WAL at $0.052—are you brave enough to jump in?
It ran from $0.02 to $0.066, more than tripling, and now it’s crashed back to $0.052. The Sui Foundation just invested $30 million, and the whole crypto world is shouting “AI storage revolution”—but whose pockets is that money actually going into?
First, the surface story: the news is explosive, but the price chose to drop first.
WAL climbed from its August low of $0.020 all the way to $0.066, up 90% on the monthly chart. The weekly chart broke out of a descending channel, and the moving averages are in a bullish alignment. And then? In 24 hours, it crashed from $0.066 back to $0.052—a 27% swing. The current price is $0.052 on Binance perpetuals. Market cap: $140 million. Circulating supply: 2.6 billion. Total supply: 5 billion. The candlestick chart tells you the breakout was real, and so is the pullback. But every indicator is shouting one thing: the good news has been priced in, and holders are taking profits. Are you buying in?
First thing: the Sui Foundation invested $30 million, but that money isn’t being used to buy WAL.
On October 12, the Sui Foundation announced a $30 million investment in DATA Network. Trace, an AI training data registry, is joining the Sui ecosystem, with Walrus designated as its default storage layer. Trace has already recorded 250 million AI training data receipts, with several million added per day. Walrus Console has also launched.
Sounds huge? Let me translate: that money is going to DATA Network, not being used to buy WAL. Walrus is the underlying storage layer, so there may be demand—but turning that demand into buying pressure for WAL takes time. Migration progress, actual storage volume, willingness to pay—all unknowns.
Second thing: the AI storage narrative is compelling, but token unlocks extending to 2033 are even more significant.
Walrus is decentralized storage built by Mysten Labs. It uses RedStuff erasure coding, with 4.5x overhead and 1,000 shards, and focuses on verifiable storage for AI datasets. It’s comparable to Filecoin and Arweave, but more focused on AI compliance. In the long run, this is a real sector.
But look at the supply: 5 billion total, 2.6 billion in circulation, with the community reserve released linearly through 2033. New tokens unlock every month. How are you supposed to outlast a linear release schedule?
Third thing: the technical picture is leaning bullish, but negative funding rates are pouring fuel on the meat grinder.
The daily chart broke out of a descending channel, the moving averages are bullish, and the structure is strengthening. But in 24 hours, the price pulled back from $0.066 to $0.052, leaving an upper wick as overbought conditions cool off. Key support is at $0.050–$0.048, with secondary support at $0.045. Resistance is at $0.055–$0.058, with stronger resistance at $0.060–$0.066.
Open interest in derivatives is rising, and funding rates are significantly negative—shorts are crowded. That means a short squeeze is possible, but it also means the market is cautious. A short squeeze can give you a rush, but what happens after it’s over?
It ran from $0.02 to $0.066, more than tripling, and now it’s crashed back to $0.052. The Sui Foundation just invested $30 million, and the whole crypto world is shouting “AI storage revolution”—but whose pockets is that money actually going into?
First, the surface story: the news is explosive, but the price chose to drop first.
WAL climbed from its August low of $0.020 all the way to $0.066, up 90% on the monthly chart. The weekly chart broke out of a descending channel, and the moving averages are in a bullish alignment. And then? In 24 hours, it crashed from $0.066 back to $0.052—a 27% swing. The current price is $0.052 on Binance perpetuals. Market cap: $140 million. Circulating supply: 2.6 billion. Total supply: 5 billion. The candlestick chart tells you the breakout was real, and so is the pullback. But every indicator is shouting one thing: the good news has been priced in, and holders are taking profits. Are you buying in?
First thing: the Sui Foundation invested $30 million, but that money isn’t being used to buy WAL.
On October 12, the Sui Foundation announced a $30 million investment in DATA Network. Trace, an AI training data registry, is joining the Sui ecosystem, with Walrus designated as its default storage layer. Trace has already recorded 250 million AI training data receipts, with several million added per day. Walrus Console has also launched.
Sounds huge? Let me translate: that money is going to DATA Network, not being used to buy WAL. Walrus is the underlying storage layer, so there may be demand—but turning that demand into buying pressure for WAL takes time. Migration progress, actual storage volume, willingness to pay—all unknowns.
Second thing: the AI storage narrative is compelling, but token unlocks extending to 2033 are even more significant.
Walrus is decentralized storage built by Mysten Labs. It uses RedStuff erasure coding, with 4.5x overhead and 1,000 shards, and focuses on verifiable storage for AI datasets. It’s comparable to Filecoin and Arweave, but more focused on AI compliance. In the long run, this is a real sector.
But look at the supply: 5 billion total, 2.6 billion in circulation, with the community reserve released linearly through 2033. New tokens unlock every month. How are you supposed to outlast a linear release schedule?
Third thing: the technical picture is leaning bullish, but negative funding rates are pouring fuel on the meat grinder.
The daily chart broke out of a descending channel, the moving averages are bullish, and the structure is strengthening. But in 24 hours, the price pulled back from $0.066 to $0.052, leaving an upper wick as overbought conditions cool off. Key support is at $0.050–$0.048, with secondary support at $0.045. Resistance is at $0.055–$0.058, with stronger resistance at $0.060–$0.066.
Open interest in derivatives is rising, and funding rates are significantly negative—shorts are crowded. That means a short squeeze is possible, but it also means the market is cautious. A short squeeze can give you a rush, but what happens after it’s over?