What is often overlooked when #ETH巨鲸增持 is Sideways? The answer is progress.

When the price is stagnant, the level of attention drops like a receding tide. It isn't until one day a big bullish candle appears that everyone suddenly realizes: "Wow, so much has happened during this time?"

This is how TAO is. The team hasn't been idle in the last two months; it’s just that the market hasn't responded. I've outlined a few points worth noting:

**First, look at the hardest catalyst - halving.**

In mid-December this year, TAO will experience its first halving in history, with daily production being cut from 7200 to 3600 coins. This is written in the code, with a 50% reduction in supply; it’s not just a slogan, but a structural change. You understand the sensitivity of the crypto market to the term "halving."

**Moreover, the mechanism upgrade - Taoflow has already been launched in November last year.**

This adjustment is quite significant. The previous incentive logic was based on price allocation, but it has now changed to focus on the amount of staked inflow. In simple terms, rewards are no longer driven by sentiment, but rather by actual usage and computational power contribution. For the subnet ecosystem, this is a complete rewrite of the rules.

**Finally, it's landing, this has actually been quietly pushed all along.**

• Score(SN44) has partnered with AVIA, and Vision AI has been deployed to over 3,000 gas stations in Europe.
• Zeus(SN18) integrates WeatherXM, incorporating data from thousands of decentralized weather stations.
• ReadyAI(SN33) is conducting enterprise-level research with Ipsos, and the real-time tasks are already running.

These are not PPTs; there are indeed off-chain businesses in operation.

My personal view is that the fundamentals of TAO have actually been improving, just not very loudly. The mechanism is adjusting in a more rational direction, and the halving cycle is there. If $BTC doesn't have any surprises, the probability of TAO reaching around 400 in December is quite high.

Of course, the overall strategy has been more defensive lately. The $ETH trend is not strong either, so it makes sense to take a wait-and-see approach in the short term.