The Pan

Let me tell you a secret… the crypto game has changed. No one really knows what’s going on. Even your favorite KOLs are losing — they just have side deals to keep the lights on. So what? Give up? Hell no. Shift the focus inwards: grind, get involved, hunt alpha early, follow smaller accounts, track smart wallets, see who big accounts follow. If you’re waiting for a big tweet before you act… you’re already too late. 👀

红包来了 🧧 Just unsealed my @MezoNetwork Red Envelope (V6QBDU9). Phase II of the MEZO airdrop is here, and this is where allocations grow. Unseal yours 👇 mezo.org/feature/rewards

Lfg! See you on the $BID Trenches..! 🪖 trenches.bid/code/B6H5ZKGU

$50,000 Claude Trenches Challenge on @base - powered by Hippius Attention vibe coders! If you're looking for a platform where you can ship fast, tokenize experiments, and test ideas in the open, we got you covered 🤓 What the Trenches (our upcoming platform) will allow 1. Build Claude-powered products and launch them directly in the Trenches in seconds 2. Projects are tokenized from day one 3. Iterate quickly and let the market decide what survives 4. You can see the Trenches as a Base playground to launch and test new ideas and products Tracks you can explore - Web apps - Consumer apps - Agents & automations - Developer tools - Experimental builds Infrastructure All projects run on @hippius_subnet, a decentralized Bittensor subnet providing cloud infrastructure (including storage, virtual machines, and application hosting) at a fraction of traditional cloud costs, with full blockchain transparency and trust. Why apply as a vibe coder? We offer: 1. Access to $50,000 in liquidity and distribution via the Bidding with BID program 2. An optimized launch venue for early-stage Claude projects 3. Discovery and visibility inside the Trenches at launch 4. Monetization through LP fee sharing and milestone-based rewards 5. Low-cost, decentralized cloud infrastructure to scale as your project grows Next steps 1. Register your interest using the form below. 2. We’ll finalize the hackathon structure and contact you once registration officially opens. 3. Full rules, timelines, and criteria will be published on the official Hackathon page. 4. Winners will be selected ahead of the Trenches launch. 5. Selected teams will be added to a dedicated Telegram group to coordinate next steps and receive launch support. 👉 Vibe coders, don't miss this chance. Register your interest in the form below and expect to hear from us soon!

BID szn coming

$NWV @nexwave_so + clawdbot ( moltbot ) are going to be absolute beasts together, the release of moltbot has taken usecases of nexwave to the next level Keep building 🤏 market cap here at 50k dexscreener.com/solana/2ye4fgq…

@1CrypticPoet @Nibel_eth @base And I know just the right project.. @aion5100 $AION

@Nibel_eth @base few

.@base is the home for x402

@bittensormax @grok thoughts on this?

Why Grayscale Investors Are Already Paying Nearly $1,000 per TAO (data not hype) I want to share something factual I came across while looking at the Grayscale Bittensor Trust, because it puts current TAO pricing into context in a way that’s hard to ignore. Grayscale publishes the trust’s holdings and share math on their site. Right now each share represents about 0.019224 TAO, and the trust’s market price per share is roughly 18.41 dollars. If you divide those numbers, you get an implied TAO valuation of about 950 dollars inside the trust. That’s not a typo. It’s just math. 18.41 divided by 0.019224 equals roughly 958 dollars per TAO. Meanwhile spot TAO is trading around the low 200s. This isn’t unique to TAO. It’s exactly how Grayscale products historically behaved when access to the underlying asset was limited. GBTC traded at massive premiums for years because institutions and retirement accounts could not buy or custody Bitcoin directly. The same thing happened with Ethereum trusts before broader ETF access existed. What this shows is not hype or a price target. It shows that there is already demand willing to pay a much higher effective price for TAO exposure through regulated rails. That demand simply cannot touch spot markets today. Historically, when assets move from trust based exposure into broader ETF style access, the premium doesn’t usually stay trapped inside the wrapper. Spot price does the catching up as access improves and liquidity normalizes. You can verify all of this yourself on Grayscale’s site. The trust math is public. No speculation needed. This doesn’t mean TAO instantly goes to 900 dollars. It means current spot pricing is being set by a market that does not yet include a large class of buyers who are demonstrably willing to pay more for exposure. That gap doesn’t stay open forever. If you want to check the numbers yourself, the Grayscale Bittensor Trust page lists TAO per share, NAV, and market price daily. grayscale.com/funds/grayscal… Just wanted to share the math for anyone who prefers data over narratives. $tao #tao #bittensor #grayscale #subnet

The return of $BID 1. Bidding with BID The preferred option on the Trenches is to pair with BID - supported by an ecosystem fund to increase liquidity for selected projects. 2. vBID The native yield token of the ecosystem, providing access to LP fees. No emissions - see it as an LP token derivative without the risk of holding the underlying token. gBID

Just finished my final benchmark on prediction market apps. tbh, I don't see much innovation: 250+ apps competing to be the "Bloomberg Terminal for prediction markets" @futuredotfun won't. our next product stack will set us apart as the biggest innovator in the market.

