Regarding the Walrus project, the market is filled with all kinds of hype, such as "revolutionizing the DeFi landscape" and "a new paradigm for asset management," which makes many people get goosebumps.

But a calm analysis reveals that Walrus is actually a decentralized storage protocol, specifically handling heavy-duty storage tasks like large files, AI training datasets, and video content. Governance voting and staking mechanisms are at best auxiliary features; claiming them as financial innovations seems a bit like storytelling.

This can also be understood—given the current fundraising environment, who dares not to wave the flags of DeFi or AI? In the end, market focus determines all.

Walrus's background is indeed competitive. Institutions like Standard Crypto and Franklin Templeton have invested $140 million, and the team comes from Mysten Labs, a core project in the Sui ecosystem, with strong technical capabilities.

The problem is that the storage track itself is already crowded. Arweave and Filecoin have long occupied leading positions, with new entrants emerging continuously. Walrus's hope that "AI data explosion will drive storage demand" sounds attractive, but in terms of implementation progress, cross-chain interoperability, and zero-knowledge privacy features, most are still in the planning stage.

Looking at the market, the token price hovers around $0.14, with no sharp surges or liquidation risks. Discussions on social media are lively, but the repetition of boilerplate phrases is high, and genuine in-depth conversations are rare.

Interestingly, from a medium- to long-term perspective, data volume will only grow in the AI era. Centralized cloud storage servers frequently malfunction, which is not surprising. The decentralized storage track definitely needs projects to meet these demands. Whether Walrus can shoulder this responsibility depends on the speed of technological implementation and ecosystem development.