HEX Price Stats
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Market Cap:$7,980,000,000
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Circulating Supply:173,410,000,000
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Total supply:633,540,000,000
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All time high:$0.5561 September 2021
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All time low:$0.0000145 January 2020
A Brief History of HEX
HEX coin is a peer-to-peer (p2p) staking network that was launched as a smart contract compatible ERC-20 token on the Ethereum (ETH) network in 2019. It utilizes the Ethereum network for sending and receiving HEX coins as well as interacting with the Hex smart contract. The consensus code and staking mechanism are carried out on the Hex smart contract. The token is a Blockchain certificate of deposit (CD) or time deposit, which means that it’s embedded with information about the exact time of deposit and the amount of time that has elapsed since it was deposited. The network uses CD to ascertain the sum of rewards that someone would receive for staking.
Since its launch in December 2019, Hex has seen a return on investment of about 3855%, the token recently reached an all-time high price of $0.5561 in the last quarter of 2021. Due to the current bearish run of the crypto market Hex’s price continues to suffer through 2022, in March, it dropped to $0.1 and has been dropping ever since. It is currently ranked #201 on coinmarketcap with a market cap of $7.98Bn.
Currently, the best place to buy Hex is uniswap, you just need to connect a cryptocurrency wallet to the exchange. You can also get Hex on some other exchanges such as Hotbit, Poloniex, Bitget, Bitmart, Yobit.
The Brain behind HEX
Hex was launched in December 2019 by Richard Schueler better Known as Richard Heart, he is a serial entrepreneur, high-profile YouTube personality, and philanthropist. He is also the founder of the pulse chain.
Advantages of HEX
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Referrers and those referred get bonus.
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Its value inflates as people claim HEX tokens.
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It is eco friendly.
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It is secure
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It is cheaper and faster to transact.
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You can earn more interest when you stake longer.
Disadvantages of HEX
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Scam controversy
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Not listed on any world major cryptocurrency exchange
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No obvious use cases
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Hex’s exact market capitalization is unknown
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Anybody can run it code
Use Cases of HEX
Hex developers claim that the token is designed as a store of value and the monetization of the proof of wait concept is the cryptocurrency use case.
Summary
The HEX coin news has been full of worries regarding whether the project is safe and whether it is a scam since its inception in 2019.
Accusations about the HEX founder’s origins were one of the bases for those doubts. According to data from algorithm-based predictions by Gov Capital, HEX could hit $1 per coin during the second quarter of 2023. However, these projections should not be taken as recommendations to invest in the coin, as many factors could weigh on the performance of the asset.
Sources:
What is Hex Cryptocurrency
https://www.investopedia.com/hex-definition-5217721
https://crypto.com/price/hex
https://coinmarketcap.com/https://hex.com/
