PANews reported on December 8th that, 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 a significant milestone in the network's maturation as it moves towards its 21 million token supply cap." 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 in 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 halving of TAO supply could all be positive catalysts for price increases."
According to previous reports, Bittensor will undergo its first halving on December 14, at which time the daily issuance of TAO will be reduced to 3,600 tokens .