WAL Token Soars: Walrus Foundation Raises $140 Million Amid High Demand in Sui Ecosystem

The decentralized storage solution, Walrus Foundation, part of the Sui ecosystem, has garnered significant attention by successfully raising $140 million via its WAL token sale, according to Fortune magazine. The investment round, spearheaded by Standard Crypto, attracted prominent investors such as Andreessen Horowitz‘s crypto division, Electric Capital, and Franklin Templeton, highlighting the strong institutional interest in this nascent sector. The new valuation of the Walrus protocol post-sale stands at an impressive $2 billion. Developed by Mysten Labs, the Walrus protocol is designed to enhance decentralized data storage capabilities. Co-founder and CEO Evan Cheng remarked on the overwhelming demand for the WAL token, which underscored the confidence investors have in the project during the three-week fundraising period.