The Hex token now has a market cap of over $980 million. Prior to mid-February, the price of the coin was so small that it couldn’t be measured.
HEX is actually an ERC-20 token that pays holders for rewards instead of miners, essentially a crypto version of a traditional fixed deposit account.
Hexers on crypto Twitter pointed out that whales have staked a lot in HEX, and because of the way token’s rewards benefits the people staking, not the miners.
The HEX founder, Richard Heart, wrote on Twitter that HEX reached an all-time high price on May 14 and is looking at a $1.1 billion market cap by the end of 2020.
He went on to say that for those concerned with the current financial crisis, the token has ”basically less than 0% inflation.”