Experienced Analyst il Capo’s Market Update

Experienced analyst il Capo of Crypto, known for his detailed cryptocurrency analyses, has reinterpreted the market in his latest update.

Tether (USDT) Delisting Warning

Il Capo has issued a warning regarding the upcoming Tether (USDT) delisting, which will impact several cryptocurrency exchanges within the European Union. Notably, the cryptocurrency exchange Kraken will delist USDT, EURT, PYUSD, UST, and TUSD stablecoins in the European Economic Area, in compliance with MiCA regulations. Consequently, users in this region will no longer be able to buy or sell these assets on the exchange.

Starting February 27, trading for these stablecoins on Kraken has switched to sell-only mode. Furthermore, from March 31, all other stablecoins will be automatically converted to USDC.

Global Implications

According to il Capo, although this situation is currently confined to Europe, there could be increased pressure on stablecoins globally by 2025. He suggests that USDT may face additional challenges in such a scenario.

Preferred Stablecoins

The analyst expresses a belief that USDC is relatively safer, although he does not plan to hold any stablecoins this year, urging caution and readiness for any adverse situations.

Promising Altcoins

Additionally, il Capo listed several altcoins exhibiting bullish charts in the short term, including NEAR, DOGE, and ALGO.

Note: This is not investment advice.