Walrus is a decentralized storage solution built on the Sui blockchain, developed by the Mysten Labs team. The project completed a $140 million funding round in March 2025 and subsequently launched its mainnet. From a token perspective, the total supply of WAL is set at 5 billion tokens, with a current circulating supply of 1.577 billion tokens, accounting for 31.54%, and an overall market cap of approximately $230 million.

Compared to traditional storage solutions, Walrus adopts RedStuff erasure coding technology, which performs outstandingly in cost efficiency. The subsidized storage price is about $50/TB/year, significantly lower than competitors like Filecoin and Arweave, demonstrating a clear cost advantage.

The ecosystem development in 2025 has made considerable progress. The project received support from Grayscale Trust and completed integrations with multiple dApps. However, in terms of revenue, the protocol is still in the early growth stage, with Q4 2025 revenue only reaching $18,000, indicating that commercialization still has a long way to go. Market participants generally favor applications in privacy storage and AI data verification, and community sentiment remains positive overall. However, it is important to note that token concentration is quite prominent— the largest holder controls 44.8% of the circulating supply, which poses some risk.

In terms of price performance, WAL has shown a strong trend over the past week. It rose from $0.1173 to $0.1475, a 25.7% increase, successfully breaking through multiple technical resistance levels. On-chain data shows that the circulating supply has been increasing daily, recently adding 32.7 million tokens (as a result of linear unlocking), bringing the total circulating percentage up to 31.54%. From a technical perspective, multiple timeframes show bullish arrangements, further supporting the upward trend. Current technical support is at $0.1445, with resistance concentrated in the $0.1490–$0.1502 range.

From a short-term contract perspective, a long position can be considered near $0.1470, with a target set at $0.1550 and a stop-loss at $0.1420. This setup offers a risk-reward ratio of approximately 1.60. Of course, markets are volatile, and any strategy should be adjusted according to individual risk tolerance and real-time market information. Feel free to share your views and ideas in the comments section.