Crypto Today: Top 3 Cryptocurrency News Today 04/21/22

Yesterday evening, Wednesday, April 20, Bitcoin dropped to $40,820 on Binance, before returning to worry about the $42,000 resistance area. The main cryptocurrency by capitalization seems to want to consolidate at the levels achieved in recent days, but the uncertainty that pervades all financial markets, provoked by macroeconomic events, makes any kind of prediction difficult.

Bitcoin dominance grows slightly, reaching 41.3% of all Cryptocurrency market, without recording significant movements. The market cap is back above $1.930 billion, but many are waiting to cross the 2000 psychological threshold, which will give another bullish signal.

also Major Cryptocurrencies Looks like they want to consolidate at the restored levels, some see a slight dip, most are up 1 or 2 percentage points, but we also have excellent bullish points, like 0x (ZRX) gaining more than 50% in one day, Kafa (Kafa) +15 %, pancake swap (kik) + 9%, eos (eos) + 7%. Let’s see the main news of the day.

Commerzbank applies for a license to operate in cryptocurrency

German banking giant Commerzbank, through a spokesperson, told local media that it has ordered one Cryptocurrency custody license in the beginning of the year. As of January 1, 2020, any company wishing to provide cryptocurrency services in Germany must first seek approval from the Federal Financial Supervisory Authority (BaFin).

If BaFin agrees to Commerzbank’s request, the company will be allowed to provide exchange services, as well as to hold and protect cryptocurrencies. It is said that the services the bank plans to offer will mainly target its institutional customer base, which is more than 70,000 customers, but could also extend to 18 million retail customers.

BaFin has already issued 4 such licenses in Germany, first of all Coinbase Germany, but it will be the first time for a banking institution. Commerzbank participated in blockchain projects in 2018 without a large following, but it appears that the increasing institutional demand has piqued the interest of the banking giant. Moreover, the emerging European regulatory framework on cryptocurrencies, which may include restrictions on private wallets, will favor brokering crypto services such as those that the German institution intends to offer.

Dogecoin works on offline transactions via Starlink technology

The Dogecoin Foundation has published an article that reveals the beginning of work and the first experiences with the use of the technology RadioDoge along with starlink satellite network. The combination of these systems should allow the popular cryptocurrency to transact offline.

Thanks to the contribution of Elon Musk, the owner of Starlink and a huge fan of Dogecoin, the cryptocurrency is trying to abandon its “meme coin” status, which refers to a digital asset with little real use. Use of radio waves in conjunction with a satellite system to enable Offline TransactionsIn fact, they would be unprecedented innovations in the cryptosphere.

Another important component is the GigaWallet project, a wallet designed for DOGE, which will have to communicate with RadioDoge to process transactions. There is still a long way to go, but it is best to keep your eyes peeled for this digital asset, which may take a flight after such success.

The first accredited Bitcoin Spot ETF in Australia

Australia’s first Bitcoin Spot ETF has been approved and investors will be able to trade the stock in less than a week, exactly on April 27. Cosmos Asset Management Bitcoin ETF It will be launched on ASX Clear and is expected to see an inflow of $1 billion in the first few days of trading.

The spot ETF expects the issuer to buy the underlying in the market; Thus, this may actually increase the demand for Bitcoin. Many believe that the launch of Spot ETFs on Bitcoin in the US, one of the largest and most active markets in the sector, could mark a turning point for cryptocurrency and project prices to much higher levels, and certainly the Australian counterpart launch could favor their approval.

The importance of these financial instruments also lies inEntering institutional actors, who prefer to expose themselves to bitcoin through well-regulated products, which they already know and use, without having to worry about saving. “The event is a huge step forward for Australia and the mainstream acceptance of the crypto industry as a whole,” said Kurt Grommelart, a trader at Australian wealth management firm Zerocap.

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