Three things motivate me to do a token review. These three things are; 1. When a token is on the top gainers section on coinmarketcap.com. 2. Personal interest in a token. 3. When a reader recommends a token I find interesting. Today, I’ll be honoring Azhar Sultan’s Ethereum Meta review request.
Is Ethereum Meta a legit or a scam token? Let’s find out. But first, here’s a little disclaimer, to give you perspective.
“I am not a banker or financial expert. I will not be held responsible for your financial decisions. This article is just for educational purpose, consider it a form of entertainment. I’m not here to promote or disparage any coin. I consider my analysis to be objective. If you are not satisfied with the things I say, no problem. You are encouraged to always do your own research, whether you agree with me or not.“
With that said, let’s go!
When I investigates Ethereum Meta. The below are the things I looked out for.
Developers behind Ethereum Meta
What people are saying about the Ethereum Meta.
The way the Ethereum meta token is positioned on coinmarketcap, anyone would naturally think the token is legit. On coinmarketcap, the token enjoys having a clear market cap, a fully diluted market cap, etc, on display. Mind you, not many tokens have this under lock, only seemingly ‘legit” token are positioned like that.
And the fact that it has been in existence since 2017 gives it an air of legitimacy. This brings me to the concluding that, the only reason it enjoys it good positioning on coinmarketcap is because of how long it has been in the market. Lastly, seeing it is linked to multi chain is a plus for the token. Green flag.
Ethereum Meta Website
Ethereum meta’s website looks really legit. It was professionally done, tidy and convincing. They begin the description by using an analogy which clearly communicates what they are about.
Scrolling down to “coin specifications” section on the website. The problems ethereum meta was built to solve was clearly stated as
“Ethereum Meta addresses a major weakness in Ethereum: the lack of privacy. Ethereum Meta enables smart contracts where no friend, family, nor foe can see what you bought or for how much.“
In my opinion, ethereum meta (the idea) is a token that combines ethereum and monero. A token that has the functionality of ethereum, and also the unique privacy feature of monero. If you ask me, this is a good idea.
They went ahead to talk about how Ethereum meta works, which I don’t want to dwell on.
To me, the website and it description of the idea behind the token makes a lot of sense. So, like the coinmarketcap positioning, the website is a green flag, very encouraging.
What I however found disturbing is the fact that it has been a project since 2017 that hasn’t really kicked on. Let’s get to the white paper.
Ethereum Meta’s white paper, is a 10 paged pdf. It was published in 2018/2019. The first (introduction) page begins with what we already know of the token. The second page contained Ethereum meta’s goals.
Which I personally found to be lacking in ambition. This token has been around for close to 4 years, and it hasn’t achieved any of it main ‘unambitious” objectives. Red flag.
This shows the developers of this token are clearly unserious, and no investor should invest in an unserious project.
The third page of the white paper, clearly shows them begging for funds. I dont know about you, but this is red flag.
The most shocking thing to me is the 96, 571, 598 total supply on the white paper. But coin market cap has the total supply on 991 trillion. The whole white paper is a red flag.
How can a token that has been in existence since 2018, have no tangible project in 2021? Let’s move on to the market cap and liquidity pool.
Market Cap and Liquidity Pool
According to coinmarketcap, Ethereum Meta’s market cap is $44,803. While it fully diluted market cap is $856,088,544. You can see that the disconnection between the market cap and the fully diluted market cap. This tell you that this token is brain dead, on life support and in coma, getting ready to pass away. Red flag!
On Poocoin, and Bscscan the warning is there. It has an unlocked liquidity pool. And a $45 million+ market cap. There are so many inconsistencies about this token.
The Developers of Ethereum Meta
The developers of Ethereum Meta are unknown. Yeah, it supposed to be a privacy token like monero. So, maybe they have a good reason to anonymous. However, following the history of the token, I suspect the developers are anonymous criminals leveraging on the nature of the coin to exploit investors.
What Investors are saying about the token
Here are comments from YouTube and Discus.
Initially, I personally believed Ethereum Meta started as a legitimate project. Because the idea was sound. But something happened along the way. It however was hijacked by anonymous criminal developers, who do not care about the idea, but their pump and dump schemes.
Here’s an interesting conversation I stumbled upon when I was investigating the token that changed my mind. That conversation (in 2018) suggest it was built to be a pump and dump scheme and I agree with that “legend”.
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