Understanding The Cryptocurrency World : Deep Dive Into HEX COIN

Understanding the Hex Coin Market Cap: A Deep Dive

The world of cryptocurrencies is filled with excitement, innovation, and potential for impressive gains. One specific cryptocurrency that has been making waves recently is the Hex coin. However, despite its high market cap and promising performance, it has found itself at the center of controversy and intrigue.

1. What is Hex Coin?

Hex coin is a blockchain-based platform that offers high-interest rates through a system called staking. This unique crypto asset was created by Richard Heart and launched in December 2019.

  • A Brief Introduction: The core idea behind Hex coin is to reward holders who keep their coins rather than trading them.
  • Unique Selling Point: The project promotes itself as the first blockchain CD (Certificate of Deposit).
  • Market Performance: Despite being relatively new to the crypto space, Hex has exhibited strong market performance.

2. Tracing Highs and Lows: An Overview of the Hex Market Cap

A peak into Hex’s market cap journey reveals multiple highs and lows:

  • Peak Performance: On May 20, Hex hit an all-time high with a market cap of $6.62 billion.
  • Dramatic Fall: Following this peak period, approximately $4 billion was wiped from its market cap within a week.
  • Current Status: At present, its market cap stands at around $4.31 billion with a circulating supply of 173.4 billion HEX coins.

3. Unraveling Controversies: The CoinMarketCap Debate

Hex’s low ranking on CoinMarketCap despite having such a high market cap has raised eyebrows:

  • Criteria Conflict: Per CoinMarketCap.com’s criteria for breaking into the top 200 cryptocurrencies list, it appears that Hex doesn’t meet these requirements.
  • Positioning Problem: According to some calculations involving circulating supply numbers, many believe that HEX should occupy spot #3 instead of #201 on CoinMarketCap’s rankings.

4. Demystifying Market Cap Calculations

Understanding how cryptocurrency market caps are calculated can help demystify why certain coins rank higher or lower than expected:

  • Basic Calculation: The simplest way to calculate any coin’s market cap is by multiplying its current price by its total circulating supply.

However, it’s important to note that different platforms may have slightly different ways on calculating this figure.

##5. Learning from Past Performance: Historical Data for Context

Looking at historical data can provide some context about how HEX has performed over time:

Maximum Price Achievement: On September 19th, 2021 HEX reached an all-time high price of $0.483402 per coin. Performance Since ATH: Since reaching this peak point HEX dropped to a low level price point of $0.006990 but since then it has recovered by approximately 39%.

##6.The Potential Ahead: Evaluating Future Prospects

While past performance can be indicative in some cases but evaluating future prospects requires consideration multiple factors including but not limited to technology strength ,community support , use case viability etc .

HEX Price Statistics as Of Now

Current price: $0 .025 **Circulating Supply:**173 ,411 ,074 ,413 **Total Supply:**633 ,542 ,658 ,973 Daily Trading Volume:$3 ,619 ,185

As we delve deeper into understanding specific cryptocurrencies like HEX coin,it becomes evident just how dynamic and multi-faceted the world of digital currencies truly is.