The First Halving of the Project is Approaching! How Will It Affect the Price? Details!
The decentralized network Bittensor is preparing to complete its four-year initial cycle with the first halving event taking place on December 14.
Bittensor's First Halving is Approaching: A Reduction of TAO Supply by Half Could Initiate a New Era for Prices
With this critical update, the daily supply of the network's native token TAO will drop from 7,200 to 3,600, thus halving token production.
Bittensor operates as an open network positioned at the intersection of artificial intelligence and cryptocurrency. Users can contribute to various AI tasks, enhancing the artificial intelligence systems, and receive TAO token rewards based on the benefits of their contributions.
Currently, there are 129 active subnets on the network. These subnets offer a wide range of AI-based services such as computing power, data storage, artificial intelligence agents, and deepfake detection.
With the halving reducing the TAO supply, a higher scarcity of the token is expected to create a positive impact on the price within market dynamics. Grayscale research analyst Will Ogden Moore notes, referencing Bitcoin's past halving experiences, that "the reduced supply over time has strengthened the value of the network as seen in Bitcoin."
According to Moore, Bittensor's first halving will also be an important milestone in the network's maturation process and marks the beginning of the path toward a maximum supply of 21 million TAO.
Grayscale also emphasizes a significant increase in institutional interest in the Bittensor ecosystem. The dynamic TAO (dTAO) mechanism introduced in February has created a strong expansion in the total market value of this area by making subnets directly investable.
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