The halving is just a supply-side story; whether demand can withstand it is the real battle. 43 million in revenue looks okay, but before the ETF move lands, don't rush to say "to the moon."

CoinJie.com news: Bittensor (TAO) conducted its first halving in December 2025. Daily issuance fell from 7,200 to 3,600, and about 70% of the supply was locked in staking. Although the supply side appears tight, the halving can only drive price increases if demand keeps up. Currently, the TAO price is still 65% below its all-time high. Analysis suggests the impact of the halving is gradual, and it’s important to monitor changes in demand. Bittensor’s network reported about $43 million in AI services revenue in the first quarter of 2026, indicating potential for economic activity. Future price trends will depend on whether demand continues to grow and whether factors such as ETF approval can be achieved.