Popular cryptocurrency exchange, Gemini, has gained a Markets in Crypto-Assets Regulation (MiCA) license in Malta to operate in Europe. The Cameron and Tyler Winklevoss-owned exchange can now provide its services in more than 30 European countries. The move is a major milestone for the platform’s European expansion plans. The development follows on the heels of the company filing for a Class A common stock on the Nasdaq Global Select Market.
More Cryptocurrency Adoption In Europe After Gemini’s Approval?
Gemini’s expansion to more than 30 European countries may lead to more people entering the crypto realm. The budding industry has seen incredible adoption over the last decade. The adoption curve is only expected to grow over the next few years.
Also Read: Binance Unlocks Instant Crypto-to-Fiat Transfers for European Users
According to data from Statista, the number of European cryptocurrency users is expected to hit 268.15 million in 2026. Gemini’s entry into the European market will likely further push this number.
Will We Enter Another Bull Market?
The cryptocurrency market has faced a steep correction over the last few days. Bitcoin (BTC) has fallen to the $113,000 level after its recent ascent to a new all-time high of $124,128. The market has seen a slight recovery today, but most assets continue to trade in the red zone in the weekly charts.
There is a high probability of an interest rate cut next month. The market could see fresh capital flowing in if the Federal Reserve decides to cut rates. Investors are eyeing the Jackson Hole meeting later this month for cues on how the US monetary policy may shape up.
The cryptocurrency market is currently following Bitcoin’s (BTC) trajectory. September has historically been a bearish month for the original crypto. If we follow the same historical pattern, we could see a continued consolidation phase over the next few weeks. The market may rebound as we enter the fourth quarter of this year.