The Walrus project continues to make efforts in mainnet development, with the number of stored blobs surpassing 18 million. Among them, the Seal privacy layer feature is attracting more and more AI applications to test and integrate due to its strong privacy protection capabilities. The token burn mechanism driven by usage adopted by the project is also gradually taking effect, which is beneficial for inflation management in the long term.

However, from a price perspective, WAL has recently come under significant pressure. It has fallen from its all-time high of $0.76 to the current level, dropping over 80%, and many are indeed cutting losses. A careful analysis of the pressure sources shows that daily ecosystem incentive unlocks, early participant profit-taking and selling pressure, combined with the overall adjustment of the crypto market, have led to such a large decline.

But it is worth noting that there is a clear accumulation of buy orders around $0.13. Some long-term holders optimistic about the project's prospects continue to add positions at low levels and choose to stake for yields, which to some extent reflects confidence in the project's fundamentals. The bottom support is gradually taking shape.