ISLAMABAD: Kim Kardashian, a renowned American beauty pageant, actress, model, reality television icon, businessperson, and producer is minting money to promote cryptocurrency. The 40-year old beauty pageant’s net worth in 2021 is estimated about one billion dollars. Recently, she posted a message on her Instagram for her 228 million followers about Ethereummax.
Analysts believe that she has received more or less half a million dollars to share a message about cryptocurrency, Ethereum. It would be difficult to say how much amount she has received from this post, but her past record indicates that Kim Kardashian gets a minimum of $0.3 million to more than half a million dollars for sharing a paid message with her millions of followers on social media.
At the end of her paid message, Kardashian has included #AD which is a mandatory tax requirement from the US Federal Trade Commission to indicate that it is a paid advertisement. A portion of the income from this paid advertisement will be taxable according to the US tax laws.
The Ethereum Max project was initiated a month ago and it is an ERC-20 token on the Ethereum blockchain. In fact, Ethereum Max is an upgrade or competitor of Ethereum cryptocurrency. It just requires a little technical skill to Ethereum Max and people take benefit of functions of the blockchain of Ethereum.
Emax is not affiliated with any of the developers behind the Ethereum cryptocurrency. For example, there are dozens of crypto coins with “Bitcoin” in the name, but they have little to do with original Bitcoin currency.
Kim Kardashian’s famous quotes are “I have to be in a relationship in order to be intimate. I am not the one-night-stand kind of girl. She also said, “The perfect date for me is to stay at home, make a picnic in bed, eating cookies and watching TV.” Famous American showbiz celebrity Kardashian is facing criticism from many of her fans and followers for promoting cryptocurrency. Most fans believe that Kardashian must not encourage her millions of followers to involve in cryptocurrency which is highly volatile and vulnerable these days.
For example, once again Bitcoin has dropped to $35,500 on June 19, 2021. Market capitalization of this leading cryptocurrency has also declined to $666 billion, from more than $700 billion a couple of days ago because of a lack of support in the market that has triggered a selling pressure. Value of Ethereum has also decreased to around $2,240, from $2,600 a couple of days ago.
Ethereum’s market cap has also declined to $260 billion from nearly $300 billion. Thus, since May 2021, Bitcoin alone has lost more or less $500 billion dollars market cap because of US-China action against mining of the cryptocurrency with coal-based energy that was damaging for the global climate. Bitcoin’s market capitalization crossed one trillion dollars three times when the cryptocurrency was shining in the market and hitting the new high levels every week.
Nonetheless, this golden era for Bitcoin and other cryptocurrencies has ended from May this year in the backdrop of the US campaign against coal-based energy utilization for mining of the cryptocurrency and subsequent action of China against miners.