@Walrus 🦭/acc doesn’t fit cleanly into the cycles traders are used to, and that’s exactly where most people misprice it. The market keeps trying to value WAL like a DeFi token, while its real demand curve behaves more like infrastructure rent. Storage usage doesn’t spike on hype; it creeps with developer commitment, application lock-in, and switching costs. That creates delayed reflexivity most charts don’t capture in real time.
The overlooked mechanic is how staking pressure scales with reliability, not throughput. As storage epochs mature, nodes that underperform get economically marginalized, forcing higher-quality operators to post more WAL. That quietly reduces liquid supply during periods when price action looks technically weak. You can see this divergence when staking ratios rise while spot liquidity thins, a setup traders often misread as distribution.
Right now, the risk isn’t adoption slowing, it’s pricing efficiency. WAL trades before usage shows up on dashboards, and after speculation exhausts itself. The edge isn’t predicting hype, it’s timing when infrastructure demand finally collides with constrained float.
