Altcoins News
By Sakamoto Nashi
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Binance Alpha Airdrop Triggers Heavy Sell Pressure. The sell-off began shortly after Binance Wallet listed Walrus (WAL) on its Binance Alpha platform,…
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Technical Resistance and Market Sentiment Weigh on Price. Following the airdrop, WAL faced technical rejection at its 7-day Simple Moving Average (SMA) of $0.
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Walrus: A Decentralized Storage Solution on Sui. Walrus (WAL) is a decentralized data storage protocol built on the Sui blockchain, designed for…
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Analysts Call It a Typical Post-Airdrop Correction. Market experts describe the WAL decline as a classic post-airdrop correction.
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Broader Market Headwinds Add Pressure. The WAL decline also coincides with a broader cooldown in the altcoin market.
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Expert Outlook: Short-Term Pain, Long-Term Potential. Industry experts believe Walrus’s fundamentals and integration within Sui’s modular architecture…
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Conclusion: A Temporary Setback for a Strong Project. Walrus’s post-airdrop sell-off underscores the volatile nature of crypto markets, especially…
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The cryptocurrency market faced another wave of volatility as Walrus (WAL) tumbled sharply following its Binance Alpha airdrop campaign.
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At the start of the trading session, WAL was priced at $0.4042, but heavy selling pressure soon pushed it down to $0.379, marking a 7.52% weekly loss.
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The campaign featured a two-phase structure aimed at rewarding early participation:
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Phase 1 (First 18 hours): Users needed at least 210 Alpha Points to qualify.
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Phase 2 (Next 6 hours): The threshold dropped by 15 points per hour, starting at 195, until the airdrop allocation was completed.
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While the event boosted engagement and liquidity, it also led to rapid token claims followed by immediate profit-taking, a common outcome after airdrops.
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According to CoinMarketCap, daily trading volume surpassed $25 million, signaling strong activity but also highlighting widespread liquidation by early recipients.
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Following the airdrop, WAL faced technical rejection at its 7-day Simple Moving Average (SMA) of $0.404 and the Fibonacci 23.6% retracement at $0.433.
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