DecipheringCrypto

You think $TAO whales are loading up. The biggest whale on the list is reportedly Binance, and three others run the very subnets they are staking into. I went through the top 50 TAO wallets. The real story is more interesting than "whales are buying." The top 50 at a glance, as of November 6 • Together they hold about 5.08 million TAO • The top 10 alone hold 48.8% of that • The single largest wallet, about 847,736 TAO, is labeled as Binance That one exchange wallet is about 16.7% of all top 50 holdings. That is customer money, not one investor's conviction. Who else is on the list Third party labels identify some of the biggest addresses as: • Exchanges: Binance and MEXC • A bridge: Taobridge • Subnet owners: Lium on SN51, Targon on SN4 and Chutes on SN64 So a big chunk of the whale leaderboard is infrastructure, not anonymous buyers. What the whales did this week In roughly 24 hours, tracked wallets added about 8,413 TAO to subnet staking. • 11 wallets increased their subnet exposure • Only 1 reduced it • One unlabeled wallet added about 2,571 TAO • The wallet labeled as Lium's owner added about 1,949 TAO Here is the catch: staking is not buying. Moving TAO into a subnet can mean fresh money, or it can mean shifting coins a wallet already held. The tracker's transfer feed was down, so nobody can prove which one this is yet. Anyone posting "TAO whales bought 8,413 TAO" is guessing. Why it still matters The interesting signal is where the money is going. The subnet owners showing up here are the same names leading emissions and external revenue: Lium, Targon and Chutes. When the people running the top subnets keep putting more TAO behind their own subnets, that is skin in the game. It also matters because staking flows influence how much of the network's new TAO each subnet earns. That is a different signal from buying. It is capital being positioned behind the subnets that already make money. How to read TAO whale data yourself • Separate exchange wallets from individual holders • Watch liquid balances and staked balances separately • Track whether exchange balances are falling over time • Check whether owner staking comes from fresh TAO or existing holdings My read on all of this There is no proof of broad TAO whale buying this week. There is clear evidence that large wallets, including subnet operators, are concentrating their stake behind the leading revenue subnets. That is not a headline that pumps a chart. It is a signal about where the network's capital thinks the value is. Do you track who the whales are, or just how much they moved? @Dec1pherCrypto does a great job explaining TAO and subnets in this video below.

Swap io Weekly Recap 🟣 🔹 Pump the Pool 3 ended with $5M in total cumulative trading volume and the prize pool reaching $1,500. 🔹 Winners of the Superteam x Swap.io Dust Sweeper + Social Quests bounty were announced, and the $500 prize pool was distributed. 🔹 Winners of Flash Challenge 17 were announced as well, with 3 winners taking home $60 in $CASHCAT and 6,000 Season 0 XP each. 🔹 Currently Under Review: "Write a Thread or Long Post: Price Comparison Bounty" & "Make a Video: Season Zero, Pump the Pool 3 and Social Quests Bounty." 🔹 Tokens that went live on Swap.io and Solana: $ABNB, $TSLA, $META Thank you for showing up every single day. This week was yours! 🫡

The wave of success continues. Congrats @Dec1pherCrypto for the 10k subs landmark! 🚀 We're only getting started here.

One of Bittensor’s fastest-growing sector now has its own index on Mentat. Robotics. The sector Big Tech is pouring billions into. Current lineup: @openroboto, @SwarmSubnet, @nepher_robotics

Swap io Week in Review 🟣 🔹 Pump the Pool 3 grew to $1,400. Today is the last day to secure your top 20 spot. 🔹 Patch 1.17.0 went live with a lot of upgrades. Sell any token and receive it privately, even with zero SOL in your wallet, save wallets in the new address book, pay them in one batch, and so much more. See everything that’s new in the Patch 1.17.0 thread we posted yesterday. 🔹 We fixed the “Let’s Try That Again” issue that appeared when connecting a wallet. If it stopped you before, give it another go. 🔹 Our UGC bounties with @SuperteamEarn closed today, with 200+ videos, posts and threads from the community about Swap io. 🔹 We ran 2 trading challenges where swappers could earn themselves $TAO, $BTC and Season 0 XP. 🔹 Tokens that went live on Swap io and Solana: $ASTER, $RIOT, $CMG, $TSM Thank you for showing up every single day. This week was yours 🫡

Major milestone for the Kaspa Privacy Initiative! 🎉 We just demonstrated autonomous recovery of native test KAS on Kaspa L1. After physically switching off the original computer, a second machine independently found the remaining reserve, generated a fresh ZK proof and successfully withdrew the KAS on TN10. No intervention from the original machine. No privileged withdrawal key. This is a major step toward something essential for private KAS: being able to recover your funds even when the original infrastructure disappears. Not a shielded pool yet, not audited, and more A1 tests remain. But a critical piece of the foundation now works! Built in the open: github.com/olafweller/kaspa-…

🎙️ SOLANA ROUTE — EPISODE 2 Only 24 hours to go until Swap io’s monthly Twitter Spaces is back. This time, Cryptocito, Founder of Stakecito and Cosmoverse, and Rachel, CEO of Onchain Media, will be joining us to break down what’s happening across Web3 and Solana in 2026. Here’s what we’ll be discussing: 🔹 The BTC Cycle 🔹 The Solana Landscape in 2026 🔹 Swap io News 🎁 $100 in rewards will be given away during the space! 🗓️ OCTOBER 2 ⏰ 3 PM UTC+1 / 10 AM ET 🎙️ Guests: @Cryptocito & @RachelCreates