The rebound horn has sounded.

Many people are wondering why WAL isn't falling further; the answer actually lies in the on-chain data. The price support for this project is not unfounded — the burn mechanism and the reserve fund form a real business foundation. As the demand for AI data uploads surges, WAL's burning rate continues to accelerate, which means the supply side is tightening.

The key is the $0.145 price range. Here, the composition of buy orders is quite interesting — it's not just speculators throwing money in; more are actual users who need to buy in to pay for storage fees. This purchasing power, driven by real business needs, is far more resilient than funds driven purely by sentiment. The $0.138 level below is a strong support point for supply and demand balance; breaking below this would be very difficult.

From a safety margin perspective, the current buy-in risk-reward ratio is already very attractive.