Grayscale: Bittensor's halving next week is expected to drive up the price of TAO tokens

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 towards a supply cap of 21 million tokens."

Moore noted that Bittensor is currently experiencing strong adoption momentum, with institutional interest on the rise. Moore pointed out that the dTAO launched in February this year is a significant achievement for Bittensor. This mechanism allows subnets to be directly invested in, leading to a substantial 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 in the Bittensor ecosystem, and the upcoming TAO supply halving could all serve as positive catalysts for driving prices higher."

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