HEX has seen a significant price increase since Richard Heart, the founder of HEX dropped his lawsuit against SEC. This asset has risen 18.7% on the daily charts and 22.7% on the weekly charts. It is also up 8.8% over 14 days, as well as 109.4% in comparison to the month before, along with 45% in relation to May 2024.
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Cryptocurrencies Surge Amid US-UK Trade Deal
HEX has been experiencing a resurgence in the market. It is no coincidence that the asset has seen a surge in price after President Trump announced a US-UK new trade agreement. Stocks also rose today.
HEX rallies coincide with Bitcoin (BTC’s) recent rally up to $103,000. In the last 24-hours, global crypto-market cap rose 3.7% to $3.39 trillion.
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HEX may also have benefited from other bullish developments. Recently, the Office of the Comptroller of the Currency announced that it would be implementing a new currency management system. said Banks regulated by the FSA could offer services such as custody, buying, selling, and trading cryptocurrencies. Investor confidence may have increased as a result of the move.
The Federal Reserve could also cut interest rates very soon. If rates drop, investors may be more willing to take risks because borrowing is easier. In such conditions, there could be a boom in the cryptocurrency market.
Will HEX Reach a New All Time High?
HEX’s current price is down more than 99% compared to its previous high, which was $0.5108. The asset peaked in September 2021. This was during one of most important bull markets on the cryptocurrency market. Heart’s asset price suffered a major drop after the SEC accused it of fraud. Since the SEC dropped it’s lawsuit, Bitcoin has experienced a huge rebound.
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If the crypto-market continues to rise, HEX might regain some traction. The asset’s potential to reach a record-breaking high remains undetermined. After the SEC filed a lawsuit, investors distanced themselves. Investors may flock back to HEX now that the SEC’s lawsuit has been dismissed. The project could see a surge of interest, leading to HEX reclaiming the previous high. The exact moment that this happens is not yet known.
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Source: watcher.guru
