Deep Dive
1. Ecosystem Security & Post-Hack Sentiment (Bearish Impact)
Overview: The May 2025 Cetus Protocol exploit drained $4.9M in HASUI (CCN), contributing to HASUI’s 30-day price decline (-2.49%). While 80% of stolen funds were frozen, lingering fears about Sui-based DeFi security persist.
What this means: The incident temporarily eroded confidence in Sui’s DeFi infrastructure, where HASUI is widely used. Until compensation concludes and audits verify protocol fixes (targeted for Q3 2025), cautious sentiment may suppress demand.
2. Sui’s Recovery & Network Upgrades (Mixed Impact)
Overview: Sui froze $160M stolen assets via validator coordination and launched a $10M security fund (Weex). The network’s TVL held at $1.6B post-crisis, with HASUI remaining a top-4 protocol by TVL.
What this means: Successful fund recovery (projected ~80%) could restore trust, but HASUI’s 24h turnover ratio (0.0065) signals thin liquidity – minor sell pressure could amplify volatility during recovery phases.
3. DeFi Utility & Staking Demand (Bullish Impact)
Overview: HASUI enables yield compounding across Sui’s DeFi ecosystem (lending, DEXs). Despite the hack, Sui’s stablecoin circulation grew to $1B+ (DeFiLlama), suggesting underlying demand for liquid staking tokens.
What this means: If Sui maintains its position as a top-5 blockchain by transactions, HASUI’s utility in yield strategies could drive accumulation. The token’s 1-year +322% gain shows structural demand despite recent turbulence.
Conclusion
HASUI’s medium-term trajectory hinges on Sui’s ability to convert post-crisis reforms into renewed DeFi activity, while technicals suggest consolidation near $3.52 (pivot). Will Q3’s security audits and compensation payouts catalyze the next leg of HASUI’s staking adoption?