The SEC has officially dropped its fraud lawsuit against HEX, PulseChain, and PulseX founder Richard Schueler, better known as Richard Heart. The cryptocurrency is experiencing quite a price surge at the moment. HEX’s price has rallied 9.9% in the daily charts, 45.9% in the weekly charts, 78.8% in the 14-day charts, 22.9% over the previous month, and 29.3% since April 2024.

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HEX Wins Amid Pro-Crypto SEC Head Swearing In

Richard Heart’s victory comes amid the SEC welcoming the pro-Bitcoin Paul Atkins at its helm. Many are hopeful that the new head will be more lenient to the crypto industry than outgoing head Gary Gensler.

According to an X post by the HEX founder, “This is a victory for open-source software, cryptocurrency, and free speech. The SEC actually sued software code itself in this case, claiming it could be an alter ego of a person. This would have set a terrible precedent and caused perhaps multiple billions of dollars of damage to the vital open source and free software industry that powers most of the Internet and your speech on it.“

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HEX’s rally also comes amid a market-wide rally. Bitcoin (BTC) has reclaimed the $93,000 price point. The global crypto market cap has risen 4.2% in the last 24 hours to $3.04 trillion.

Can The Cryptocurrency Climb To A New All-Time High?

HEX hit an all-time high of $0.5108 in September 2021. The asset has struggled to gain momentum over the last few years. The cryptocurrency’s price has fallen by more than 99% since its 2021 peak. The SEC’s lawsuit presented substantial challenges to the asset. With the lawsuit out of the way, the coin could make a comeback.

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According to CoinCodex, HEX will continue to move sideways for the next few months. The platform anticipates the asset to trade at $0.002491 on July 20.