HEX cryptocurrency is at present experiencing a massacre regardless of the broader digital asset market having fun with a bull run. The cryptocurrency is down double digits on Wednesday seeing an enormous decline in value of 36%. The crash is inflicting holders immense misery as a fast restoration won’t be on the playing cards quickly.
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The HEX token is dangerously down 99.4% from its all-time excessive of $0.51, which it reached in September 2021. Climbing above its ATH within the coming days is a herculean process contemplating the emotions in opposition to the cryptocurrency.
HEX: Why Is The Cryptocurrency Crashing?
So what occurred to HEX and why is the cryptocurrency crashing within the charts this week? Coingecko reported that its founder Richard Coronary heart expressed dissatisfaction about HEX being run on the Ethereum community. For the uninitiated, HEX is an ERC-20 token constructed on the Ethereum community designed as a Certificates of Deposit serving as a retailer of worth.
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The chart exhibits a heavy decline from March 10, falling from a excessive of $0.01 to a low of $0.002. The buying and selling quantity has additionally declined to a low of $3.3 million, which is beneath common within the cryptocurrency market.
“HEX plummeted by over 50% days after its founder, Richard Coronary heart, expressed his dissatisfaction with HEX on the Ethereum community,” wrote Coingecko.
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Since then, the cryptocurrency has been on a downward spiral with each widespread traders and whales leaping ship. Traders who’re holding on to the token throughout this downward trajectory are taking a heavy beating. Their portfolio turned purple and a restoration or break even may take longer than anticipated.
At press time, HEX was buying and selling at $0.002 and is down practically 36% within the 24-hours day commerce. The cryptocurrency can be massively down near 99.5% from its all-time excessive of $0.51, which it reached in September 2021.