HEX is currently going through a brutal bloodbath despite a positive market for digital assets. A massive 36% drop in the price has sent HEX cryptocurrency into double digits. This crash has caused holders to be extremely distressed, since a rapid recovery is not likely.
You may also like: Cryptocurrency: 3 Coins Trading in Cents Set To Reach $1
The HEX token is 99.4% below its high-water mark of $0.51 that it achieved in September 20,21. The cryptocurrency’s sentiments make it a challenge to reach its ATH within the next couple of days.
HEX: What is the cause of cryptocurrency crash?
What is happening to HEX, and why has the crypto currency crashed in the charts? Coingecko has reported that Richard Heart, the founder of HEX cryptocurrency is dead. expressed dissatisfaction HEX running on the Ethereum Network. For those who are not familiar with HEX, it is an ERC-20 Token built on the Ethereum Network designed to serve as a Store of Value.
You may also like: Shiba Inu Team Comments About Burning 1 Trillion SHIB Tokens
Chart shows that the chart has been in a steep decline since March 10. It went from $0.01 at its highest to $0.002 at its lowest. Trading volume also dropped to $3.3 million which is well below the average for cryptocurrency markets.
“HEX plummeted by over 50% days after its founder, Richard Heart, expressed his dissatisfaction with HEX on the Ethereum network,” Writer Coingecko.
You may also like: BRICS: Analyst Predicts What Can Destroy The U.S. Dollar
The crypto market is on a down spiral since then. Both whales and regular investors have abandoned the coin. The token is losing value for investors who hold on during the downward trend. The portfolio has turned red, and recovery from this or even breaking even may take longer than anticipated.
HEX is currently trading for $0.002, and has fallen by nearly 36% since the beginning of this 24-hour period. The currency is also down massively close to 99.5% compared to its previous high of $0.51 which was reached in September 2020.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: watcher.guru
