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- 1 HEX is an Ethereum-based token designed to replace traditional Certificate of Deposits as a blockchain-based store of value.
- 2 HEX is a blockchain-based digital Certificate of Deposit created and launched by Richard Heart on December 02, 2019.
HEX is an ERC20 token launched on the Ethereum network. HEX is designed to be a store of value to replace the Certificate of Deposit as the blockchain counterpart of that financial product used in traditional financial markets. HEX is also designed to leverage the emerging DeFi (Decentralised Finance) ecosystem in cryptocurrencies within the Ethereum network.
HEX uses the Ethereum network for the transaction layer (sending and receiving HEX tokens and interacting with the HEX smart contract). At the same time, the consensus code and staking mechanism are contained in the HEX smart contract.
HEX allows users to stake their HEX coins for a share of the new HEX coin issuance or inflation. It contains features designed to incentivize behaviors that encourage price appreciation and disincentivize behaviors that promote harm to the price. The HEX smart contract penalizes stakers for ending their stake early and rewards them for staking larger amounts of HEX for longer periods.
Founders of Hex Crypto
HEX was created by Richard Heart, a well-known figure in the cryptocurrency community. Heart is a serial entrepreneur, author, and self-proclaimed “Bitcoin maximalist” who has been involved in the cryptocurrency industry since its early days.
Use Of HEX Crypto
HEX is primarily used as a high-yield savings account where users can earn interest on their holdings by staking their tokens for a set period. The longer a user stakes his tokens, the higher the interest rate they can earn. HEX is also traded on various cryptocurrency exchanges, where users can buy and sell the token for other cryptocurrencies or fiat currencies. However, it’s important to note that investing in HEX or any other cryptocurrency carries significant risks, and users should always conduct their own research and due diligence before investing.
Price Overview and Price History of HEX
Today’s live HEX price is $0.010389, with a 24-hour trading volume of $1,680,038. HEX is up 1.50% in the last 24 hours. The current live market cap is $1,801,510,534. It has a circulating supply of 173,411,074,413 HEX coins, and the max. Supply is not available.
The highest price paid for crypto is $0.5108, registered on September 19, 2021 (over 2 years). Comparatively, the current price is 97.97% lower than the all-time high price.
The lowest price paid for crypto is $0.00005645, registered on January 05, 2020, about 4 years ago. Comparatively, the current price is 18,282.78% higher than the all-time low price.
The crypto asset’s fully diluted valuation (FDV) is $6,114,088,618. It is a statistical representation of the maximum market cap, assuming the maximum number of 590 Billion HEX tokens are in circulation today. Depending on how the emission schedule of HEX tokens is designed, it might take multiple years before FDV is realized.
Conclusion
HEX is a type of cryptocurrency that was launched on the Ethereum network via the ERC20 token standard. Its purpose is to serve as a store of value, similar to a Certificate of Deposit used in traditional financial markets. The goal is to provide a blockchain-based alternative to this financial product. Currently, the highest price for HEX is $0.5108, while the lowest is $0.00005645.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
