Often referred to as the flagship cryptocurrency for the masses, a new entrant has appeared on the market for digital currencies. Hana or HANA, a relatively newly launched digital asset is the latest and the most popular one in the market as of now.
Hana is currently listed at $0.002182, and since the beginning of the current day, this cryptocurrency’s popularity has risen by 5.72%, according to multiple traders and investors. Now at $218,242.64 market cap HANA is at # 4078 in the ranking of cryptocurrencies which seems to show that Hana is not yet among the most popular cryptocurrencies but has its place among the others.
Nowadays, the total and circulating supply of HANA token is 100 million, which may also serve as the absolute maximum number of tokens in circulation. However, due to the code-implemented fixed supply cap, the token’s scarcity can increase in value over time as long as demand is growing alongside this limited cap.
The trading volume of Hana in the last 24 hours is $38,087 USD, making Hana number 3046 according to the daily trading volume. Thus, this percentage is quite small compared to more developed cryptocurrencies, but this is a 8.82% increase in comparison with the previous trading day, which may indicate a newround of increased interest.
Significantly, the volume-to-market cap ratio has undergone a fabulous increase of 17.45% in the last 24 hours in case of Hana.So, according to the table, both the criteria of volume of trade and market capitalization demonstrate significant strength in the shares of Hana. This is used by analyst to determine the level of trading activity to the size of the market in that particular asset where higher ratios show that activity of the coin has increased.
Hana was launched late in the year of 2018 6/12 by a team located in South Korea and Australia and is focusing on an objective that has not been occupied by any of the other cryptocurrencies. The project’s plan consists of sponsoring the world champion athletes with primary goals being the stable coin, integration, and sponsoring. This is not a typical cryptocurrency strategy which makes Hana stand out from the other cryptocurrencies which almost always emphasize financial and/or technological aspects.
Like most other emerging cryptocurrencies, Hana has its pros and cons. On one hand, having a localized, specific form of focus on direct athlete sponsorship could generate significant interest which would contribute to the creation of practical use cases rather than just imaginary ones. On the other hand, the cryptocurrency market is very saturated and unpredictable, many projects are not able to maintain their user base and growth over time.
Currently, investors and traders wishing to invest in Hana have several ways through which they can purchase and trade the token. HANA can also be bought and sold on centralized and decentralized mosaic trading platforms with Bilaxy as one of the major platforms through which people trade in HANA. Like any investment in cryptocurrencies, it is advisable that potential buyers thoroughly research before plunging any of their money into it.
As for the Connected Company Perspective, Hana has a potential key restraint connecting to its relation to the wider Hana Network. Whether there is a correlation between the two events is still unknown, at least the Hana Network identifies itself as a decentralized privacy layer with Trustless Interoperability and wants to solve the problem of security and confidentiality for all blockchains. It basically means that if Hana coin exists in this large environment, it is possible that as the environment grows it gets better use and acceptance.
That is the constant problem in the cryptocurrency market that will remain relevant as the processes evolve: what specific project to choose? The main idea of the coin’s ad campaign related to sponsorship of athletes may bring loyal target audience to the platform but it gives virtually no grounds for wider popularity among broader crypto population.
Going forward, the further growth and monetary success of Hana will, therefore, depend on factors such as the team’s implementation plan, others forming more use cases and partnerships, and most importantly the state of the crypto market. Prospective Hana investors must do so with a certain degree of skepticism and enthusiasm because the crypto market resembles the wild west.
Thus, Hana may be considered as a promising entity on the cryptocurrency market, focusing on athletes’ sponsorship program and stablecoin creation. Despite occupying a low standing in this sphere now, the recent activity uptrend and price increase signal increasing attention from the crypto audience. In so doing, key to the progressive nature of the project, it will be equally interesting to observe how the executive and specifically Hana will effectively deal with the future development in the world of digital assets.
