The specialized analytical team at Grayscale Research, operating under Grayscale Investments, the world's largest digital asset manager, identified the decentralized AI network Bittensor (TAO) as a token with growth potential in the near future, pointing to its first-ever halving as a key catalyst for price growth.
Bittensor, an open network connecting artificial intelligence and cryptocurrency incentives, positively concluded its first token halving on December 14-15. This event reduces the daily emission of TAO from 7200 to 3600 tokens, indicating
At the conclusion of the first four-year cycle of the project, and significantly slow the growth of new supply, the block reward will also drop to 0.5 TAO.
Grayscale Research analyst Will Ogden Moore argues that this structural change in token issuance could positively impact TAO's market performance in the long term.
Built as a decentralized AI project that connects machine learning models from around the world, creating a shared intelligent market. The network consists of specialized subnets handling various tasks, from generating images, analyzing financial data and storing it, providing computing power, training AI models, and verifying the quality of responses as well as detecting deepfakes.
The ecosystem has grown to around 129 active specialized subnets, and rewards are distributed based on the utility of the results from each participant.
According to Moore, the combination of reduced supply along with increasing utilization of subnets in the real world and new institutional capital creates a "potentially strong growth catalyst" for the value of TAO. Market data indicates TAO quotes in the range of 300–250 dollars, significantly below its monthly highs – leaving room for a narrative-driven rebound, according to Grayscale, if the halving narrative gains popularity.
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