On May 21, HAEDAL opened trading on Binance, directly surging 23% to a current price of $0.16. With a major exchange listing, more people can buy and sell, liquidity is rapidly increasing, and the price is being directly pushed up. Binance is giving away 30 million HAEDAL tokens for free to BNB holders, which is 3% of the total supply. As long as you stake BNB, you can receive it. This unexpected windfall has attracted a large number of people to rush in and buy, causing short-term buying pressure to explode. Staking HAEDAL on DeFi platforms like NAVI has seen annualized returns soar to 149%, many times higher than bank wealth management. Many are buying in frenzy to earn interest, further pushing up the price.

Can it still rise in the medium term? Hugging the thigh of Sui.
The amount locked on the Sui chain has surged to $2 billion this year, with HAEDAL capturing 50% of the market share as the leading staking token on the chain. Just like how Taobao thrived and boosted Alipay, the stronger the Sui ecosystem, the more HAEDAL benefits.

Big names are endorsing it. Top venture capital firms like Hashed and OKX have invested, and institutions like Grayscale are also buying. On-chain data shows large holders are continuously accumulating tokens, effectively providing price support.

Cross-chain ambitions: Plans to move the staking token haSUI to chains like Ethereum and Solana. If successful, HAEDAL could become a multi-chain universal staking tool, with greater potential.

Be cautious of these risks.

Major shareholders want to cash out. The team and investment institutions hold 35% of the tokens, and unlock will begin in the second half of the year. At the current price, they could sell for $68 million. If they dump their holdings, the price may collapse.

Is the price overvalued? The current market cap is $160 million, but the revenue is quite low, making its valuation double that of similar projects. If the growth rate of the Sui ecosystem slows down, it may crash.

Purely relying on speculation. The current rise is entirely due to the exchange listing and airdrops. If the cross-chain feature is delayed or if the Sui chain fails to attract new users, funds might flee to trade other tokens.

What to do now?

If it stabilizes above the previous high of $0.18, consider a small position to chase the rise. If it reaches $0.2-$0.25, be ready to sell if it drops to $0.15. If it falls below the $0.12-$0.15 support range, it indicates selling pressure from unlocks, so don’t stubbornly hold.

Focus on whether the locked amount on the Sui chain can reach $3 billion and if there are any developments with the haSUI cross-chain. If these targets are met, the price could rise to $0.3. Before the team unlocks, consider selling 30% in Q3 this year, while keeping a base position for long-term bets.

If cross-chain functionality is truly realized, HAEDAL could become a multi-chain staking infrastructure, potentially rising to $0.5-$0.8.

Keep a close eye on these signals.

Large holder movements: If one day, a large holder suddenly transfers over 50,000 tokens to the exchange, it may indicate they are planning to cash out.

Sui chain upgrade: The success of the mainnet upgrade will directly impact HAEDAL's demand.

Competitive landscape: If established staking protocols like Lido see faster locked amounts rising, HAEDAL could be at risk of losing market share.

HAEDAL has surged in the short term thanks to its listing on Binance and airdrops. In the medium term, it depends on whether the Sui chain can continue to perform well. Ordinary people should not get overly excited; if the price rises too much, consider reducing positions, and wait for a dip to the support level to buy back. It's crucial to guard against potential unlock-induced sell-offs in the second half of the year while also betting on whether the cross-chain can succeed. Remember: If you make a profit, run quickly; if you incur losses, don’t stubbornly hold on.

Opportunities and risks coexist in the crypto world; maintaining vigilance and finding the right timing is key. I have also discovered a short-term project with huge potential for explosive growth. If you want to follow along, click on my avatar to stay updated, and I'll share insights for free.

$HAEDAL

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