Upcoming Halving for Bittensor's TAO Token: Significant Event Occurs in Under 3 Months
In the world of cryptocurrencies, the upcoming halving of TAO, the native token of Bittensor, is generating significant interest. Here's a breakdown of what this event could mean for TAO and its investors.
Historically, Bitcoin halvings have triggered strong rallies, and TAO's halving may have similar effects. According to analyst Michael van de Poppe, the halving narrative could act as a powerful catalyst, potentially setting the stage for a run toward the $1,000 mark in 2025.
However, for new subnets, the reduced Alpha_in may create challenges in filling liquidity pools. This is a factor that investors should keep in mind, as changes in tokenomics can impact the overall ecosystem.
The first halving of TAO is expected to occur around December 11, reducing daily emissions by 50%. After the halving, daily TAO emissions will be 3,600 TAO. This adjustment in Alpha emissions will also see daily emissions change to 10,800 Alpha.
Currently, TAO is trading around $337, with a 24h volatility of 4.8%. If TAO breaks above the 20-day EMA, van de Poppe suggests it could initiate a strong rally. If this happens, momentum could push TAO toward $440 and beyond.
On the other hand, a breakdown below $250 would weaken bullish sentiment ahead of the halving. Extended weakness might push TAO further down toward $250. Failure to hold the $300 support could result in TAO retesting $280.
The daily chart shows TAO moving within a tightening triangle pattern, which could indicate a potential breakout in either direction. It's important to note that market conditions can change rapidly, so it is recommended to verify information and consult with a professional before making decisions based on this content.
The forecast that TAO could be one of the best cryptocurrencies to buy for investments in 2025 was published by Jake Morrison on the BlockDAG Network blog in November 2024. Bittensor, with TAO $338.6, is one of the potential cryptocurrencies to buy in 2025.
However, it's crucial to remember that this article aims to deliver accurate and timely information but should not be taken as financial or investment advice. The halving will not cause a direct price shock, but the market could see upward pressure if demand stays strong.
In conclusion, the TAO halving promises an exciting time for investors and the cryptocurrency community. As always, it's essential to conduct thorough research and consider professional advice before making any investment decisions.
Read also:
- Understanding Hemorrhagic Gastroenteritis: Key Facts
- Stopping Osteoporosis Treatment: Timeline Considerations
- Trump's Policies: Tariffs, AI, Surveillance, and Possible Martial Law
- Expanded Community Health Involvement by CK Birla Hospitals, Jaipur, Maintained Through Consistent Outreach Programs Across Rajasthan
