Bittensor’s halving next week expected to boost TAO price, Grayscale says
Grayscale predicts Bittensor’s upcoming halving will reduce TAO token supply and potentially increase its price, citing Bitcoin’s historical precedent.Summary
Bittensor, a decentralized AI network, is preparing for its first halving event on December 14th, which will reduce the daily issuance of its native token, TAO, from 7,200 to 3,600. This halving is expected to increase the scarcity of TAO and potentially boost its price. Grayscale Research Analyst Will Ogden Moore notes the historical correlation between Bitcoin halvings and increased network value, suggesting a similar effect for Bittensor. The network has 129 active subnets offering AI services, and the launch of dynamic TAO (dTAO) has attracted institutional investment from firms like Yuma Asset Management and Stillcore Capital, with some public companies also establishing TAO treasuries. Moore believes the combination of subnet success, institutional capital, and the halving event could positively impact the price of TAO, which is currently trading at $282.31.
(Source：The Block)