Bittensor subnet tokens as early-stage AI startups, with COT's $468M estimate
Quote162 words
Bullish call$TAO−32%since this piece, moved against the callHow it played out ↓Argues subnets are early-stage AI startups with live products and real demand, and cites COT Research's estimate of over $468M flowing into alpha token markets by end of 2025. Notes TaoFi routing ETH and SOL into subnet tokens could funnel more demand to TAO.
Key claims
More than $468M flows into alpha token markets by December 2025 (COT Research estimate)
Subnets will attract about 20% of all TAO
TaoFi will let users buy subnet exposure with ETH or SOL while routing through TAO pools
"Subnets will attract about 20% of all $TAO"
Bittensor subnet tokens could be a very interesting play this cycle.
Few understand that subnets are actually early stage AI startups that do what billion $$$ VC-funded companies dont achieve. Live products, real users, real demand.
That's why I have been patiently building my portfolio alongside my $TAO position in recent weeks/months.
While for many alpha tokens there is a lot of stuff yet to be figured out regarding sustainable tokenomics and stuff, @cot_research estimates that >$468M will flow into alpha token markets by EOY, which could even be significantly more if we assume $TAO price will rise by then too.
Probably a rather conservative guess anyhow, considering @_taofi_ is about to enable users to get subnet token exposure directly with assets like $ETH or $SOL across various chains (while still routing through $TAO/alpha pools on Bittensor, funneling demand to $TAO), and opening the floodgates for liquidity from mature billion dollar ecosystems.
DYOR anon.
QUOTING @tengyanAI
From our latest Bittensor report @cot_research : We estimate >$468M of capital will move into alpha token markets by December 2025, by extrapolating current trends. t.co/5TYmbRmEsC
From our latest Bittensor report @cot_research : We estimate >$468M of capital will move into alpha token markets by December 2025, by extrapolating current trends. t.co/5TYmbRmEsC
How the call played out · since 08 Jun 2025
Prices as of 23 Oct 2026This piece takes a view on $TAO, so that move is read against the call.
−32%
Moved against the call · over 16 months
- At publication
- $384.49
- Now
- $262.39
- vs BTC
- −12%
- After 1 month
- −17%
- After 3 months
- −18%
- After 1 year
- −44%
- High since
- +29% 02 Nov 2025
- Low since
- −62% 12 Feb 2026
Since then
Zero has written 6 more pieces on Bittensor and $TAO since this one.
- Watchlist additions: TAO, PURR, EDEL and BPOn Bittensor
- I Built a Research Desk Staffed Entirely by AI Agents. It Works.Covers $TAO
- AI infra projects on watch: Bittensor, Sentient, NEAR, Ritual and moreOn Bittensor
- Why DeAI matters across the AI stack: seven layers from incentives to computeOn Bittensor
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish thesis is read as a call; explainers, maps and mentions are context. Not financial advice.