Mike Alfred, an investor, criticises HEX as it drops below $0.04

October 14, 2022

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Mike Alfred, an investor, criticises HEX as it drops below $0.04. Prominent investor Mike Alfred recently criticized Hex for the mining token falling below $0.04. The bulls pushed the price above this level to $0.042. However, HEX has lost 85% of its value since the beginning of the year and is down 92% from its all-time high of $0.51, reached on September 19, 2021. Thus, the issue of trust in HEX as a reliable and legitimate cryptocurrency project is once again in the spotlight. Launched by founder Richard Hart in December 2019, Hex bills itself as the first proof-of-deposit blockchain token.

Investors get interest on the full investment for a certain lock-up time, much like with Fixed Deposit Certificates. The investor will get the whole amount borrowed plus interest at the conclusion of the lock-in term. Users trade their HEX tokens for a portion of newly issued tokens (or inflation). Lock-in times range from one day to five thousand five hundred fifty five days (15 years), with longer times yielding larger APY payouts. According to the website, the average APY is close to 40%, which is much more than Ethereum or Cardano’s current payouts of 4% each. Users are encouraged by HEX mechanics to select a longer lock-up duration and top off past-due deposits. In other words, enticing people to take money out of the system by promising them rewards. Hex has a “real car”, which represents the role of “I”, which gives an acceptable warning of the sale of shares that collect information about future goals and imposes fines “their break”.

This work has five large red flags, which is the main hexagonal address, which against hexagon. Hex explains why this is not a fraud and Edh from ICO until mint. Regarding Price’s recent actions, Alfred criticized the reward system, saying it only creates “very useless curses”. To be recognized as “poor and stupid people” breaks the heart.

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