Darcy Jillian (darcyjillian)

💥 The top-performing altcoins in the fourth week of October 2024 include: ➡️ Goatseus Maximus (GOAT): Surged by 210%, reaching a new all-time high of $0.902. It currently holds above $0.640 support, but if this level fails, it may drop to $0.466. ➡️ Safe (SAFE): Increased by 58%, trading at $1.48 with the potential to flip $1.64 resistance into support. Failure to hold $1.30 could trigger a pullback to $1.10. ➡️ Raydium (RAY): Rose by 40%, trading at $3.01 and aiming to breach $3.33 resistance. A retracement to $2.71 could occur if resistance holds. These gains have primarily spotlighted small-cap tokens and meme coins in the market this week.

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What's happening on the market?! 📊 The past few days have been marked by another wave of FUD around Tether (USDt) – some foreign influencers have started spreading scary stories about the potential decoupling of USDt from the dollar today. Allegedly, from December 30th, USDt will be illegal in Europe, and there's still no clear understanding of regulations or recommendations for exchanges. BUT it's getting harder to scare people with these kinds of rumors, and there are a few objective reasons for that: 💡 The CEO of Tether has stated that exchanges in the EU will not necessarily delist USDT, as they have a transition period of 6–18 months. During this time, Tether will continue working on its legalization in the EU. 💡 The EU occasionally makes some questionable decisions in the crypto space. 💡 Even in the worst-case scenario: USDt is primarily used in the Global South, Asia, and the Middle East, and the European market share of major CEX exchanges is minimal.

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Justin Sun believes that it is necessary to immediately stop selling ether and optimize the income of the Ethereum Foundation organization, and cover operating expenses through lending, staking and loans in stablecoins. "All resources will be redirected to the development of the main L1-level of Ethereum with a priority on scalability, security and adoption, and ETH will reach $10,000. The asset will be able to break the $4,500 mark within the first week, laying the foundation for long-term success, " Sun said. He also believes that it is necessary to reduce the staff of the Ethereum Foundation, leaving only the most capable employees who will receive a significant salary increase. In addition, it is necessary to adjust the rewards for nodes and pay more attention to the mechanisms of burning commissions. As a result, the asset will remain deflationary and strengthen its position as a store of value. .

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Meme coins like Dogecoin and Shiba Inu have created millionaires overnight. But are they here to stay?

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