@Stefan_B_Trades Stefan - what website are you using to analyze this data in the picture? Do you have a YT vid or article explaining how to set this up? I have being looking into to MMT and Hyblock for order flow. Hopefully you can help point me in a direction. Cheers.
@JustinBennettFX Hey Justin, just found your posts a few days ago. You’re on my daily radar now. Appreciate all the education! Keep up the great work 🤟
I highly enjoyed this chat
These network effects have been scaling faster and faster
“It will catch like wildfire”
Critical Mass for Value
bittensor:native
Had @mikecontango Founder of @generaltensor on the pod
Talking about what it takes to get $TAO to the top institutional investors
General Tensor are OGs who started some of the major subnets on Bittensor, acquired top validator Roundtable 21 and now have taken over trading venue Backprop Finance
No one better to speak to than Mike on all things BIttensor
Timestamps:
00:00 Intro
01:45 State of Markets
03:48 General Tensor Origins
09:21 Antifragility
11:11 TAO Capital Markets
15:12 Distributed Computing
20:18 Exponential Growth of $TAO
26:07 Subnet Analysis
29:43 TAO as a Diversified AI Index
35:36 Driving Institutional Adoption and Research
🚨 $TAO just did something almost no asset in crypto does for the THIRD month running.
As more people pile in, ownership is getting LESS concentrated, not more.
It now takes just 10.11 $TAO to sit in the top 10% of all holders. The threshold to be Top 10% fallen four months straight:
Feb | Mar | Apr | May
12.23 | 11.59 | 10.54 | 10.11
Read that twice.
Credit to @RBS_HODL give a follow.
So Bar for joining the top tier keeps Dropping after emissions halved.
Here's why that's strange enough to stop and think about.
In almost every asset on earth, adoption Concentrates ownership.
Early whales compound, newcomers buy crumbs, the top tier pulls away.
The rich tier gets Richer and the threshold to join it climbs.
That's always the default gravity of markets.
$TAO is running that gravity in reverse. New wallets are arriving FASTER than existing capital can concentrate, so the ownership curve keeps flattening even as the network grows and the token gets scarcer. Adoption is Democratizing ownership instead of concentrating it.
That is genuinely rare.
The base keeps widening:
259,909 non-zero wallets up
9,443 in 30 days (+3.77% MoM).
That's 315 new wallets every single day, organically. No airdrop. No points farm. No incentive program.
(Honest note: monthly growth has cooled 6.45% to 5.85% to 3.77%.
Still relentless, just no longer accelerating. The data doesn't need exaggerating.)
Now the important part of who holds it.
Only 14 wallets hold more than 100k $TAO. That's 0.01% of all holders.
Compare that to the rest of the market:
• Ethereum's top 100 addresses control roughly 40% of supply
• Most altcoins sit at 50–80% whale/insider concentration
• Solana's top wallets are heavy with foundation + VC private-round allocations
$TAO? Sub-1% mega-whale concentration. And the reason is structural, not luck: no ICO, no premine, no discounted private round. Every token was mined or bought at market VCs paid the same price you did. When Polychain sold, they sold tokens bought at market, and the community absorbed it while the network kept growing.
And the middle keeps thickening the tier most networks are hollow in:
▫️ >50 TAO: 10,276 wallets
▫️ >25 TAO: 15,821
▫️ >10 TAO: 26,425
▫️ >5 TAO: 35,332
▫️ >1 TAO: 57,491
Year-over-year, almost every tier is up 20–25%+, with the very top up far more (>100k: +100% YoY, >50k: +72%).
One honest exception: the >10k tier is Down 7.74% YoY a sign mid-large holders are migrating capital, likely into staking and subnet alpha rather than sitting in idle wallets. That migration thins liquid float further, which matters.
Stack it against the rest of the market right now:
• 53% of tokens launched since 2021 are effectively dead
• 90% of major unlocks trade down
• Insider-heavy launches mostly sit below listing price
• Billions in VC unlocks overhang the space
$TAO has the opposite setup: hard 21M cap, post-halving issuance, 66% staked, subnet registrations and alpha AMMs acting as continuous $TAO sinks, no team vesting cliff, no VC unlock waiting to dump.
And with BIT-0011 / Conviction now live (commitment = stake × time, locked on-chain), even subnet owners now have to PROVE they're staying.
So here's the question I've asked publicly for months and never had answered:
Name another top-100 asset where the top-10% threshold is Falling, the holder base grows 300/day with zero airdrop, mega-whale concentration is under 1%, and there's no insider unlock waiting to hit the bid.
It doesn't exist. The data has no narrative and no agenda it just shows what 259,909 wallets are doing with their own money. And what they're doing is SLOWLY building the most broadly-owned, hardest-to-capture asset in the top 100.
That's AI ownership earned, on-chain, verifiable.
All credit to @RBS_HODL for the monthly on-chain accounting give the follow. Source: @taostats, 31 May 2026.
$TAO
DYOR.
$TIG
“How the dual licence works
- TIG licences the winning algorithms.
- The algorithm is free to use if you share your data, but companies that want to keep their data closed pay to license it.
- 100% of that revenue flows back into the token and that flows back to the benchmarkers and innovators to fund more open innovation”
🔘
This is amazing to see!
It proves a major shift has taken place: a non technical person can participate in an AI agent swarm to optimise an algorithm
Imagine that at global scale, pointed at thousands of problems at once!
It introduces one question though: who pays for the compute?
Donations/philanthropy can only go far.
For this to work at a global scale it has to become an industry, where people move from donating spare compute to doing it full time because they get paid for it.
And it all HAS to stay open, if each agent in a swarm can see and build off each other's work, no private lab can keep up with it!
This is how you can scale from people donating their laptop overnight to teams building entire data centers to join swarms.
And that is exactly what TIG has spent three years building.
What are the ingredients you need?
You need:
Price discovery (which TIG solves via proof of work)
AND
A mechanism to capture value (which TIG solves via its dual licence)
A deeper dive as these are often parts of TIG which are hard to grasp
How the price discovery work:
- Algorithms currently have no way of being priced, so what TIG does is let anyone "run" (benchmark) them.
- Benchmarkers choose the best ones because they get paid for valid work, and a better algorithm lets them produce more of it per unit of compute, so picking the best one directly earns them more.
- The algorithms benchmarkers actually choose to run is the price signal.
- Adoption is the market revealing which algorithm is best.
- This is the same class of fix Paul Milgrom won a Nobel prize for: using computation to make a market function where it otherwise cannot.
How the dual licence works
- TIG licences the winning algorithms.
- The algorithm is free to use if you share your data, but companies that want to keep their data closed pay to license it.
- 100% of that revenue flows back into the token and that flows back to the benchmarkers and innovators to fund more open innovation
We've posted this before - but if there is one video your're gonna watch to understand how this space plays out, make it this!