> **Original Title:** The Bear Case for Bittensor (TAO) > **Original Source:** Pine Analytics > **Original Compiled by:** Saoirse, Foresight News TAO is currently priced at approximately $275, with a market cap of $2.6 billion and a fully diluted valuation of $5.8 billion. The project has received institutional endorsement from Grayscale (submitted an NYSE ETF listing application in December 2025) and public recognition from NVIDIA CEO Jensen Huang. Additionally, the token supply narrative is highly compelling: a hard cap of 21 million tokens with a Bitcoin-style halving mechanism. Following the first halving in December 2025, daily issuance will decrease from 7,200 tokens to 3,600 tokens. The number of subnets increased from 32 to 128 within one year.

Gate News bot message, according to the official Gate announcement Gate has decided to delist trading markets for 30 tokens, including POWERLOOM, ZAP, NVIR, PBX, MNRY, HAT, EARNM, VICE, FST, LBLOCK, ELIX, ELIZA, GET, VIA, SGC, SKAI, 1, GPT, DPET, EQ, EMPIRE, ELDE, CNNS, MYTH, HARD, TROY, MICHI, OVPP, ROOST, and other tokens. Gate has suspended deposit services for these tokens, and on March 11, 2026, at 11:00 (UTC+8), trading services for these tokens will be suspended. Regarding contract trading, on March 5, 2026, at 15:30 (UTC+8), the relevant contract trading markets will switch to a position reduction-only mode. The next day at 16:00 (UTC+8), contracts will be automatically settled based on the average index price during the half-hour before trading stops. Unfilled orders will be automatically canceled. Users holding positions should adjust their strategies in advance; otherwise, forced liquidation will occur. After the trading markets are offline, users with open positions can withdraw the relevant tokens. Users who still hold the relevant tokens stored on Gate after March 25, 2026, can apply for buyback. Gate will repurchase at the specified price, with a maximum individual compensation limit of 100 USDT. The application period is from March 25 to April 1, 2026.