Important points
- Binance Alpha announces an airdrop event featuring Walrus (WAL), and the event will go live today at 7:00 PM (UTC).
- Existing users of Binance Alpha who meet the necessary eligibility criteria can claim 150 WAL tokens.
- WAL is currently underperforming and market sentiment remains bearish.
- Investors are advised to approach WAL with caution.
The Walrus (WAL) has announced Binance Alpha Airdrop for existing users of the Alpha platform. The event starts today at 7pm (UTC). To be eligible for the event, participants must meet the Binacce Alpha Points criteria. The token is currently underperforming and market sentiment remains bearish. Experts recommend a cautious approach to WAL.
WAL token request event details
Binance Alpha announced. air drop An event featuring Walrus (WAL). Existing users of Binance Alpha can claim 150 WAL tokens. To obtain WAL tokens, participants must hold at least 210 Binance Alpha points. Binance Alpha tokens can be earned through various engagements such as trading and participating in events.
WAL token request events last 24 hours. According to the official account, the event will proceed in two stages. Initially, the eligibility criteria is to have at least 210 alpha points. In the second phase, the required point threshold is lowered. The second stage of the event requires at least 195 alpha points. Phases proceed on a first-come, first-served basis. The first phase lasts 18 hours, after which 6 hours are allocated to the second phase. The required threshold will decrease by 15 points every hour until all WAL tokens are distributed in Phase 2. This event caused immediate selling pressure and caused a decline in Walrus (WAL).
Walrus (WAL) current market scenario: bearish sentiment continues
As of this writing, WAL’s price is $0.3803. The token experienced a decline of 4.82% in the past 24 hours. of Market capitalization has reached $562.19 million. WAL price has fallen 7% over the past week. Walrus is underperforming compared to the cryptocurrency market. Technical indicators suggest that bearish sentiment prevails.
WAL token is currently trading below 50 days Simple Moving Average (SMA) $0.412554. 14 days Relative Strength Index (RSI) It is 48.61. Both are reinforcing bearish sentiment. Over the past 30 days, WAL has had only 14 green days. Volatility remains high at 5.34%. According to experts, if the coin fails to sustain between $0.363 and $0.383, further decline is imminent. however, MACD Crossover is still bullish. However, overall technical indicators are giving a weak signal. In addition to the selling pressure caused by the announcement of the Binance Alpha Airdrop event, weakness in the altcoin market as a whole further worsens WAL’s outlook.
What’s next for WAL?
The Walrus platform enables scalability and storage of large-scale unstructured data such as media and AI data sets. Walrus is built on Sui, with its native token WAL having both utility and governance functions. Tokens can be used for staking and payments within the ecosystem. Whether WAL can weather the storm and continue its upward trajectory will depend on several factors, including new strategic partnerships that the parent platform can secure, regulatory developments regarding the Sui ecosystem, and related exchange-traded fund approvals. Furthermore, around 27% of the tokens out of the total supply of 5 billion are not unlocked, creating future dilution risk.
Investors are advised to approach WAL with caution as the token remains highly volatile. Investors should closely monitor news regarding strategic partnerships Walrus has forged, regulatory and technological changes in the broader Sui ecosystem, and movements in key market indicators to measure related gains and losses. Cryptocurrency experts recommend thorough risk assessments and the adoption of risk mitigation strategies such as portfolio diversification.
