Bittensor Leads AI Coins With 11% Gains As Halving Nears: Is $750 Now Possible?

Bittensor (TAO), which was the largest capped AI crypto coin over the past 24 hours, led the entire sector with more than 11% gains in the same period. This followed the sector’s general rebound as the previous week came to a close.

This rebound was fueled by the official integration of AI payments through Coinbase’s dedicated protocol, x402, leading to a general market resurgence.

As TAO leads in this resurgence, there were more factors like the upcoming halving event and spike in total number of transfers contributing to this. Combining all these, the $750 mark became possible if the previous rally in AI crypto coins were to repeat.

Bittensor Price Prediction: Can TAO Hit $750 After Leading AI Coins by Daily Gains?

Bittensor price led with 11% gains on the day, with the altcoin recovering the $400 support zone. This indicated a new wave of bullishness, but there was still a hurdle to this outlook.

The recent escape from the falling structure may lead TAO toward $490, the current existing resistance. The steady upswing of the lows and breakout candles indicated the dominance of bulls.

However, to reach $570 and $750, TAO must not only breach the resistance but also sustain the momentum of AI crypto coins. Interestingly, the last quarter is typically bullish for crypto, but that was not the case this time.

Alternatively, a decline approaching the $450 – $480 area may initiate a short-term correction and test the $360 level again as support.

It’s crucial to keep the price above $400 to gain more advantages. However, if it drops below that, TAO could face bigger drops down to around $300 if the market weakens again.

How Could TAO Halving Propel Price in Q4?

Aside from the structural shift being experienced in TAO, the Bittensor price was also being fueled by the upcoming halving event. The AI crypto coin emulates Bitcoin (BTC) in terms of total supply and control mechanism for the token generation.

As per Bittensor Halving website, there were about 44 days remaining before this event as of press time. Thus, the reduction in mining rewards was scheduled for December. The data showed there were about 10.68 TAO in circulation, which accounted for about 48% of the total.

In fact, this daily TAO emission would be reduced to 3,600 from the current 7,200 as seen in the chart. This creates scarcity, as fewer coins would be generated as compared to pre-halving, controlling the circulating supply in the next four years.

With that in mind, the prices of TAO could rally, especially if demand rises. This puts the $750 target within reach, but the general crypto market needs to align with a bullish sentiment.

Total Number of Transfers Hit New Peak

Last but not least, other on-chain metrics were indicating a further spike in activity on this major AI infrastructure. The total number of transfers surpassed the 4 million mark. The value has been in consistent growth since the late days of March this year.

Over 2 million transfers were made in only seven months for TAO crypto. The surge affirmed the thesis that TAO was seeing increased chain activity, which usually affects prices directly.

Altogether, AI crypto coins were led by TAO despite AI agent coins dwarfing its gains in the past week. Thus, the $750 mark remained a possibility, especially with TAO expecting reduced token supply on top of increasing chain activity. However, the risk in crypto trading could not be overlooked.