The Walrus project continues to make progress in mainnet construction, with the number of stored blobs surpassing 18 million. The Seal privacy layer feature, which provides strong privacy protection capabilities, is attracting an increasing number of AI applications for testing and integration. The project's usage-driven token burn mechanism is gradually showing effects, which in the long term will help manage inflation.

However, from a price perspective, WAL is under notable pressure recently. It has declined from a historical high of $0.76 to the present, falling over 80%, and indeed many have been cutting losses. Analyzing the pressure sources carefully, daily ecosystem incentive unlocks, early participants' profit-taking selling pressure, combined with adjustments in the overall crypto market, multiple factors converging have resulted in such a significant decline.

However, it is worth noting that obvious bid accumulation has appeared around $0.13. Some long-term bullish holders continue to add positions at low levels, while simultaneously choosing to stake for yields. This behavior to some extent reflects confidence in the project's fundamentals. Bottom support is gradually taking shape.