$WAL Coin price continues to decline, what qualifies it to still call itself "King of Infrastructure"?
@Walrus 🦭/acc 's $WAL has retraced more than 60% from its peak after launch, yet the official continues to loudly promote "the future of decentralized storage" on social media—this narrative and price disconnection, is it a value bottom or a trap for retail investors?
📊 Evidence
Price trend: $WAL has continued to drop from an ATH of about $1.2 to around $0.45, a decline of over 60%, with barely any decent rebounds during this period.
Unlock pressure: According to TokenUnlocks data, the large unlock window for the team and early investors is approaching, and market selling pressure expectations are evident.
On-chain data: DefiLlama shows that Walrus protocol's TVL is growing slowly, and the actual storage demand is severely mismatched with its valuation.
Narrative comparison: During the same period, established storage projects like Filecoin and Arweave are also in a sideways trend, and there is no incremental funding in the entire storage track.
🔍 My view
First, the common problem with "infrastructure" projects is: big narratives, slow implementation, and distant returns. Walrus is backed by the Sui ecosystem, and the technical team is indeed top-tier (Mysten Labs), but the issue is that the real demand for decentralized storage has not seen explosive growth to this day.
Secondly, the unlock pressure is a Damocles sword hanging over us. Early participants have extremely low costs, and once the unlock window opens, it would be strange if they don't run. This script of "institutions running first, retail investors standing guard" has already played out countless times in Web3.
Finally, coin prices and fundamentals can diverge in the long term, but they won't diverge forever. If Walrus cannot prove its PMF (Product-Market Fit) before the next cycle, then "King of Infrastructure" will just be an empty slogan.
💬 Do you think WAL is now a "value bottom" or a "value trap"? Does the decentralized storage track really need so many new projects?
#WAL #去中心化存储 #Sui生态 #Walrus
@Walrus 🦭/acc 's $WAL has retraced more than 60% from its peak after launch, yet the official continues to loudly promote "the future of decentralized storage" on social media—this narrative and price disconnection, is it a value bottom or a trap for retail investors?
📊 Evidence
Price trend: $WAL has continued to drop from an ATH of about $1.2 to around $0.45, a decline of over 60%, with barely any decent rebounds during this period.
Unlock pressure: According to TokenUnlocks data, the large unlock window for the team and early investors is approaching, and market selling pressure expectations are evident.
On-chain data: DefiLlama shows that Walrus protocol's TVL is growing slowly, and the actual storage demand is severely mismatched with its valuation.
Narrative comparison: During the same period, established storage projects like Filecoin and Arweave are also in a sideways trend, and there is no incremental funding in the entire storage track.
🔍 My view
First, the common problem with "infrastructure" projects is: big narratives, slow implementation, and distant returns. Walrus is backed by the Sui ecosystem, and the technical team is indeed top-tier (Mysten Labs), but the issue is that the real demand for decentralized storage has not seen explosive growth to this day.
Secondly, the unlock pressure is a Damocles sword hanging over us. Early participants have extremely low costs, and once the unlock window opens, it would be strange if they don't run. This script of "institutions running first, retail investors standing guard" has already played out countless times in Web3.
Finally, coin prices and fundamentals can diverge in the long term, but they won't diverge forever. If Walrus cannot prove its PMF (Product-Market Fit) before the next cycle, then "King of Infrastructure" will just be an empty slogan.
💬 Do you think WAL is now a "value bottom" or a "value trap"? Does the decentralized storage track really need so many new projects?
#WAL #去中心化存储 #Sui生态 #Walrus