WAL and Sui had many similarities in their early stages


➤ First, let's talk about funding and trading aspects
1. Grayscale established trusts for walrus and DEEP, completing the whole package, which is a clear signal for institutional entry
2. Last year, when Sui was included in the trust, Sui had just launched. On August 7, 2024, the Sui trust was introduced at a price of $0.8, which was the average cost price for most people
Walrus and Sui have many similarities. After the first wave, Sui reached $2 and then returned to $0.6-$0.8, while walrus doubled from its launch high of $0.77. During this time, it remained stable around $0.4, accumulating chips, with a lowest price of $0.35
3. The clear financing cost for walrus institutions is $0.4, which will only start unlocking on March 27, 2026. The current price of $0.4-$0.45 is also the average cost for most people, with minimal profit. The prolonged sideways movement can be seen as a healthy process of chip turnover and accumulation. The market is cleaning out short-term speculators and profit-takers from airdrops, and could start at any time.
4. Sui's operators are different from other malicious market makers; all their chips were purchased from the secondary market, including Sui, DEEP, and WAL. Early investors have not unlocked their investments.

➤ Changes in the fundamentals of the Walrus project
1. Walrus has recently started to focus on promotion again, with frequent actions, including launching Kaito's leaderboard and a collaboration with the large web2 company Onefootball (with 200 million fans worldwide).
2. Sui updated its narrative during the SuiBasecamp in May, stating: Sui is a future-oriented Web3 full-stack infrastructure, with built-in liquidity (DeepBook), verifiable storage (Walrus), secure access (SEAL), high-performance networking (SCION), and off-chain computing (Nautilus). Walrus is the most important part of this.
3. The timing of the trust launch by Grayscale is highly similar to last year's Sui.
4. The mining incentives for Walrus have increased significantly, with an on-chain annualized rate of 40%, and a large influx of funds is starting to flow into WAL.
5. The second round of airdrops is on the way (requiring staking of WAL), acting as a market catalyst

➤ My trading strategy
Entry and exit strategy: buy at spot prices of $0.4-$0.46, set grid between $0.37-$0.8. Control liquidation price at $0.34. All spot WAL is mined on-chain, and part of the market-making similarly refers to the grid's set range.

If the market ends and falls, I will exit at $0.4, as it indicates a possible misjudgment, and I will look for new entry opportunities.

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

#WAL #SUI