HEX token has launched an advertising blitz in the UK, plastering ads on London public transportation, in newspapers, and has risen 11,500% in four months that appeared at English Premier League soccer games.
On July 26, Twitter user Metallic Elmo reported, scrolling text appeared behind players at the series of soccer matches, the ads stated, directing viewers to visit the ERC-20 token’s website:
“HEX price went up 11,500% in 129 days.”
However, four months ago (March 19), according to the crypto analytics site CoinMarketCap, the altcoin was priced at $0.0000359 compared to $0.004394 on July 26, an increase of 12,139%.
It has been analyzed that the user hexhivist posted a photo of the same phrase on a HEX advertisement on the side of one of London’s famous red double-decker buses, as this ad stated that the token was a “high-interest blockchain time deposit.”
The official HEX twitter account posted pictures of wrapped taxi ads, and HEX has taken out newspaper ads too.
As per the report, some on social media compare HEX to the notorious Ponzi scheme Bitconnect.
The HEX community is well aware of the token’s poor reputation, with user u/Odins_kin posting: ‘Can’t shake the HEX scam fud’:
“Recently asked a family member in London to pick up one of the HEX adds in the newspaper. He got back to me saying it was a scam after he googled it. In other words, new potential onboarders are seeing scam right from the get go. This is going to kill HEX unless something is done.”
Before February, the value of HEX was so small, many crypto sites simply couldn’t measure it. However, the token now has a market capitalization of more than $1.5 billion according to CoinMarketCap, an increase of $500 million in two months.
Currently, the token is near its all-time high, priced at $0.0057 and ranked #201 by CoinMarketCap.
The number of exchanges offering trading on HEX has doubled from 9 to 18 since May.