Check out WAL insights during 20251010 19:00 UTC
Long article:
Walrus (WAL), a new decentralized storage token focused on artificial intelligence, saw a price decline of 16.78% after its major listing on CEX. Key highlights:
1. Momentum of the new listing: WAL, a new decentralized storage project focused on artificial intelligence, launched on the major CEX with HODLer Airdrop and trading promotions, enhancing initial exposure.
2. Price Volatility: The token experienced significant volatility, dropping 16.78% in 24 hours to an all-time low, with a large portion of the supply still closed and potential selling pressure in the future.
3. Active Community: Community sentiment is active, focusing on the new listing, airdrop distribution, and short-term price movement amidst market volatility.
Positives
1. Project Tool: Walrus (WAL) is a decentralized data storage protocol for the age of artificial intelligence, built on the Sui network, aimed at making data trustworthy, provable, monetizable, and secure, providing strong fundamental utility.
2. Major CEX Listing and Airdrop: WAL was recently listed on a major CEX with multiple trading pairs. The HODLer Airdrop distributed 32,500,000 WAL to BNB holders, enhancing initial exposure and adoption.
3. Trading Offers: To celebrate the listing, one of the major exchanges is running two promotional offers with a total prize pool of 25,000,000 WAL in the form of token vouchers, stimulating trading activity and enhancing liquidity.
Risks
1. Significant Price Drop: WAL's price has decreased by 16.78% in the past 24 hours, hitting an all-time low of 0.3079 today, indicating strong selling pressure post-listing.
2. High Volatility on Listing: As a newly listed distinctive token, WAL shows high volatility, with rapid price fluctuations and an overall downward trend in recent hours, which is typical for new listings.
3. Large Locked Supply: While 29.57% of the total supply is traded, 70.42% remains locked, posing a potential risk for future selling pressure as these tokens become unlocked.
Community Direction
1. Mixed Sentiments: The community shows active participation, discussing the new listing, airdrop claims, and speculating on price movements, with some highlighting volatility while others seek bullish entry points.
