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I checked out CoinGecko, and Walrus (WAL) has been showing some interesting price action lately—down 48% over the last 30 days, while SUI itself is up 9.5% today. Two core assets in the same ecosystem, but the trends are completely opposite.
Walrus is a decentralized storage protocol developed by Mysten Labs, with a clear positioning: it aims to provide verifiable and tradable infrastructure for data in the AI era. You can think of it as the data layer of the Sui ecosystem—Sui manages computation and consensus, while Walrus handles storage and integrity.
The market cap is relatively small. It's at $90 million, with a fully diluted valuation (FDV) of $187 million, circulating 2.4 billion tokens (total supply 5 billion, with a circulation rate of 48%). It’s ranked #293 and has been featured in Binance Alpha Spotlight. The all-time high (ATH) was $0.759, and it’s currently at $0.037, just 5% of its peak.
A few observations:
Short-term rebound signals—up 10.2% in the last 24 hours, 3% over the past week, but down 31.8% in the last 14 days. This short-term rise amidst a longer-term decline typically indicates that the selling pressure hasn’t been fully absorbed, but some are already bottom-fishing.
Structural positioning in the Sui ecosystem—Sui’s Total Value Locked (TVL) ranks #13 ($464 million), and on-chain data is warming up. As the storage layer, Walrus will see its use cases expand as Sui’s ecosystem grows. However, 52% of the tokens are still locked, and every unlocking event poses potential selling pressure.
AI narrative boost—Walrus has recently shifted its positioning from decentralized storage to an AI data marketplace. This pivot is smart, but the market hasn't fully bought into it yet, resulting in a near 50% drop over the past month.
I believe the long-term logic for Walrus is solid—Sui needs a native storage layer, and Walrus is the only option. In the short term, the price will be more influenced by unlocking schedules and market sentiment. If you're bullish on the Sui ecosystem, WAL is indeed looking cheap right now, but be prepared for some bottoming out.
—— 👼 Sui 中文
Walrus is a decentralized storage protocol developed by Mysten Labs, with a clear positioning: it aims to provide verifiable and tradable infrastructure for data in the AI era. You can think of it as the data layer of the Sui ecosystem—Sui manages computation and consensus, while Walrus handles storage and integrity.
The market cap is relatively small. It's at $90 million, with a fully diluted valuation (FDV) of $187 million, circulating 2.4 billion tokens (total supply 5 billion, with a circulation rate of 48%). It’s ranked #293 and has been featured in Binance Alpha Spotlight. The all-time high (ATH) was $0.759, and it’s currently at $0.037, just 5% of its peak.
A few observations:
Short-term rebound signals—up 10.2% in the last 24 hours, 3% over the past week, but down 31.8% in the last 14 days. This short-term rise amidst a longer-term decline typically indicates that the selling pressure hasn’t been fully absorbed, but some are already bottom-fishing.
Structural positioning in the Sui ecosystem—Sui’s Total Value Locked (TVL) ranks #13 ($464 million), and on-chain data is warming up. As the storage layer, Walrus will see its use cases expand as Sui’s ecosystem grows. However, 52% of the tokens are still locked, and every unlocking event poses potential selling pressure.
AI narrative boost—Walrus has recently shifted its positioning from decentralized storage to an AI data marketplace. This pivot is smart, but the market hasn't fully bought into it yet, resulting in a near 50% drop over the past month.
I believe the long-term logic for Walrus is solid—Sui needs a native storage layer, and Walrus is the only option. In the short term, the price will be more influenced by unlocking schedules and market sentiment. If you're bullish on the Sui ecosystem, WAL is indeed looking cheap right now, but be prepared for some bottoming out.
—— 👼 Sui 中文
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