EthereumMax price prediction: Where next for EMAX after Kim Kardashian settles SEC charge for $1.26m?
EthereumMax has been thrust into the limelight for controversial reasons after the US Securities and Exchange Commission (SEC) charged Kim Kardashian for her promotion of the EMAX token.
The celebrity and influencer paid a $1.26m charge to the SEC for failing to disclose that her EMAX posts were promotional.
EthereumMax was not directly involved in this settlement, but its EMAX token was down 10% over the past week, as of 3 October.
What is EthereumMax?
EthereumMax is an ecosystem that is creating a wide range of different cryptocurrency products. It is launching into the world of decentralised finance (DeFi) through its staking and liquidity options.
Meanwhile, EthereumMax also has plans to create its own non-fungible token (NFT) marketplace. This was supposed to launch in quarter two of 2022, according to its website, but investors are still awaiting an update.
EMAX is the ecosystem’s cryptocurrency that uses the ERC-20 standard and is described as a “culture token”. It was designed as a community cryptocurrency, providing “lifestyle perks with financial rewards and incentives”.
EthereumMax charges 6% to every sell transaction of EMAX, which is sent to the ecosystem’s treasury. It charges a further 6% tax to those adding liquidity for the cryptocurrency. Both of these fees are halved if investors trade with the Arbitrum Layer 2, instead of the Ethereum (ETH) mainnet.
ETH to USD
Kim Kardashian vs SEC: Crypto promo ban
EthereumMax has recently made headlines after the SEC filed charges against Kim Kardashian for her promotion of the cryptocurrency. The commission said she failed to disclose the $250,000 payment for making a promotional Instagram post.
As a result, Kardashian paid a $1.26m fine to the SEC, which included “penalties, disgorgement, and interest”. She also agreed to not promote any cryptocurrency for the next three years.
Gurbir Grewal, director of the SEC’s division of enforcement, said in a statement:
This followed a class action lawsuit that was filed by EMAX investors against Kardashian and boxer Floyd Mayweather in January 2022. These investors claimed the celebrities had made false and misleading statements about the EMAX cryptocurrency in their social media posts.
While EMAX was not directly involved in either of these cases, its price has remained stagnant this year.
EMAX’s price history
EMAX went live at $0.00000004 on 17 May 2021 and saw an immediate surge over its first few weeks of trading. It rocketed to its all-time high of $0.00000092 on 29 May.
After a slight consolidation, it bounced back to $0.00000025 on 13 June, the same day as the Kim Kardashian promotional Instagram posts.
Almost immediately, EMAX continued its bearish trend. It closed the month at $0.00000005 and continued falling throughout the year.
By January 2022, when the class action lawsuit was filed, it had fallen to the $0.00000001 level. It has seen a gradual downward so far trend this year and has failed to see any major upswings.
EMAX to USD, all-time performance
Source: CoinMarketCap
As of 3 October, the same day as the SEC charge against Kardashian was revealed, EMAX was trading at $0.000000004. At the time of writing, it was down roughly 10% over the past seven days and 77% year-to-date.
EthereumMax price prediction round-up
At the time of writing, there was a negative outlook for the EMAX price prediction from CoinCodex. It said there was a bearish sentiment with the fear and greed index displaying “extreme fear”. Out of 25 technical indicators, 16 were giving “sell” signals.
However, the site’s ethereummax price prediction for 2022 outlined that it could have risen to $0.0000000049 on 2 November.
DigitalCoinPrice was bullish for the token’s long-term performance. It anticipated EMAX could have averaged out at $0.0000000042 this year and could have gone on to $0.000000017 in 2025. Its ethereummax price prediction for 2030 said it would have broken past the $0.00000005 barrier.
An even more optimistic forecast was provided by PricePrediction. It suggested that it could have reached an average price of $0.00000001 for 2022. The site’s ethereummax price prediction for 2025 said it could have hit $0.00000002 and could have continued to $0.00000010 in 2030.
Similarly, TechNewsLeader’s ethereummax coin price prediction said it would have achieved $0.00000001 in a year and $0.00000003 in five years’ time. By 2030, a maximum price of $0.00000015 was anticipated.
When considering an ethereummax crypto price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
FAQs
Is ethereummax a good investment?
Ethereummax has struggled with its price momentum since its launch last year. This seems to have been exacerbated by the recent SEC charge against Kim Kardashian for her EMAX Instagram post.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the EMAX token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Will ethereummax go up or down?
It depends on who you ask. CoinCodex said there was bearish sentiment around the token with the fear and greed index displaying “extreme fear”. Meanwhile, PricePrediction and TechNewsLeader anticipated strong gains from the token.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether ethereummax is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in ethereummax?
Whether you should invest in ethereummax is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.
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