Hedron price prediction: More utility for Hex stakers

HDRN is built for HEX investors, but is it accessible for a wider userbase?

“Staking” in gold text in front of a bar graph                                 
Staked HEX must first be turned into a Hex Staking Instance, before it can be transformed into HDRN – Photo: Shutterstock
                                

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Hedron has hit the ground running. It only launched at the end of February 2022 and has already seen its token price surge, along with the total value locked (TVL) into its platform.

Yet Hedron is a very niche cryptocurrency, as it is designed specifically for HEX cryptocurrency investors. This could act as a barrier as it attempts to compete in the crowded NFT environment. But price predictions neverthless seem somewhat confident on the future of HDRN.

What is Hedron (HDRN)?

Hedron is a cryptocurrency built on top of HEX and was designed to add more utility to its inspirer. Hex is an Ethereum- and PulseChain-based token that revolves around staking. Investors can stake the token and earn a portion of its inflationary supply.

In 2022, a group of developers who are “passionate about HEX” launched Hedron. This new cryptocurrency was not connected to the HEX founder or original team, a point that is clearly specified on its website.

Through the Hedron platform, users can turn their staked HEX into HDRN, which has a variety of uses. To do this, investors must first create a HEX Stake Instance (HSI), a smart contract that tokenises a HEX stake. HSI can then be turned into HDRN, according to a ratio based on the quantity of the stake and the number of days you have been staking it.

For investors who do not want to go through this process, HDRN can be bought on some exchanges: these currently include Uniswap, BKEX, and PulseX. However, Hedron has tweeted that the cheapest way to aquire the cryptocurrency is by transforming staked HEX.

What can you do with HSI?

HEX Staked Instances have three main functions: borrowing HDRN, minting HDRN and creating NFTs.

Borrowing gives users the ability to earn HDRN immediately, instead of waiting for the required number of days needed for minting. The website says that this method might also be “be highly tax-advantageous to the staker”.

For those looking for a longer-term investment, HSI can be permanently minted into Hedron. While this does require users to have been staking HEX for a certain amount of days, there are benefits to this. Investors are sometimes rewarded with a mint bonus: this ensures there is enough HDRN to cover the borrowing demand.

HEX Staked Instances can also be transformed into NFTs. These can then be sold on marketplaces, including OpenSea. Owners are able to keep their NFT, or melt it back down to its original HSI.

HDRN’s price history

Hedron is new to the crypto world, having only launched on 26 February 2022. According to Etherscan, it started trading at $0.000001 and climbed to $0.000002 on the same day. The cryptocurrency ran a special launch bonus, where users will have a multiplier applied to the sum they mint for the first 100 days. This starts at 10 times the initial minted amount, and will reduce every 10 days.

Having fallen the following day, HDRN climbed back to around $0.0000017 on 28 February. This was the same day the first NFT minted with HSI was sold on OpenSea.

HDRN saw another rally at the beginning of March. The Hedron platform's TVL grew from under $1m on 8 March to $3.80m three days later. This could represent more people borrowing from Hedron or using their staked HEX to mint HDRN.

At the time of writing, on 11 March, Hedron is sitting at $0.000005. Can Hedron keep up this momentum?

Hedron price prediction

As Hedron is new to the crypto market, there are not many analysts making a HDRN price prediction. 

PricePrediction.net is one of the few sites that has made a forecast. It suggests a gradual climb is in store for the staking token. Its Hedron price prediction for 2022 expects it to surge from $0.000006 in May to $0.0000076 at the end of the year. HDRN is then expected to race to $0.0001, according to the site’s Hedron price prediction for 2030.

DigitalCoinPrice similarly thinks HDRN will hit the $0.000007 mark this year, but its forecast is less bullish for the longer term. Its Hedron price prediction for 2025 expects the token to grow to an average price of $0.00001. In 2030, HDRN is only expected to reach $0.00002.

The future of Hedron

Hedron still has a long way to go and a lot to prove, if it is to penetrate the increasingly competitive NFT market – especially as it is a niche token whose utility stems only from the HEX cryptocurrency.

But there have recently been some hopeful signs for the staking token. As well as the bullish price history, the recent surge in TVL suggests investors have begun to migrate to the platform. The limited number of price predictions that are out there seem to think it can keep this up.

FAQs

According to Etherscan, there is a maximum total supply of 61,280,448,485,999 HDRN.

It might be. HDRN was designed for HEX investors to give them more earnings and utility with their staked tokens. Hedron has warned that purchasing HDRN through exchanges is not the cheapest way to aquire the tokens. Before investing, you should always conduct thorough research.

There are only a few sources making Hedron price predictions, but they expect a gradual rise for the token. PricePrediction.net thinks it can hit $0.0001 in 2030, while DigitalCoinPrice is slightly less confident, and only predicts that it will reach $0.00002 by 2030.

Bear in mind that Hedron is a new token and that all cryptocurrencies can be susceptible to volatility, and never invest more than you can afford to lose.

It depends. The concept of Hedron might be appealing for HEX holders as they can utilise their staked tokens. However, HDRN is a new token and still has a lot to prove. Investors should always research any cryptocurrency thoroughly before investing.

Further reading

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