Memories of Bitcoin-Beating Returns Keep Hex Holders Hanging On – Bloomberg

The more than 100,000 devotees to a little-known token called Hex swapping jokes and encouraging each other to stay bullish over the Telegram messaging app shows the desire to get rich quick remains as strong as ever in the midst of the latest crypto winter.

Even though the coin is among the thousands that trade at just a few cents, it has developed an outsized profile. Hex’s creator, who goes by Richard Heart, has positioned himself at the center of the hype, projecting an over-the-top presence on social media with his designer track suits, expensive jewelry and luxury vehicles. While Heart projects endless optimism amid aggressive marketing, which includes old-fashioned direct-mail promotions, the value of the token has tumbled more than 90% from its all-time high in September.

But what really stands out is how Hex dangles a roadmap to great wealth for so-called Hexicans. Hex is an app on the Ethereum network that offers a staple of traditional investing packaged in a crypto…

Read Full Story: https://www.bloomberg.com/news/articles/2022-06-18/memories-of-bitcoin-beating-returns-keep-hex-holders-hanging-on

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