Walrus has many similarities with Sui in the early days

➤ First, let's talk about capital and trading strategies.

1. Grayscale has set up trusts for Walrus and DEEP, completing the entire package, which is a clear signal for institutional entry.

2. Last year, when Sui was included in the trust, Sui had just launched. The Sui trust was introduced on August 7, 2024, at a price of $0.8, which was the average cost for most.

Walrus and Sui have many similarities; after Sui reached $2, it fell back to $0.6–$0.8, while Walrus doubled from its launch to a peak price of $0.77. During this time, it consistently hovered around $0.4 to accumulate chips, with a lowest price of $0.35.

3. The institutional financing cost for Walrus is $0.4, which will only begin to unlock on March 27, 2026. The current price of $0.4–$0.45 is also the average cost for most people, yielding little profit. A prolonged sideways movement can be seen as a healthy process of chip turnover and accumulation. The market is cleaning out short-term speculators and airdrop profit players, and it could start at any time.

4. Unlike other malicious market makers, the Sui market started with all chips purchased from the secondary market, including Sui, DEEP, and WAL; early investors have not unlocked their holdings.

➤ Changes in the fundamentals of the Walrus project

1. Walrus has recently started to promote heavily again, with frequent actions, including the launch of the Kaito leaderboard and collaboration with the large web2 company Onefootball (which has 200 million global fans).

2. In May, Sui updated its narrative at SuiBasecamp: Sui: Future-oriented Web3 full-stack infrastructure, with built-in liquidity (DeepBook), verifiable storage (Walrus), secure access (SEAL), high-performance network (SCION), and off-chain computing (Nautilus). Walrus is the most important link among them.

3. The timing of the trust launch with Grayscale is highly similar to last year's Sui.

4. The mining incentives for Walrus have greatly increased, with an on-chain annualized return of 40%, and a large amount of capital has begun to flow into WAL.

5. The second airdrop is on the way (requires staking WAL) and will act as a market catalyst.

➤ My trading strategy

Entry and exit strategies: buy spot at $0.4–$0.46, grid settings between $0.37–$0.8. The liquidation price is controlled at $0.34. All spot WAL is being mined on-chain, with part of it being market-making, also based on the grid setting range.

If the market ends up dropping, I will exit at $0.4, as this indicates a possible misjudgment, and I will look for re-entry opportunities.

Will Walrus become the next betting opportunity for Sui? I believe the market will soon provide an answer.

#WAL #SUI