The subnet market is growing rapidly.

Prediction markets are following the trend.

Let's dive in.

We mentioned resistance zone around 1.11-1.15 in our last edition.

This has been broken, and the Sum of Subnets has now moved above this zone with a strong upward movement (+6.31% over the last two weeks).

Volumes are increasing, a lot of liquidity is entering the market.

All signals are turning green on the subnets.

Are you bullish on the Sum of Subnets?

Investing in it is now possible. Discover the latest Mentat Minds index by following this link.

We use Mentat Minds indexes. Details on calculation are on this page. Mentat 5 and Mentat 15 cover the leaders, while Mentat 70 gives a wider picture of the subnet market.

Over the last two weeks:

The market is absorbing liquidity overall. It is no longer just the leaders taking it all.

Mentat 5 is clearly underperforming, a trend reversal may be underway.

The Prediction index has performed well over the last two weeks: +8.2%.

It had previously underperformed, falling 9.5% between December 26 and January 13.

Team indexes continue their rise that began several weeks ago.

Over the last two weeks:

A nice rebound that began at the end of 2025 in the orange zone (+124%) led the subnet to reach and then break through the purple resistance level.

The subnet is currently retesting this level.

To remain bullish, Yanez needs to bounce back from it and use it as support.

Yanez MIID generates realistic synthetic identities to test and strengthen banking systems against fraud and money laundering.

The subnet currently ranks 57th, with a market cap of $3.79 million, a volume of $118.15K in the last 24 hours, making it the 70th most traded token.

The three largest wallets hold 37.9% of the supply. This is much more than what we usually see on Bittensor (between 17% and 18%).

Despite this concentration, these holders are highly trusted.

The first belongs to Const (founder of Bittensor).

The other two wallets appear to belong to the team and investors, Because Yanez managed to raise $900k.

None of these wallets show concerning behavior: no significant sales.

Over the last 30 days, 952 TAO have been burned (70% of miners' emissions).

High-quality miners remain too scarce to unlock full emissions.

The subnet still needs to refine its model to attract top performers and cut these burns, proving full operational maturity.

And to improve, they are actively fundraising.

Yanez announced in this tweet that they have raised $50K in addition to the initial $900K, and that they are in discussions with other investors.

From a technical standpoint, the subnet is in good shape.

Fundamentally, the subnet is supported by the founder of Bittensor and investors.

It's up to them to make it happen.

Thank you for reading this newsletter. If you are interested in the subnet market, please feel free to click on the following link.

Disclaimer: This newsletter does not constitute investment advice. It is a tool designed to help you understand the Bittensor subnet market. Always do your own research before investing.