WAL's market story today is interesting. On one hand, on-chain data doesn't lie — recent large holder positions have surged by 22% to 92 addresses, with these whale addresses averaging a cost basis around $0.158. The futures market's long-short ratio has also soared by 55%, indicating that funds are indeed reallocating. These big players are still willing to bet on the current position, likely because they see WAL's ecosystem as a foundation for AI and data storage infrastructure.

On the other hand, the risk is clearly visible. Up to 75% of the token supply (about 3.75 billion tokens) is still locked in vesting periods, and any unlock could trigger a sell-off. For medium-term holders, this uncertainty remains a critical concern. Whales are building positions, but the potential impact of subsequent liquidity shocks is uncertain.