HEX hits almost zero-value and now many in the cryptocurrency community are considering the decision of Roger Ver to list the suspicious HEX token questionable. In our altcoin news today, we take a closer look at the price analysis.
This week, the crypto exchange company named Bitcoin.com that is the property of Roger Ver, known by the name nick ‘Bitcoin Jesus’, listed the very controversial HEX digital currency. However, HEX hits low levels shortly after. The act comes off the heels of a live stream that happened between Ver and HEX founder Richard Heart. As anticipated, Richard Heart attacked bitcoin utilizing the already well-known arguments about the lack of adoption and mining dominance.
HEX, for those who are not informed, is a project of Richard Heart, the project labels itself as a blockchain certificate of deposit. This technical term is already debunked by legal analysts and experts as misleading because deposits in Ethereum made to buy the cryptocurrency are not returned in Etherum.
Many described the project as a huge pyramid scheme made only for the lucrative aspirations of the owner, in other words, to make him wealthy. It looks like the bonus and referral schemes have been made to confuse the hypothesis that one wallet address will own about 50% of the supply after a year. The aforementioned ‘origin address’ is governed by Richard Heart, he has gathered Ethereum from buyers while give to them valueless HEX tokens promising them huge staking returns.
Also, there are some penalties for not staking or if there is a premature ending of the contract, where half of the penalty fees are going also to this ‘origin address’. There are reports that claimed that there are high chances for Richard Heart to accumulate over $100 million in Ethereum and that he will control 45% of all HEX after the first year. At this moment there is over 40k Ethereum in the ‘origin address’ according to the cryptocurrency analyst that made the report.
HEX prices have already fallen down which means that those who bought them on an opening day, in the first half of December, lost already their whole investment, according to Coingecko.com. Roger Ver, known Bitcoin Cash advocate, guarded his decision to list HEX after reports that he did it out of malice.
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