Walrus Explodes with $140M Backing and Mainnet Launch

• Walrus secures $140 million from top crypto investors, launches mainnet with Claynosaurz, and triggers a 10% surge in SUI token price.
• Mysterious whale accumulates $845,000 in $WAL tokens, buying consistently from $0.42 to $0.54, signaling potential long-term confidence.
• Walrus debuts on major exchanges like Crypto.com and Upbit, with a strategic 4% airdrop distribution and total token supply of 5 billion.

WAL, the native token of the Walrus protocol, is generating a buzz after the launch of its mainnet and airdrop. The token also secured listings on several exchanges, including Crypto.com, and is soon to be listed on Upbit, attracting both users to trade and liquidity to the protocol.

Walrus, a decentralized storage platform by Mysten Labs, boasts itself as cost-effective and programmable storage for NFTs, AI data, and more. It recently rolled out its Mainnet in partnership with Claynosaurz, a Web3 animation brand, to enhance user experiences with dynamic, interactive content. This news led to SUI’s price jumping 10%, from $1.50 to $1.65 in just a few hours.

Built on the Sui Network with a smart contract, the storage platform raised $ 140 million from Standard Crypto and a16z for a high-speed storage network. Notably, the integration with the SUI blockchain prompted a comparison of $WAL to “Filecoin meets Celestia.” It needs to be noted that $WAL is utilizing SUI’s “Move” programming language. Move is designed for secure and efficient asset management, a key component in a decentralized storage system.

Walrus: Whale Accumulates $845K in $WAL, Eyes Post-Airdrop Pump

Besides Walrus’s mainnet launch, the token drop occurred on 25 March 2025, meaning the project is still in development. With regards to Token Supply: the total supply of $WAL tokens will be 5 billion. 10% of the total supply is allocated for users. 4% of this was distributed through an airdrop to eligible users.

Meanwhile, on-chain researchers have identified a whale on a buying spree. The wallet holder 0xf7c2...e634 has been consistently buying $WAL tokens over a period, initially when the price was around $0.42, and continued even when the price surged to $0.54. The accumulated $WAL tokens, valued at around $845,000 (still growing), are being moved in small transactions to another wallet.

Market observers speculate that the accumulated tokens could reduce the available supply, potentially triggering a price surge once the airdrop selling pressure subsides. This is often interpreted as a bullish signal and reinforces the long-term potential of the Walrus token.