The subnet market has been particularly quiet in recent weeks, except for Predictions subnets.

Focus on the subnet that everyone is talking about right now: Leadpoet.

Let's dive in.

Like in the past few weeks, the sum of Alpha Prices still has no clear direction.

It’s stuck between 1.06 and 1.02, with low volume and no big moves.

The good news is the price hasn’t fallen back into the 1.00–1.02 range. Every time it gets close, it slowly bounces back up.

The white boxed area should be ignored. It looks like a calculation bug on TAO.app. No other site shows such a drop in the sum of Alpha Prices during the same period.

The price kept ranging over that time.

You've probably heard about it: the first TAO halving took place on Monday, December 15.

Very few changes affect Alpha tokens.

If you want a summary of what happened, click here to read our thread.

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.

Like the market, Mentat's three indices have remained particularly stable: their prices have not changed over the last two weeks.

We already told you about the hype surrounding prediction markets in a previous edition, and it looks like it's not over yet.

The index is up 23% over the last two weeks.

This increase is mainly driven by Vanta (SN8), which rose 42% over the last month.

Leadpoet made a nice bullish move when the subnet launched in early October.

Since then, the price has been flat, and a descending triangle pattern is forming (consolidation figure).

The bias to take will be defined in the coming days.

Bullish if the triangle is broken from above, bearish if the triangle is broken from below.

Leadpoet is a subnet that builds autonomous AI sales agents.

These agents search for B2B prospects, qualify them, and score their intent.

It automates the entire top‑of‑funnel process and delivers high‑quality leads with enriched context so sales teams can focus on closing, not hunting.

The subnet currently ranks 39th, with a market cap of $5.9 million, a volume of $219,000 in the last 24 hours, making it the 38th most traded token.

The three largest wallets hold 15.66% of the supply, that's not much compared to the other subnets (18-19%).

The first wallet has never made any transactions on the subnet's Alpha.

The second‑largest wallet buys Leadpoet Alpha several times a week, for tens of TAO each time.

The third wallet has no significant transactions and is very passive.

Leadpoet is incubated by DSV, so it is possible that the first portfolio belongs to them.

Leadpoet manages to cover more than 37% of its emissions through burns.

They can sustain this level of burns because accessing their services requires buying their Alpha token and burning it.

As their coverage percentage shows, they’ve already managed to generate real revenue from their products, likely helped by partnerships with other Bittensor subnets: Score, Lium, Zeus, Resi, and Bitrecs.

The next key step will be to secure similar partnerships with companies outside the Bittensor ecosystem to make their model sustainable over the long term.

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.