Category: Cryptocurrency News

Long-term holder spending is “seeking equilibrium,” Glassnode suggests — but nothing will be quiet for long.

TikTok has been in the news recently as the U.S. wants to ban the app over fears of the Chinese government using it for surveillance, with Montana being the first state to officially ban the app. With 150 million Americans using TikTok, a blanket ban of the app could have a large impact on people’s livelihoods, especially those who rely TikTok for income. At NewsBTC we wanted to analyze some of the biggest crypto and financial influencers on the platform to find out what they could potentially lose if TikTok is banned in the U.S.A. TikTok Financial Influencers Potential Monthly Loss From our seed list the financial influencer who could have the biggest loss in earnings is Tori Dunlap or @herfirst100k on TikTok. Dunlap has 2.2 million followers on TikTok and we estimate she could lose over $600k a month if TikTok is banned. Another influencer who could see a massive loss in earnings is Vivian Tu or @yourrichbff on TikTok. With 2.4 million followers Tu is estimated to have a potential earning loss of almost $160k a month. Mark Tilbury – @marktilbury – is also set to lose a massive $108k a month if TikTok is banned. TikTok Crypto Influencers Potential Monthly Loss From our list of crypto influencers the influencer who could have the biggest loss in earnings is Mason Verslius @cryptomasun on TikTok. According to our research he could lose over $61k a month if a ban is put in place. The crypto influencer who could face the second largest loss in earnings is @cryptowendyo, who could lose just under $60k a month. Lucas Dimos – @theblockchainboy – is third on our list with a potential monthly loss of over $31k. TikTok Financial Influencers Total Earnings Estimated earnings are based on the number of videos an influencer posts and their engagement rate. Therefore, for some of the larger influencers analyzed, the TikTok ban is estimated to have less impact. For example, Erika Kaulberg – @erikakullberg – has 9.2 million followers but is 6th on our list for total earnings at $1.09 million and estimated to lose $45k a month. TikTok Crypto Influencer Total Earnings From our list of crypto influencers @cryptoprojects has the biggest following of 1.4 million with estimated total earnings of $106k putting him at 7th on our list of top earners. Just above @cryptoprojects is @nft.degen, the second largest crypto influencer on our list with 1.3 million followers. His estimated total earnings are just $124k, making his estimated monthly earning loss $5.6k. Methodology NewsBTC analyzed the biggest Finance and Crypto influencers on TikTok to find out what their potential monthly loss of earnings could be if TikTok is banned in the U.S.A. A list of the top 50 influencers was collated by merging a list of ‘best crypto currency influencers’ from the top Google results. NewsBTC did this by calculating what the estimated total earnings are for top crypto and financial influencers, and dividing that by the number of months they had been active on the platform. Total earnings were calculated using the TikTok Money Calculator on Influencer Marketing Hub which takes the number of videos and engagement rate into account when providing earning estimations.

The EU tech chief spoke to members of the EU-U.S. Trade and Technology Council about the need for a voluntary code of conduct prior to the forthcoming laws.

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It is interesting how I never looked at cryptography during my major because I love most of the mathematical theories that support this field. About a year ago, I started getting interested in crypto and Ethereum. I have enjoyed a lot since then building and learning. But the most incredible discovery for me was the…
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Optimism (OP) has been one of the hardest-hit cryptocurrencies over the last week as bearish sentiment around the coin rose rapidly. The reason for this was a massive amount of OP tokens that were unlocked this week, leading to significant buy pressure on the digital asset. However, the bearish trend does not seem to have ended yet given that the altcoin could see more buying pressure. $600 Million Token Unlock Sends Optimism Spiralling On Tuesday, Optimism saw one of its largest token unlocks when over 300 million were released into circulation. These tokens accounted for around 9% of the total OP supply, which was a significant amount to move into the market, especially during a bear market. Related Reading: Bullish Case For Litecoin Grows Stronger As LTC Halving Draws Close The coins totaling 386 million OP at the time were worth approximately $600 million. This meant that there was now $600 million worth of new potential selling pressure for the token and the altcoin began to respond before the unlock was live. In the hours leading up to the massive unlock, OP’s price first dropped around 7%. But then the unlock triggered further sell pressure and by the time the sellers were done for the day, the digital asset had already lost more than 20% of the value it began the day with. OP falls to five-month low | Source: OPUSD on TradingView.com More Pain To Come For OP Holders? While it does seem that OP sellers are starting to tire out, the bearish case for the altcoin continues. This is because the $600 million unlock was only the first unlock for core contributors and investors, meaning VCs and others. Data from Token Unlocks shows that Optimism has another token unlock coming up at the end of June for a total of 24.15 million tokens. This means that a month from now, another $34.5 million worth of tokens will be unlocked. This 0.562% of supply may be smaller than the 9% unlock that took place in May but it will put selling pressure on the token nonetheless. $34.5 million in OP set to be unlocked on June 30 | Source: Token Unlocks At the time of writing, the coin is down 10% on the daily chart and 33% on the monthly chart. OP’s price has now fallen to $1.37, a price level that has not been seen since January. This is a 50% decline from its 2023 highs. Related Reading: Here Are The Top 3 Chinese Coins To Buy As China Leads The Bull Run If the bulls fail to recover OP’s price this week, then it could fall below the $1.3 support. A fall below this level would be detrimental to holders as the next likely support for the digital asset would sit at $1.2, prompting a further 10% drop. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from Coin Culture, chart from TradingView.com

Self-proclaimed tinkerer 0xDEAFBEEF has hit it big with audiovisual NFTs that slowly degrade in quality every time they’re traded.