@philism Team keep building and innovating! Nice one $BID team! Looking forward seeing the new tokenomics as well 👀🪖

BID Trenches - get ready 🪖

Taking a stab on this. After reading what @Leonardo_CMNT and @mahoonwen dug up, $NWV could really be a gem! Let’s see if something finally sticks on Solana. 👀

@mahoonwen So early.. imagine the interest it will generate post hackathon 👀

Imagine the simplicity all available from one $NWV ai agent terminal " build me an agent to " " dca me $1000 usdc every month into $SOL " " 10x leverage long 0.1 $BTC at $100,000 with a SL at $99,200 and TP at $105,000 " " swap $1500 in $SOL for $NWV now " " add 10 $SOL AND $1500 $USDC to liquidity on JUP " All without leaving one simple interface @nexwave_so The possibilities are endless

Wen launch? > Audits are done. > UI/UX is ready. > Testing is happening this week and next. > Announcement is ready. > Partners and KOLs are aligned. From a product side, we’re ready. We’re aiming for early February for announcement and launch, keeping timing flexible so it hits the trenches properly. We’re building every day. Next Monday: new tokenomics + Bidding with BID. gBID

Crypto feels dead ngl.. Macro is all over the place and no one knows what tomorrow brings. In times like this, I focus on teams that keep building and aren’t afraid to switch gears. That’s why I’m looking at @CreatorBid. This drawdown doesn’t reflect the amount of work happening behind the scenes, which is exactly why I see $BID as high R/R. Even Binance delisting perps could end up being a good thing long term. Less noise, more real users. Very curious to see what v3 looks like and what utility they’re cooking.

What a click bait.. that’s what smart marketing is all about. Well done Nikita! One screenshot that shows $base token and post became super viral in few hours. #base

Banking on Bitcoin hits different. Claimed my @MezoNetwork Bankcard Early access to borrow, earn, and build with my BTC. Your turn 👉 discord.gg/W4CbAy9p

@bittingthembits @grok thoughts? How you think $TAO will react in the coming months?

🚨 URGENT: THE GTAO PREMIUM IS TELLING US SOMETHING MASSIVE ABOUT $TAO. THE 206% PREMIUM ANOMALY Current GTAO data (01/06/2026): - Market Price: $16.98 - NAV (actual $TAO value): $5.54 - Premium: 206.77% Translation: Investors are paying $3 for every $1 of $TAO exposure through GTAO. The Grayscale Bittensor Trust just filed to become an SEC Reporting Company. What the market's reaction reveals about $TAO Why? Because traditional finance is DESPERATE for regulated $TAO access. MOVE FROM THE LOWS GTAO bottomed at: $3.98 Current price: $16.98 Gain from lows: 326% in weeks But here's what the market is missing: This isn't just GTAO pumping. This is institutional capital pricing in the inevitability of spot $TAO access before it exists. The 206% premium = willingness to overpay 3X just to get exposure NOW SEC FILING Before: - Private placement only - 12-month holding period - No public liquidity - No transparency After Form 10 effective: - Public OTC trading ✅ - 6-month holding period (after 90 days) - Quarterly SEC filings ✅ - Path to NYSE Arca ETP listing ✅ Translation: The floodgates for institutional capital are opening. MATH ON WHAT HAPPENS NEXT Current GTAO metrics: - Shares outstanding: 1,881,500 - $TAO per share: 0.01922835 - Total $TAO backing GTAO: 36,183 $TAO - Market cap: $26.2M At 206% premium, institutions are valuing this 36K $TAO at $26.2M despite NAV of only $10.4M. Now apply this to native TAO: Current $TAO market cap: $2.7B If spot $TAO absorbed even 10% of the "premium demand" GTAO demonstrates... That's $520M in new capital chasing limited supply SUPPLY SHOCK Remember these numbers: - 70% of TAO staked - 4.6% on exchanges - December halving: 7,200 → 3,600 daily emission - Grayscale now buying for GTAO + path to ETP Grayscale + institutional demand: Easily 500-1,000 TAO/day once ETP approved GBTC PRECEDENT When Grayscale Bitcoin Trust (GBTC) traded at premiums: - Institutions paid 2.3X NAV for regulated BTC exposure - When spot ETFs launched: Premium compressed but BTC price 10X'd GTAO current premium: 206.77% Higher than GBTC ever reached. Let that Sink In. The market is screaming: $TAO spot demand >> available supply THE 326% MOVE GTAO: $3.98 → $16.98 (326% gain) This happened BEFORE: - Spot ETP approval - 6-month holding period reduction (90 days away) - NYSE listing - Mass marketing to RIAs/institutions This is early positioning by smart money. The chart shows massive volume (198K shares in one candle = $3.3M single-day flow) WHAT THE PREMIUM TELLS US ABOUT NATIVE $TAO Implied "fair value" for regulated $TAO access = 3.06X current $TAO price That's the premium-adjusted price institutions are willing to pay RIGHT NOW. REGULATORY MOAT Why the premium exists: 1. Most institutional funds CANNOT buy native crypto 2. Custody requirements = impossible for most RIAs 3. Compliance overhead = too expensive 4. Board approval = requires SEC-registered products GTAO solves all 4 problems. When it becomes an ETP on NYSE Arca: - Every major brokerage can custody - Every RIA can allocate - Every pension can access - Every ETF can include Market size - RIA assets under management: $130+ trillion - If 0.1% allocates to $TAO via GTAO: $130 billion - Current $TAO market cap: $2.7 billion 43X potential capital inflow from RIAs alone. $TAO is just getting started, not financial advice. This is not a price target. It’s a warning. Wake-up ⏰️ grayscale.com/funds/grayscal…