Did HEX pop up on your radar again?
Its been 130 days since our last update and almost everything has changed. From the obvious global situation, its effects on traditional and crypto markets to whatever the HEX community has been doing to push growth for all holders.
HEX has drawn our attention again by its recent 5-day rally, with volume building from 400K to around 4.4MM USD daily. Over 95% of the trading volume is on Uniswap [1]. Today's pullback correlates with a rise in Bitcoin/Ethereum.
We had a few short stakes in HEX which recently came to expiry, netting us a pittance in interest. We also had one that was forgotten and closed about a month late, erasing the gains and a getting slightly into the principal. HEX is working just as intended. Its important to remember your end dates.
At this point it appears holding liquid HEX may be preferable than short stakes due to high volatility and swapping in/out. Also avoids slippage in the AA. At times of low volatility, the AA is probably still best for getting in.
An unexpected strength of community has lead to a few developments which may have been critical to HEX's recent success:
- An actual working white-labelled DEX - Uniswap
- Internationalization of marketing, and onboarding on non-english regions (China, Russia)
Contrarian perspective
Is the recent pump just whale(s) looking for place to stash proceeds from other activities (possibly from chinese ponzis?)
HEX might be the best place to anonymize and stash crypto value. Staked coins are arguably destroyed, thereby even more difficult to track and attribute ownership to open stakes.
It seems that with continued organic growth and adoption of HEX, the owner's stake becomes equally more powerful, providing more opportunity to do things like: manipulate liquidity (volumes), recycle funds into the AA, etc. that many feared.
Either way, the same warnings as with any crypto apply, and you are responsible for your own decisions.
