HEX token surges 11%; defies collective market crash

Vinod Dsouza
HEX crypto spikes while the market dips
Source: Pexels

The cryptocurrency market is facing a blood bath as Bitcoin slumped yesterday dragging the entire market down along with it. Only a handful of tokens traded in green and generated profits to its investors. HEX is one of the cryptos that defied the market and spiked double digits chalking out a path of its own.

The asset is up +10.63% today while the whole market is bleeding red. The second highest crypto trading in green is ATOM which is up +6.16% in the day’s trade.

Richard Heart’s HEX stayed true to its name of the ‘shining city on the hill’ by going the opposite direction of the market. This isn’t the first time that HEX defied market sentiments, the crypto has done it innumerable times. Also, since the last 30-trading days, the crypto is up +65.7% and is generating investors good profits. However, it is also important to note that the asset was down by 25% last week.

Analysts have speculated that it will breach the $1 mark faster than Dogecoin as it pays investors to stake their holdings. It breached 1 Cent in February 2021 and touched 51 Cents in September. However, it is doubling in price came to a halt in October 2021 after its touched an all-time high of $0.51.

The asset has created generated massive profits for its early investors and is among the hottest token in the market. It achieved all this despite not being listed by top exchanges around the world. Only recently, Poloniex listed it in November 2021 and Coinbase Wallet listed it indirectly on their platform for trading.

The detailed step-by-step guide on how to purchase HEX on Coinbase Wallet is here for a better understanding. However, only people residing in the U.S can purchase HEX through the Coinbase Wallet.

Whales Have Started Buying HEX

After the asset touched an all-time high of $0.51, whales began selling the crypto and in return, its price plummeted. Nonetheless, whale activity is seeing a comeback in the crypto as a whale just purchased 1.2 million HEX worth $288,672. Another whale picked up 1.3 million HEX worth $300,000 today.

The strong ‘buys’ are adding to the asset’s strength and making it sustain in price despite the crypto market crash. At the time of publishing, HEX was trading at $0.23 and is up +10.1% in the day’s trade.