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by Stefania Stimolo – February 20, 2023
HEX price outperformed Binance’s crypto with a +255% increase since the beginning of the year compared to BNB’s 35%.
Despite Binance.US succeeding in dismissing a class action lawsuit brought by HEX holder Ryan Cox, the community is overestimating the 201st crypto by market capitalization.
Summary
Looking at CoinMarketCap’s charts, the 201st crypto by market capitalization is experiencing an attractive growth by HEX, leaving behind its “in-law rival” Binance Coin (BNB).
And in fact, from a price perspective, HEX has made bigger gains than BNB on the daily, weekly and monthly time frames. What’s more, since the beginning of the year, HEX has experienced a massive increase of around 255%, while Binance’s BNB token is up only 35.56% during the same period.
In the past one month, HEX has increased from the price of $0.025 to the current $0.062. BNB has also followed the bullish trend, although its price has dropped from $307 to just $316 in the past 30 days.
Not only that, the community spirit associated with HEX has also improved recently. Social media posts about crypto grew by nearly 74% in one week, totaling over 19,200.
Technical data from TradingView has shown that this cryptocurrency remains an attractive “buy” as HEX is down 88.20% from its all-time high, with long-term investors looking to enter the market.
The correlation between the two crypto assets is not coincidental. It has come to light recently Class action brought by HEX holder Ryan Cox against Binance.US may not have jurisdiction in Arizona and so was fired,
In short, the Binance.US crypto-exchange and two affiliated companies cannot be sued in Arizona, according to a federal court ruling Allegedly suppressing the rating of a competing token.
Judge Susan M. Brnovich in the US District Court for the District of Arizona said on February 10 that the class action had been dismissed.
case was filed alleging HEX was not properly listed on coinmarketcap.comWebsite acquired by Binance.
In addition, the lawsuit reports that a “Buy” button found next to each cryptocurrency listed on CoinMarketCap.com will direct users to Blockchain.
In this case, while Binance and Binance.US reportedly make money through transaction fees when cryptocurrencies are traded on their platforms, HEX cannot be bought on either exchange.
In a recent investigative report, it was revealed that the most popular crypto-exchange was allegedly Included in a series of transactions in 2021, initiated by Binance.US, that amounted to over $400 million,
the transactions were allegedly Binance CEO Changpeng directed trading companies affiliated with CZ Zhao.
Corporate messages suggest that no one was aware of these transfers and that the destination company, Merit Peak, was a vendor that facilitated trading on Binance.US.
The lack of clarity about the merit peak and continued investigation revealed that some of this money was also sent to a company called Key Vision Development Limited, of which CZ is the CEO.
A graduate in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a sales assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the network marketing field, where she discovered bitcoin and the ideals behind blockchain technology. And became passionate about those who lead. For her to work as a copywriter and translator for ICO projects and blogs, and to conduct introductory courses.
Marco Cavicchioli – March 22, 2023
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