HEX saw a drastic jump today in the indices as it spiked close to 25% reaching new weekly highs. The crypto is displaying extreme bullish sentiments mirroring its phenomenal bull run of last year. For the uninitiated, HEX is arguably the only cryptocurrency that doubled in price 13 consecutive times. The ‘price doubling’ occurred approximately every 48-days between January 2020 to September 2021. The sudden double digits jump today brings back memories of its glory days, indicating that its bull run might have kick-started.
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However, another continuous bull run might not be on the cards anytime soon due to weak global economic cues. Inflation is at its 40-year high in the U.S and signs of a recession is on the cards. All this would lead to the market dipping again and could wipe away all profits generated up until this point. The crypto market has been on the backfoot for 6-months straight and showed no signs of rebounding.
Why Is HEX Crypto Shooting Up In Price?
HEX has a history of rebounding in double digits after it hits a new monthly bottom. The crypto usually rebounds dramatically in a similar fashion and has displayed double digits growth multiple times.
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Its trading volume saw a drastic jump of 57% during the weekend making its price to shoot up 25% today. Its 24-hours trading volume has now reached nearly $18 million with several investors buying in on the dip.
Early Monday today, its trading volume saw another jump of 50% with strong ‘buy’ signals making their way into the crypto. Whales picked up HEX during the weekend and are now reaping all its profits of a 25% jump in price.
In addition, the number of investors staking their HEX tokens has also increased leading the crypto to scale up in price.
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At press time, HEX was trading at $0.060588 and is up 23.3% in the 24-hours day trade. It is also up 108,560% from its all-time lows of $0.00005645, which it reached on January 5, 2020.