Home cryptocurrency news Etherhub Co-Founder Raise Concerns Over HEX Token Nearing $1 Billion Market Cap

Etherhub Co-Founder Raise Concerns Over HEX Token Nearing $1 Billion Market Cap

  • Anthony Sassano, co-founder of Etherhub brought to attention about HEX token nearing its market cap of $1 billion.
  • Sassano threw light on the rise in the price of this token, its price has reportedly increased tenfold over the last two weeks.
  • HEX, launched by Richard Heart last year is an ERC20 token relying on the Ethereum network. Since its establishment, controversies have remained common for this token.
  • Richard Heart continues facing criticism for his claim that the token will perform over 10,000x returns within 2.5 years. 

Anthony Sassano, co-founder of Etherhub brought to attention about HEX, calling it scam token nearing its market cap of $1 billion. Further asking if that very fact was just being ignored. In addition to Sassano having founded the Etherhub, he is the product marketing manager at SetProtocol. 

Sassano threw light on the rise in the price of this scam token. Its price has increased tenfold over the last two weeks. He further reasoned out this increase in price tweeting that is due to excessive wash trading on the uni swap exchange. Along with a $2.5 million of 24h volume. However, he also highlighted its annualized returns standing at -98.9 percent for LPs.

These facts Sassano has notified about must not be neglected, though this is just anthony’s perspective regarding the token while it is performing well in the market.

Particulars about the Richard Heart’s HEX token

HEX, launched by Richard Heart last year is an ERC20 token relying on the Ethereum network. The token claims itself as a Certificate of Deposit on the blockchain network. Additionally, its design is to ascend the Defi (Decentralised Finance) ecosystem in cryptocurrencies within the Ethereum network. 

Richard Heart continues facing criticism for his claim that the token will be able to perform over 10,000x returns within 2.5 years. Since its establishment, controversies have remained common for this token.  

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Umme Haani
Umme Haani is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.

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