#TAO fundamental analysis and accumulation plan:

I think AI will be a strong narrative in the crypto market and beyond over the next few years. My two favourite AI coins for the next cycle are Bittensor ($TAO) .

The main reason why I want to invest in this coin for the next cycle is that it is a solid project with solid tokenomics that falls under the AI narrative. On top of that, it is a new AI coin that never experienced a bull market.

But what is TAO? BountyCreator##BountyCreator Bittensor (TAO) is an open-source protocol, driving a decentralized machine learning network built on blockchain technology. In this network, machine learning models engage in collaborative training and receive rewards in the form of TAO tokens based on the value of information they contribute to the collective. Furthermore, TAO provides external access, enabling users to extract information from the network and customize its operations to suit their specific requirements.

Its current market cap is at around 250M, which means that TAO falls under the category of mid caps. The total TAO supply is fixed at 21,000,000 tokens, of which 4,123,120 tokens are presently in circulation. That means that it currently has a market cap to fully diluted market capitalization (MC to FDMC) ratio of approximately 1:5, a ratio that, in my opinion, could be improved. However, it's worth noting that the total supply of all tokens won't be unlocked until 2069. This gradual release of new tokens over an extended period is expected to have a minimal impact on the token's price. There is a halving cycle in place, where rewards per block are halved every 10.5 million blocks. Currently, a single TAO is emitted into the network every 12 seconds (equivalent to one block step). This halving process is set to undergo 12 events, with the first one anticipated to occur in late 2025. You can also stake your TAO tokens with a solid APY of 24.1%. If you bought 100 TAO at $48, you would get 24 TAO for a year just by staking the token. That is pretty solid if you are a long term holder.

In the chart below, I have outlined two buy areas for TAO. The first area falls between $45 and $42, while the second buy area for me is at about $29, which would also complete a double bottom on the 12h chart. However, the second buy zone is not guaranteed to fill. I am mapping it out as a potential buy zone if we ever get it.#ContentStar #BountyCreator #GateioBountyCreator #GateLive #contentstar #NewsMessenger #HotTopicDiscussion