LIECHTENSTEIN / ACCESSWIRE / April 1, 2020 / HEX, a cryptocurrency that launched on the Ethereum network via a Bitcoin UTXO snapshot on December 2nd, has consistently outperformed predictions of both price and levels of adoption since its launch nearly four months ago.
Created by Richard Heart, HEX is the world's first high-interest blockchain certificate of deposit (CD). As such, HEX lets users stake their tokens in return for interest. This means that HEX users can enjoy interest payments ranging from 3.69% to 369%. The former if 99% of the total supply is staked, the latter if 1% of accounts have staked. Interest on these stakes is given in the form of additional HEX tokens. The market value of a stake is determined by how long the coins are locked as well as the price of HEX upon maturity.
HEX Prices Continue to Increase. HEX Did 8x in 30 Days, 10x in 77 Days
Why does the HEX price keep going up? Unlike Bitcoin, inflation in HEX is paid directly to stakers. HEX has been designed for people to lock up their coins. When the coins are locked (staked), they disappear from the market, creating scarcity and thereby driving the price of HEX up. On top of the 3.69% minimum interest a year awarded to stakers, there are a variety of bonuses that can lead to much higher returns on investment. Bigger Stakes bonus, Longer Stakes bonus, and Penalty coins from early unstaking which are thereby applied to current stakers, are all ways that HEX stakers can multiply their ROI. These are percentages that do not happen in the banking sector.
HEX has been mathematically developed to award stakers even in a bear market. If a bear market approaches and people start to sell (driving HEX price down), then the people who are staked will increase their returns due to early unstake penalties and the higher interest rate rewarded because fewer people are staked.
What if more people start to stak1qaze? This would lead to a lower return in coins for those staking, but a higher price for HEX on exchanges. The opposite is also true; the fewer people staked the lower the HEX price, but the higher return on coins for stakers. This behavior lends itself to a potential safe-haven status for HEX.
During the first year of launch, HEX builds towards a Big Pay Day. This day (Day 353) is when stakers will receive many large bonuses applied to their stakes. With 250 days until the big day, the bonuses alone already have a current value of $80 million USD.
The market cap of HEX is currently $54 million USD, with trade volumes between 50 thousand and 400 thousand dollars per day. As it stands, HEX has the 75th highest market cap of any cryptocurrency according to CoinPaprika, moving up nearly 100 spots within a month. Richard Heart, and the community of Hex at large, sees this trend leading Hex to a top 50, 25, and eventually top 10 market cap within the first few years of launch.
Richard Heart Continues to Expand the HEX Adoption Worldwide
In his recent interview with Coinpress Media, Richard discussed the challenges of mass adoption for HEX. With new markets constantly opening, it's up to Richard and the early HEX adopters to push for greater onboarding of users. His efforts have been rewarded. HEX is now listed on 8 Chinese Exchanges in the last 7 days, including: ZG, Folgory, XT, Abit, P2PB2B, Catex, and LBank.Hotbit will follow, listing HEX on April 1st at 18:00 UTC +8.
HEX will also be listed on 3 European exchanges within the next couple of weeks. In addition to adding many new exchanges, HEX now also provides itsGo.HEX.Win in Chinese, French, German, Italian, Polish, Swedish, and Slovenian translations, with more languages to follow.
The future is clearly bright for this at-once controversial project. Richard Heart is confident in the theory and application of HEX; a coin that outperformed almost every single asset since the beginning of the COVID-19 pandemic. Although early reports are overwhelmingly positive, the next challenge is mass adoption. In his own words:
"Technology is fun to talk about, but without mass adoption and people buying up something with economic value; there is no purpose. On the other hand, Bitcoin is not private enough, it's not used to pay taxes, and it can't be used by peers as internet cash. HEX is an answer for both Bitcoin and Ethereum holders as it offers continuous gains for anyone who owns Bitcoin and for anyone who wishes to convert their ETH into HEX."