after the spark of optimism demonstrated through sn39's mini mania (that i missed), combined with the tapering of emission excretion into unproductive subnets mitigated through the subnet cap, i have a burning desire to get long subnet tokens again...
however, im still cautious to invest in the long tail when tao is in a strong downtrend...
i think its pretty pointless to spend time trying to scalp 30-50% movements
albeit, some charts look particularly primed and others are bottoming... patience padawan
i expect sum of subnet tokens (SST) to settle into their respective bottoms here around 1.1 - 1.3.
the introduced subnet cap will temporarily stop the bleeding and fragmentation of emissions directed towards the immature longest tail subnets, and with a little more bleeding, valuations across top subnets will look much more reasonable from fdv perspective, and asymmetric from a market cap perspective.
by the time that 1.1 -1.3 range is met, i think most will have given up. max greed when others are fearful.
however, im still biding my time, speaking with the founders, understanding the growth/revenue avenues, and curating my subnet watchlist....
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