$TAO Down 80%, but is the Bittensor ecosystem really getting worse?
TAO has fallen more than 80% from its peak, and the price certainly doesn’t look good. But interestingly, commercial revenue across the Bittensor ecosystem continues to grow.

According to SubConnect data, annualized external revenue from Bittensor subnets grew from about $35 million in early September to around $50 million in October. It has now reached nearly $70 million, doubling in just two months.
#币安将恢复更多资产提现
Revenue mainly comes from compute rentals and AI inference services, suggesting the ecosystem is gradually moving beyond pure speculation toward real-world commercial applications.
#美股走弱，加密货币市场普遍承压
Of course, don’t rush to declare a reversal. Ecosystem revenue still falls well short of the more than $300 million in tokens released each year. What really matters isn’t just revenue growth, but whether that revenue can continue to expand and ultimately be reflected in TAO’s value.

[我的看法：价格可以跌，但生态不能停。TAO接下来要证明的，是它到底有没有真实的商业价值。](https://app.binance.com/uni-qr/4QX1coiY)