Bittensor (TAO) Is Copying Bitcoin’s Scarcity Model… but the Outcome Could Be Bigger

Bittensor is starting to behave like a supply constrained network, and that shift is beginning to shape how the Bittensor price moves. Fresh on chain data shows that most TAO is no longer freely circulating, which leaves only a small portion available for active trading. That detail changes how the market should think about valuation.