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Jyoti Singh
May 15, 2020
by Jyoti Singh

HEX Market Cap Reaches Around $1 Billion, Still Cannot Undermine Scam Label

HEX token
The crypto analytics site CoinMarketCap reported that on May 14, 2020, the market capitalization of HEX token has reached over $979 million. The data aggregator platform also mentioned that the value of the token has reached $0.006.

It is to be noted that before mid-February none of the sites was able to measure the value of HEX because, at that time, it’s value was so small.

HEX Rewards Crypto-Holders

HEX is considered to be a crypto version of fixed deposits accounts because instead of rewarding miners, it rewards the crypto-holders.

HEX which is deposited in the form of ERC-20 token is locked up by the users in their accounts and later whenever the terms of the token mature, they will get their investment and the interest earned on it.

At present, there are only nine exchanges that allow HEX trading, one of them is Uniswap on which the volume of HEX in 24-hours was recorded $2.4 million.

Hotbit is another exchange that allows HEX trading and on it, the volume of the token was more than $900,000. Other exchanges like Coinsbit, Bidesk, p2b2b and Bitcoin.com has very low liquidity.

Whales Stakes HEX

However, the question here arose was why the value for the token suddenly started rising. To this most of the crypto-believers has stated on Twitter that most of HEX have been staked by whales and when it was mined the reward generated by then token went to those who have staked it.

After the high returns, some of the tribal users started believing that HEX token is very reliable. Users said, “Is Hex is a good investment this early? To me, as an investor, yes. I am up 35x”.

Now some of the people are saying that despite looking into the HEX’s matter carefully the critic claimed that token is a scam. The users also called the critics biased against HEX.

The founder of HEX has tweeted that on May 14, 2020, the price of the token reached an all-time high. It further mentioned that they have been hoping by the end of the year 2020, HEX reach $1.1 billion in market capitalization.

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    HEX Market Cap Reaches Around $1 Billion, Still Cannot Undermine Scam Label
    Jyoti Singh
    Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

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