Flush Funds Move
Its confirmed now that both the origin address (HEX) and the flush address (ETH) are actively controlled and not burn addresses.
- HEX holdings are being distributed to new ETH addressess and staked for periods ranging from 1-10 years.
- ETH holdings remained steady until yesterday when 95 ETH was transferred to a new intermediary and then to a known Binance account [1]
One could speculate what the ETH transfer was for (promotions, exchange listing, marketing, and so on). But actually its irrelevant, since it was never intended to benefit anyone other than the those private key holders. Anyone in the HEX game should know this and not be surprised. However, out of the current total of over 39K ETH, it does seem like a purposeful amount.
AA Market Update
The decline of the ETH:HEX price has levelled off and HEX had its first window breaking the decline. This could commence a period of consolidation around 1,000 ETH per day.
| Window | Total HEX (MM) | Total ETH | ETH/HEX |
|---|---|---|---|
| 11/351 | 512.323 | 995.466 | 0.000001943 |
| 10/351 | 512.34 | 957.994 | 0.000001870 |
| 9/351 | 512.392 | 871.919 | 0.000001702 |
| 8/351 | 512.405 | 1015 | 0.000001981 |
| 7/351 | 512.453 | 1322 | 0.000002580 |
| 6/351 | 512.537 | 1146 | 0.000002236 |
| 5/351 | 512.584 | 1314 | 0.000002563 |
| 4/351 | 512.688 | 1946 | 0.000003796 |
| 3/351 | 512.967 | 2516 | 0.000004905 |
| 2/351 | 513.319 | 6152 | 0.000011985 |
| 1/351 | 1000 | 21015 | 0.000021015 |
Serviceable Exchanges
Aside from flaky DEX exchanges (Etherdelta, Forkdelta, McAfee), the main exchange serving HEX trades is Bidesk. In our attempts to use a DEX offering, it appears there is still a long way to go in terms of UX and volume/adoption. The web frontends appeared far too unreliable to warrant risking any gains. We also are not confident in Bidesk, basically coming out of nowhere in September, but having no other alternative than OTC on telegram, it is sufficient.
The hourly chart shows resistance at 2330 gwei and support at 1100 gwei and has been in this range for almost a week now. There are still opportunities to use the AA -> Market -> AA rebuy strategy.
In the mean time we will continue to be interested in HEX as long as the promotion, drama and hype remain strong and it stays at least on the ETH trading pair.
Disclaimer: Anyone sending ETH to this contract is doing so at their own risk. Anyone spending ETH on transaction fees to claim is doing so at their own risk. If you found these posts interesting, please upvote and use the links below.
