TAO (Bittensor) increased by 6.44% in the last 24 hours

Gate News Bot Message, December 12th, according to CoinMarketCap data, TAO (Bittensor) is currently priced at $302.14, up 6.44% in the past 24 hours, with a high of $314.54 and a low of $270.71. The 24-hour trading volume reached $132 million. The current market capitalization is approximately $3.166 billion, an increase of $192 million from yesterday.

Recent Important News about TAO:

1️⃣ Grayscale Bittensor Trust GTAO Launches on the Secondary Market, Opening a New Gateway for Institutional Investors

Grayscale’s Bittensor Trust has begun trading on OTC Markets Group’s OTCQX secondary market, with the stock ticker GTAO. The trust’s initial assets under management are approximately $10.81 million, with a management fee rate of 2.5%. As Grayscale’s first public market offering since its establishment in August 2024, this move marks the official opening of an institutional-grade TAO investment product to a broader investor base, helping to attract traditional financial capital into the TAO ecosystem.

2️⃣ Bittensor Network Approaching Its First Halving, Significantly Relieving Supply Pressure

Bittensor will undergo its first-ever halving event on December 14th, reducing the daily issuance of TAO from 7,200 to 3,600 tokens. This supply halving mechanism helps increase token scarcity and supports price performance over the long term. Grayscale analysts pointed out that reducing supply has historically increased network value; based on Bitcoin’s four halving events, Bittensor’s first halving marks an important milestone toward network maturity.

3️⃣ Ecosystem Development Progresses and Institutional Capital Continues to Flow In

The Bittensor ecosystem is showing strong growth momentum. The dTAO mechanism (launched in February this year) allows subnets to directly invest, significantly expanding the market value of subnet-based applications. TaoWeave, a TAO treasury company, has increased its holdings by 2,439 TAO over the past month, reaching a total of 24,382 TAO, reflecting institutional confidence in TAO’s long-term value. Meanwhile, Gate’s YuBiBao platform also launched a TAO fixed-term investment product, offering lock-up periods of 7, 14, and 30 days, facilitating user participation in the TAO ecosystem and indirectly demonstrating the exchange’s positive outlook on TAO assets.

This message is not investment advice. Please be aware of market volatility risks.