24h flow -17 τ; Hippius: market cap $24M, net 24h flow -23 τ; Cacheon: market cap $11M, net 24h flow -15 τ; Hone: market cap $14M, net 24h flow -18 τ; Gradients: market cap $21M, net 24h flow -22 τ; ReadyAI: market cap $4.0M, net 24h flow -5 τ; Endure Network: market cap $4.4M, net 24h flow -1 τ; sundae_bar: market cap $2.9M, net 24h flow -1 τ; Noah: market cap $2.8M, net 24h flow -0 τ; Dojo: market cap $7.6M, net 24h flow -1 τ; AlphaRidge.ai: market cap $2.8M, net 24h flow +0 τ; blockmachine: market cap $12M, net 24h flow +5 τ; hoτfloaτ: market cap $3.6M, net 24h flow +1 τ; Data Universe: market cap $5.8M, net 24h flow +3 τ; Compute Horde: market cap $5.8M, net 24h flow +5 τ; Aurelius: market cap $3.3M, net 24h flow +3 τ; NeverPlayAlone: market cap $2.1M, net 24h flow +2 τ; Refinery: market cap $2.0M, net 24h flow +2 τ; TAOstatus: market cap $4.6M, net 24h flow +3 τ; Apex: market cap $8.3M, net 24h flow +13 τ; Graphite: market cap $5.3M, net 24h flow +7 τ; ByteLeap: market cap $3.1M, net 24h flow +3 τ; Vidaio: market cap $5.9M, net 24h flow +11 τ; CookingTAO: market cap $0.8M, net 24h flow +1 τ; Tag101: market cap $2.4M, net 24h flow +4 τ; Almanac: market cap $10M, net 24h flow +20 τ; Witness: market cap $2.8M, net 24h flow +14 τ; OpenRoboto: market cap $12M, net 24h flow +16 τ; True Performance Network: market cap $2.8M, net 24h flow +16 τ; Allways: market cap $3.1M, net 24h flow +16 τ; SayGM: market cap $43M, net 24h flow +95 τ; CapabilityForge Next: market cap $1.2M, net 24h flow +11 τ; Reliquary: market cap $6.0M, net 24h flow +60 τ; Investing: market cap $3.5M, net 24h flow +25 τ; conjectures: market cap $3.4M, net 24h flow +29 τ; Attelier: market cap $1.8M, net 24h flow +13 τ; StreetVision by NATIX: market cap $2.7M, net 24h flow +32 τ; MoirAI: market cap $1.3M, net 24h flow +19 τ; Swarm: market cap $10.0M, net 24h flow +74 τ; Minos: market cap $16M, net 24h flow +162 τ; ChronoLLM: market cap $8.1M, net 24h flow +76 τ; Synth: market cap $5.3M, net 24h flow +101 τ; engy: market cap $49M, net 24h flow +472 τ; ChipForge: market cap $0.3M, net 24h flow +9 τ; Ingot: market cap $6.6M, net 24h flow +177 τ; Attune: market cap $2.3M, net 24h flow +26 τ; Green Compute: market cap $21M, net 24h flow +243 τ; Beam: market cap $3.2M, net 24h flow +95 τ; DaniLabs: market cap $5.0M, net 24h flow +211 τ; Targon: market cap $87M, net 24h flow +3.6K τ; ms.computer: market cap $14M, net 24h flow +1.4K τ; Umi: market cap $0.9M, net 24h flow +52 τ; Provenonce: market cap $1.4M, net 24h flow +130 τ; Terza Inference: market cap $0.3M, net 24h flow +54 τ; Carbon: market cap $1.5M, net 24h flow +71 τ. The full directory with sorting and filters is at /subnets.

Network pulse

120 active subnets

Net 24h flow

-1.7K τ

buys − sells

24h volume

140.6K τ

BoughtSold
36% · 3765 · 64%
ConcentrationRest of network
44%56%
TAO $255Strongest momentum ms.computer Heating Up

Valuation pulse

Explore valuation →

Revenue-backed cap

$225M

5 subnets · live

Annualized revenue

$13M

32d old · AGING

Aggregate multiple

16.8×

cap ÷ revenue

Revenue multiple · log scale

10.7× → 258×

← Lower multipleHigher multiple →

Revenue coverage

Subnets3.9%

5 / 128

Market cap7.4%

$225M

Flow extremes

View all flows →
↓ OutflowInflow ↑

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Research, not financial advice.