For those of you following the Hex saga, starring founder, Richard Heart, I firmly believe that the result of this will be a much more valuable BTC.
Here's why:
Hex has massively increased in value and has been adopted by many crypto enthusiasts due to its highly interesting financial design. Richard, a former BTC maximalist, designed the concept of the project and led its development. He has since abandoned his maximalism, favoring a combination of ETH and Hex, which is a token on the Ethereum network. His arguments for his project and for the design of Ethereum over Bitcoin are sound, however, I believe that Hex's rise will cause BTC's market cap to rise, not drop.
Hex, which is at time of writing, a top ten crypto, is still very much under the radar. No one outside of the crypto super-niche is even aware of it. It isn't even listed properly on most market tracking sites (it is listed, but not valued properly).
It is extraordinary that it has managed to achieve top ten status without making giant headlines.
Once it does, the result will be a massive increase in BTC's market cap.
This is because of the level of institutional adoption that BTC has garnered. Currently, BTC is mostly being purchased by institutions directly OTC, which avoids direct impact on price. Thus, BTC is actually far more valuable than what the price on exchanges would suggest. Because institutions are all in on BTC, once the public becomes aware of Hex, they will be forced to transition from an accumulation phase to an opening transitional phase. If they don't, they risk losing control over their share of the crypto market, as the public transitions from BTC to Hex.
As soon as the public becomes aware of Hex, institutions will be forced to market the ever-loving Hell out of BTC, and its market cap will sky rocket beyond all reckoning.
Hex will likely continue to do well, as well. But institutions that have backed the BTC horse will be forced to push BTC prices much higher than they are now.
