In recent time, the crypto market has been painting a mixed picture as Bitcoin, and other leading digital currencies such as Ethereum, Ripple (XRP), and Litecoin continue to oscillate within the latest ranges. For instance, the total market capitalization of all digital currencies in circulation appreciated marginally by about a billion US dollars to land at $324 billion from about $315 since Monday.
Over the past 48 hours, the cryptocurrency market has been witnessing a particularly volatile period of exchanging after the number one cryptocurrency asset; Bitcoin spread its wings above the 11,000-dollar mark only to tumble moments later and settle at the $9,000 mark.
As expected, a majority of the digital currency market was not affected by this volatility with leading assets quite stagnant over the past 24 hours. But the rising star HEX surge by a total of 21 percent over the 24 hours and 66 percent in the past 30 days.
The cryptocurrency market, as it stands, is a supreme mixture now. HEX is one of few currencies which does not depend on Bitcoin performance, HEX Surges big time while other Alt stays stagnant. Let’s find out how the Bitcoin, HEX, and Other Major Alt is playing currently.
At the time of writing, Bitcoin is hovering above 10,950 USD following the Monday evening plunge that sent tremors in the market. Bitcoin managed to break past its resistance level of 11,000 US dollars to even step above it for a while and reach a high of 11,200 US dollars.
Despite its impressive run, BTC’s move might have been too ambitious as it made way for bears to come in and push for revenge. At the moment, it is not yet clear whether it was the entrance of the bears or action of traders taking advantage of the situation to make profits by creating fresh demand for the coin at a lower price that destabilized Bitcoin.
As usual, Richard Heart’s HEX is against other Alts where the HEX is not affected by the rise of Bitcoin this time while other Alts tend to stagnate and go down in its BTC pairs.
The 25th biggest cryptocurrency in the world is up by a whopping 20.31% over the previous 24 hours and 61% over the previous 30days as we write this post. HEX price surged significantly as the arrival of new stakers and holders which is keep coming.
In addition, the existing HEX promos everywhere also make HEX better known to many people, which causes new holders and stakers to arrive. In the previous episode of Unstoppable HEX, it was reported that HEX had penetrated promotions on new fields for cryptocurrency such as newspapers, football matches, public places, and now found again HEX had even been promoted on public vehicles such as this taxies that spotted on London, England.
Even though, Richard still feels that there are still many parties who are blind to the great things that HEX does. In this tweet the CEO of HEX he said,
People get blinded by HEX’s marketing. Only the thoughtful notice the 2,000 TPS via zksync, optional anon via zksnarks (Less than 5 ERC20’s have these.) Powerful community sites (http://hex.live, http://hex.vision,etc) IRL ads all over London. 3 audits. 100% uptime.Richard Heart
Different from the HEX situation, the recent strength in the Bitcoin market can be juxtaposed to the relatively poor performance of altcoins. Data from Coinpaprika indicates that most altcoins are up against the dollar over the past 24 hours but down against Bitcoin.
Take XRP as an example: the fourth-largest cryptocurrency has gained 3.2% against the dollar in the past day, though is down 5.9% against Bitcoin. Or consider Chainlink, one of the crypto market’s hottest properties over recent months which is actually down 4.0% in the past 24 hours.
With Bitcoin breaking past crucial resistance levels identified by crypto analysts alike, altcoins may continue to underperform until BTC settles down.
What do you think of it? Why is HEX able to outperformed other altcoins when Bitcoin rages?
Join HEX’s chat community to know more about HEX and get closer to Richard Heart. He’s there with the community. Join here: https://t.me/HEXcrypto. Find updates about HEX on their telegram channel here: https://t.me/HEXnews.
More about HEX: