Today, the overall market has warmed up, and many tokens that had previously dropped significantly are beginning to show signs of emotional recovery.

In this environment, strong rebounds after a sharp decline are often the first direction that capital focuses on, and there is one asset that I think can be given special attention: $ELSA .

From a technical perspective, $ELSA surged to 0.40 USD on January 23, after which it experienced nearly a 70% deep pullback, currently repeatedly bottoming in the 0.11–0.12 USD range.

The key is in the contracts; it previously dropped as low as -1.66%, and the short position cost is extremely high, indicating a typical oversold state.

Moreover, on-chain data also shows that large holders have not concentrated their transfers to CEX or executed panic selling.

In fact, my optimism for ELSA is not just a story of a "pure technical rebound"; more importantly, it relates to the degree of project implementation itself.

"Turning intentions into on-chain operations using natural language" is something I heard a lot about last year, but there are very few projects that have actually turned this into a usable product. @HeyElsaAI is one of the few teams that has successfully executed at the operational level.

HeyElsa is essentially not a chatbot, but an AI-driven crypto execution assistant: you just need to issue a command in one sentence, and the underlying intention engine + AI Agents + on-chain scripts will automatically complete a whole set of operations such as cross-chain, currency exchange, staking, stop-loss, and alerts, while trying to explain each step clearly. It truly compresses the most torturous execution process in Web3 rather than piling up concepts.

In terms of actual data, HeyElsa also has a starting point: it has processed a cumulative on-chain execution volume of 439 million USD, connected with over 930,000 wallets, and is promoting new standards like x402 and ERC-8004.

The financing background is equally solid, having completed a 3 million USD financing in June 2025, led by M31 Capital, with participation from Coinbase Ventures (Base ecosystem fund), making it part of the "orthodox route" within the Base ecosystem.

ELSA's design is also strongly tied to usage: staking can enjoy a maximum 50% fee discount and share protocol income; it is used for AI capability unlocking and pay-as-you-go; at the same time, 10% of the platform's income is used for continuous burning, forming a deflationary model linked to actual usage.

Overall, ELSA is in a phase of extreme pessimism but continuous product advancement, with short-term expectations for a technical rebound, while the medium to long-term depends on real user growth and liquidity improvement.