Grayscale: Bittensor halving next week is expected to drive up TAO token prices

PANews, December 8—According to The Block, Grayscale Research analyst Will Ogden Moore stated: “Bitcoin’s history shows that even with reduced rewards, a decrease in supply can enhance network value, as Bitcoin’s network security and market value have been strengthened through four consecutive halvings. Similarly, Bittensor’s first halving marks an important milestone in the network’s maturation as it moves toward a supply cap of 21 million tokens.” Moore noted that Bittensor is currently experiencing strong adoption momentum, with institutional interest continuing to rise.

Moore pointed out that dTAO, launched in February this year, is a major achievement for Bittensor. This mechanism allows subnets to receive direct investment, resulting in a significant expansion of the total market capitalization of these subnets. Moore wrote: “We believe that the early success of certain subnet-based applications, the increase of institutional capital within the Bittensor ecosystem, and the upcoming TAO supply halving could all serve as positive catalysts driving price appreciation.”

Previously, it was reported that Bittensor will undergo its first halving on December 14, at which point the daily issuance of TAO will be reduced to 3,600 tokens.