HANA surged by 77% yesterday. Such sudden spikes are actually quite common in the crypto world—an originally popular project suddenly attracts big funds, and the market sentiment follows suit.

To put it simply, this rise was caused by a few factors coincidentally aligning. First, the project might have made some real moves, such as launching a mainnet, strategic partnerships, or gaining support from mainstream platforms, giving investors a legitimate reason to buy in. Second, HANA belongs to hot sectors like social finance and blockchain gaming, which tend to rebound together; as the sector recovers, projects within it naturally attract attention. Additionally, during the rise, trading volume surged dramatically, and short-term traders saw the upward trend in the candlesticks and started following the trend, creating a "buy more as it rises" cycle.

But one thing to note—HANA's token distribution is quite concentrated, with a few addresses holding large amounts. This means the price can be easily manipulated by big players, leading to very volatile swings. From the project's perspective, it aims to combine social and financial features, allowing users to trade while chatting. The concept sounds good, but execution and user retention are another matter.

In the short term, market sentiment remains strong, and the price may continue to rise for a few days due to inertia, but volatility will be extreme. Coins that suddenly spike often experience quick pullbacks afterward, which has become routine in the crypto space. Long-term, it ultimately depends on whether the project can truly attract users and turn its concept into practical applications. If user data continues to grow, the price will have a solid foundation; if it’s just a flash in the pan, the excitement will fade and the market will fall silent again.

In simple terms, HANA is currently playing out a "building a tall skyscraper from scratch" story. As for how high this building can go and whether it will stand firm, it all depends on whether there are real "building materials" behind it or if it’s just a passing gust.