The price of the HEX token has skyrocketed in 2021, gaining approximately 3,400% since the year started after moving from $0.012 per coin to $0.42 as of 4 October 2021.
The project has succeeded in attracting crypto investors by offering blockchain-based certificates of deposits (CDs) and promising them substantial returns for locking up their HEX holdings for a period going from one to 5,555 days.
Are HEX returns sustainable and can its price continue to go up in the future? In the following article, we dig deeper into the project to predict the possible future price of HEX crypto.
What is a HEX coin?
HEX was launched in December 2019 by Richard Schueler – better known as Richard Heart. Heart is a serial entrepreneur, author, YouTube personality, philanthropist and the founder of the PulseChain network, for which he raised over $27m for medical research.
According to HEX’s official website, the project is designed to become the first certificate of deposit (CD) in the cryptocurrency world. In traditional banking, a CD is a product that yields a return slightly higher than the average savings account for the customer after the customer agrees to lock up the invested funds for a fixed period.
A HEX CD works in the same way as in traditional banking since it pays a return to investors who decide to lock up their HEX holdings for a set period of one day to several years.
HEX claims to follow a proof-of-wait (PoW) protocol that does not require the participation of…