Institutional investors have recently been quietly exploring an interesting direction—$WAL. After reviewing several holdings reports, it’s clear that leading funds are increasing their positions. What is the underlying logic behind this?

At first glance, it seems like an ordinary token, but a closer look reveals that its operational logic is quite hardcore. All data storage projects within the Walrus ecosystem require the consumption of $WAL as fuel. The more active the ecological applications, the greater the fuel consumption. This is not just a conceptual design but a real demand-driven mechanism—ecological prosperity directly drives token burning, naturally creating deflationary pressure.

Even more interesting is the staking mechanism. Holders who stake $WAL can not only earn a share of the ecological revenue but also have governance voting rights within the protocol. This design transforms the token from a simple trading tool into an equity certificate for ecosystem participants. The combination of demand-side fuel consumption, supply-side deflation, governance rights, and revenue sharing creates a multi-dimensional value capture.

Currently, the market has not fully digested this logic, and there is still room for the price to align with the ecosystem’s fundamentals. Smart capital has already begun to act. Ecosystem assets supported by real economic models are indeed worth paying close attention to.