MAJOR SHAKEUPS ACROSS THE HEX ECOSYSTEM

February 13 2023 Written by AXiS ALiVE

HEX HOLDING VALUE AGAINST BLUE CHIPS

HEX is holding up well against the "Blue Chip" cryptocurrencies. You can see in the chart below how HEX valuation has broken out against both Bitcoin and Ethereum. This is very good news and this strengthens the argument that HEX is de-correlating away from the rest of the cryptocurrency market. One factor that reinforces that fact is the removal of the HEX liquidity from the HEX/HEDRON Pair as you will see in the next segment.

See this 30 Day correlations matrix? This matrix shows that HEX price did the same thing as Bitcoin 23% of the time over the past thirty days. HEX did the same thing as Ethereum 28% of the time in the same timeframe.

In the case of HEDRON it has been positively correlated to HEX 35% of the time over the past thirty days. It will be interesting to see how this relationship changes between HEX and HEDRON now that the OA Liquidity has been removed, or if it will have any effect at all.

The Confidence Interval represents the interval in which the true Pearson correlation coefficient will be located with 95% probability. If the confidence interval includes the value of zero (it crosses the dashed line), the correlation can be regarded as non-significant (not different from 0).

In the case of HEX, it has had a statistically significant but loose correlation to the rest of the market by being positively correlated to the price action of Bitcoin and Ethereum ~25% of the time. That means that over the past 30 days, HEX is marching to the beat of its own drum 75% of the time.

OA WALL GOES DOWN ON HEX/HDRN PAIR

The Origin Address has pulled a massive amount of HEX liquidity from the HEDRON pair.

Approximately 52 million HEX was removed from the circulating supply and now 180 billion HEDRON (~$403,000) is sitting in front of the price. This wall of HEDRON supply may entice HEX holders to sell HEX for the HEDRON at which point I anticipate the Liquidity Provider (LP) will pull that HEX and remove it from the supply.

180 billion HEDRON = 8.85 million HEX at the time of writing.

From a technical analysis point of view, HEDRON printed a head and shoulders and is now in a descending triangle. A Descending Triangle is a bearish pattern. ICOSA is in free fall.

I thought that the OA Wall would give HEX users an opportunity to flip HEX into HEDRON with low slippage. As HEX price rose you would be able to get more HEDRON for your HEX. This would entice HEX Sharks and Dolphins to swap HEX for HEDRON without incurring slippage.

Having more liquidity tying the HEX and HEDRON pairs together, created a stronger bond. As HEX appreciated in USD, HDRN would appreciate alongside it due to the binding effect of the thickness in the pair. Even if volume stayed low, HEDRON could have more easily rode along during the pumps. The Volume just hasn't been there on the pair and this, coupled with a potential v3 announcement, leads many people to believe the OA is protecting HEX by removing the dead weight.

Now that the OA Wall has been pulled, HEX sharks and dolphs will incur price slips against their buys and move HEDRON around more independently as far as ratio trading goes. Ultimately, the natural effect of them appreciating in price because so much liquidity bonded them together, has now been reduced.

From a narrative Point of view, it shows that support for HEDRON has been withdrawn by the OA and may negatively effect HEDRON and ICOSA price in the short term on sentiment alone.

MAXI HOLDER DUMPS PRICE TO DISCOUNT

A large player who held the MAXIMUS DAO token dumped the MAXI price into a discount for the first time since the token launched in May of 2022. He then moved that economic energy and swapped it for 47 billion HEDRON. Crazy times in HEXico.

2.2 Million MAXI (337 T-shares) for 47.1 Billion HDRN causing MAXI to drop 35% below its backing value. The price has since recovered nicely back into a 19% premium against HEX. Congratulations to anyone who had resting orders down there! What a trade!!

GLOBAL HEX STATISTICS

Approximately 10% of the entire circulating supply of HEX is locked up for a USD value of $3 billion. It is rumored and can be verified by further chain analysis that the user-owned supply of HEX does not exceed 15% of all circulating supply. This means that stakers make up approximately 66% of all user-owned supply. This is bullish for price because every time HEX price makes a rapid increase in value, less and less user owned HEX can be sold at market to bring HEX price back down.

In addition, the staker class is rapidly approaching 120,000 staked wallets for an average of 6.5 years. This means that HEX users are re-staking their coins on a regular basis as outlined by ChrispyMan2 on his latest YouTube video.

HEX IS BACKED BY BIG BELIEVERS

Both Richard Heart and The Real God Whale have both stated publicly that they believe HEX is poised for multi dollar price targets. God Whale has even gone as far to say that he believes one HEX may reach a value higher than one Bitcoin.

Both of these actors have proven to be beneficial actors in the ecosystem from both a financial and marketing perspective. The God Whale's massive End Stake is coming due tomorrow February 14th. This wallet never sells but acts as positive buy pressure on the price chart and stakes HEX to ratchet up the T-Share Rate. I detailed the compounding effect of this ratcheting in my most recent blog post here.

God Whale printed $1.3 Million in interest in the past 43 days. Anyone who knows his wallets understands that he is sitting on over $100 million of assets that don't even include his HEX bags. This guy is going to push price and push the share rate up simultaneously to create the most epic squeeze on the weak handed HEX holders.

DON'T GET LET BEHIND

I made this Twitter Post back on January 4th to remind everyone of what was to come for HEX in the following years. I worry about all the people that are getting left behind on a once in a lifetime opportunity to buy something for pennies that is worth many dollars.

If you measure the distance of the first ever 97%+ drop from the launch price to the bottom, and project that out over an equidistant amount of time into the future, the picture becomes very clear.

HEX will make an ascent back to all time highs in record time and these prices below a nickel will be gone forever. The next wave of buyers will have to accumulate their bags at much higher prices and that will create a support floor that will launch HEX into the next bull run in 2024 and 2025.

Best of Luck to you and all your accumulations throughout 2023!

-AXiS ALiVE