In a modest corner of this vast new world called cryptocurrency—where fortunes rise and tumble with the dignity of a drunken uncle—the token known as HAEDAL performed an acrobatic leap today. Some say a 50% surge, but who bothers with numbers anymore when hope comes so cheap?
As per those venerable keepers of digital lore, CoinGecko, HAEDAL, embodiment of a liquid staking protocol (and, some whisper, a glorified casino chip), danced up to a dazzling $0.174 during the Asian morning on May 2. This, incidentally, marks 100% gains since debut, as if all the suffering of early investors was simply a fever dream. The market cap—an ephemeral figure that keeps grandmothers up at night—touched $32 million. Volume, by comparison, only climbed a gentle 20%, that is, if you call $180 million gentle.
The other shoe fell—softly, with the grace of a bureaucrat—when Bithumb, South Korea’s mighty exchange, announced a new KRW trading pair for HAEDAL. The very same coin that, days ago, could not have purchased a decent evening out in Moscow. Make no mistake: at 6:00 PM KST on Friday, the 2nd of May, one may exchange these tokens for Korean Won or, should you desire, dignity.
One must tip one’s hat: Bithumb isn’t first here. Oh no. Binance Alpha, Bybit, KuCoin, MEXC—all took this peculiar infant to market on April 29, soon after Haedal’s fabled token generation event and mainnet launch. (Who comes up with these names—poets, folklorists, or the deeply caffeinated?) They blessed the world with a supply of 1 billion tokens. Words fail.
On the derivatives front, news promptly made the gamblers—sorry, traders—prick up their ears. CoinGlass, an oracle for numbers, revealed HAEDAL futures saw open interest skyrocket 210% within 24 hours, brushing past $45 million. The funding rate, a steady 0.0050%—as tantalizing as day-old bread—suggested everyone is betting up. It is, after all, what one does.
A poignant interlude: at dawn, Haedal attempted generosity, distributing 50 million HAEDAL tokens to its users and Sui’s ecosystem partners—a gesture met with classic gratitude: a collective sprint to cash out, forcing a 50% price drop. So much for the milk of human kindness.
What in Heaven’s Name is Haedal? 🤔
Born of the fevered dreams of 2023, Haedal is a liquid staking protocol built atop the Sui blockchain. With the nobility of a master chef swapping vodka for moonshine, it lets users stake SUI tokens and receive haSUI, a liquid, yield-generating derivative: a sort of financial nesting doll, endlessly unwrapping. Why choose between risk and reward when you can simply have both?
HAEDAL itself is the protocol’s trusty workhorse: handling governance votes, delivering staking rewards, waving liquidity incentives around, and offering discounts on fees—because nothing says “revolutionary technology” like not paying full price.
January 2025: Haedal secured seed funding from giants like Hashed, OKX Ventures, Animoca Brands, and the Sui Foundation, all eager to usher in a sparkly new era of liquid staking and DeFi on the Sui network. What could possibly go wrong?
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2025-05-02 11:10