#walrus $WAL @Walrus 🦭/acc

Market Positioning in a Reset Phase

At current valuations, Walrus trades far below prior cycle highs while maintaining healthy liquidity for its size. That disconnect matters. The market is pricing it as optional infrastructure, not as a core data primitive—yet its fundamentals suggest otherwise. With a modest circulating percentage and a fully diluted valuation that assumes minimal future adoption, the asymmetry favors execution. Historically, infrastructure protocols re-rate not on hype cycles but on proof of utility: sustained volumes, predictable fees, and ecosystem dependency. Walrus sits early in that curve, which is precisely when long-term allocators begin paying attention.