$TAO Down 5.4% to 291.4U.
If you're looking to buy the dip, take note: Grayscale recently amended the S-1 filing for its TAO Trust again, but the SEC hasn't approved it yet.
Also, after last December's halving, daily issuance fell from 7,200 tokens to 3,600, so supply is indeed tightening.
【Bearish Thesis】
Lockups and halvings are slow-moving factors; institutional narratives are the fast-moving ones.
In the short term, watch 286U. If it doesn't hold, the bottom may be lower.
Don't rush to buy the dip just because of the halving. Wait for the price to give you the answer.
If you're looking to buy the dip, take note: Grayscale recently amended the S-1 filing for its TAO Trust again, but the SEC hasn't approved it yet.
Also, after last December's halving, daily issuance fell from 7,200 tokens to 3,600, so supply is indeed tightening.
【Bearish Thesis】
Lockups and halvings are slow-moving factors; institutional narratives are the fast-moving ones.
In the short term, watch 286U. If it doesn't hold, the bottom may be lower.
Don't rush to buy the dip just because of the halving. Wait for the price to give you the answer.