Uniswap Removes HEX After SEC Lawsuit; HEX Plummets Over 40%

In the past two weeks, the HEX to USD exchange rate has dropped over 40%, with a 2% decrease as of August 2, 2023. The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Richard Schueler (also known as Richard Heart), the creator of the Hex blockchain, and his companies Pulsechain and Pulsex.

HEX/USDT as of August 2, 2023.

The SEC accuses Heart of providing and selling unregistered cryptocurrency tokens and deceiving investors by misappropriating funds. Two days after the lawsuit was filed by the SEC, Uniswap, the largest decentralized exchange (DEX), delisted HEX from its interface.

According to statistics, there is a circulating supply of 173,411,074,413 HEX based on the ERC20 standard, with a total supply of 581,233,513,031 HEX. Approximately 60.89% of the circulating supply is held by the top 10 wallets among the 330,072 unique Ethereum addresses holding HEX.

PLS/USDT as of August 2, 2023.

The top 100 addresses hold 63.15% of the supply. In centralized exchanges listing HEX, the token's 24-hour global trading volume has reached $5,183,908, including exchanges such as Mexc, Bitget, Poloniex, Bitrue, and Yobit, according to coingecko.com statistics.

On the other hand, the native asset of Pulsechain, PLS, rose by 25% in the past day but experienced a 42.3% decrease in the HEX to USD exchange rate over the past 7 days. PLS has dropped by 46.9% in the past two weeks. Within the last 24 hours, PLS has had a global trading volume of approximately $2.1 million.

The Pulsechain blockchain explorer claims that the network has 70,752,114 unique addresses. Both HEX and PLS have been added to the so-called SEC Secured Cryptocurrency Token Market, with a value of approximately $84.9 billion as of August 2, including various tokens such as BNB, ADA, and SOL.