As the blockchain analog of the Certificate of Deposit used in traditional financial markets, HEX is supposed to be a store of value to replace it. On the Ethereum network, HEX is based on the ERC network. HEX is also built to take advantage of the Ethereum network’s burgeoning DeFi (Decentralized Finance) ecosystem in cryptocurrencies.
The project allows the users to stake their coins and in return, new HEX coins are minted and provided to them. It includes measures that stimulate price appreciation and disincentives price damage. Stakers who cease their stake early are penalized by the HEX smart contract, while those who stake higher amounts of HEX for longer durations are rewarded.
Price Movement
HEX is now trading at $0.2256, up over 6% in the previous 24 hours, during the writing of this article.
Within this time frame, the lowest value was near $0.2117 and the highest was around $0.2292. According to the coin market cap that provided the recent data, the coin is at 201st place and is on many traders’ watchlists. It is currently one of the top gainers among the top 200 coins.
HEX approached its new All-Time High around the price of $0.5323 during the month of September. It was a quick upward surge, but the price has slowly retraced back to a lower level. Today’s trading volume, on the other hand, has risen by over 21.64 percent.
The top exchanges for trading the coin are currently HitBTC, Bitget, Uniswap.
Technical Analysis – Hex
The coin is at a very decisive point from where its future movement can decide the trend of the market. If the price can stabilize itself here, we can look for a higher high and higher low. If it fails we can look for a mitigation of the order block that lies below.
The order block has remained untapped to date and the price movement of the next few days can decide whether it taps there or not. If it goes there, we can look for a possible long.
Price Prediction – Hex (HEX)
Walletinvestor thinks that HEX is a good investment. According to them, the one-year projection puts the coin at two times the current price. In one year, the price is expected to reach a value of $0.530. But the five-year projection puts HEX at a value of $1.795.
