On December 8th, 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 a significant milestone in the network's maturation as it moves towards its supply cap of 21 million tokens." Moore added that Bittensor is currently experiencing strong adoption momentum, with institutional interest steadily increasing.
Moore points out that the launch of dTAO in February this year is a major achievement for Bittensor. This mechanism allows direct investment in subnets, leading to a significant expansion of the total market capitalization of these subnets. Moore writes, "We believe that the early success of certain subnet-based applications, the increase in institutional capital in the Bittensor ecosystem, and the upcoming TAO supply halving could all be positive catalysts for price increases." (The Block)
