1. Fundamentals and Project Risks

1. Project positioning and competitiveness are weak

From public information, the Hana Network attempts to combine 'social + DeFi / P2P rewards' to pursue a route of Web4 / social + trading. 

However, in the crypto world, there are many such 'social + finance' projects, and competition is fierce. If product functionality, user experience, and network effects cannot be established quickly, it may be difficult to form a competitive moat.

2. Token economy / Token release suppression

Almost all crypto projects will design a token unlocking / release mechanism (vesting / unlock schedules). If a large amount of token unlocking is poorly absorbed by the market, it could cause selling pressure.

According to ICO / Tokenomics information, HANA's total supply is 1 billion (1,000,000,000) tokens. 

If early investors’ lock-up periods end or the team / advisors / funds unlock their holdings, selling pressure may occur.

3. Overvaluation in fundraising / Financing risk

According to the information, HANA has already received certain financial support in the early financing stage. 

If the project’s development fails to meet market expectations (user growth, revenue, ecosystem building, etc.), the market may adjust expectations and make significant corrections to the valuation.

4. Difficulty in ecological implementation / User growth

Having a vision (such as 'TikTok-style social + finance') is a good start, but the key lies in implementation and user retention. If it is impossible to continuously attract users, maintain activity, and form network effects, it is likely to fall into the risk of being a 'castle in the air'.

5. Insufficient liquidity / Trading volume

From CoinGecko, HANA's 24-hour trading volume is very low (around tens to hundreds of dollars), and market liquidity is extremely weak. 

Low liquidity means that large orders can easily affect prices, and entry and exit costs are high, which in extreme cases can lead to price collapses.

⸻

2. Market / Macroeconomic Risks

1. Overall downward pressure on the crypto market

HANA is a small-cap, highly speculative asset, and its price can easily be influenced by overall crypto market sentiment (bull and bear cycles). If Bitcoin, Ethereum, or mainstream assets continue to decline, small-cap tokens usually bear the brunt.

2. Regulatory risk

Countries are increasingly tightening regulations on crypto assets, including the review of token securitization, exchange compliance, KYC / AML requirements, etc.