This week brought notable advancements in the blockchain and crypto sectors ranging from much-wanted integrations to new launches. Firstly, CoinShares International Limited announced its Physical Bitcoin ETF became the largest in Europe after Bitcoin surged past $100,000. On the other hand, Transak integrated with Phantom, a highly growing crypto wallet to enhance the availability of digital assets globally that has resulted in a four-hundred percent increase in solana transaction.
Moreover, PlanX Game Wallet launched the Spot Trading Beta and the $PXP token that allows for easy trading and supports the ecosystem’s growth. Moreover, Binance Pakistan worked with the Alpine F1 Team during the Abu Dhabi Grand Prix event incorporating blockchain and automobiles. Last but not the least, PancakeSwap also launched SpringBoard which is designed for creating tokens outright.
CoinShares’ Physical Bitcoin ETF Becomes Europe’s Largest
The Physical Bitcoin exchange-traded product has received significant attention by CoinShares International Limited. It disclosed that the Physical Bitcoin ETF had become the biggest in Europe in terms of AUM once Bitcoin crossed the $100,000 threshold.
Established in January 2021, the $BITC ETF was slow to start but later outcompeted established players such as ETC Group, Bitwise Europe, and 21Shares. It is a major milestone for CoinShares as the company has become one of the leading European players in the digital asset investment space.
Transak Partners with Phantom to Boost Crypto Access
Transak, a Web3 payment provider, announced it has connected with Phantom, a rapidly expanding non-custodial crypto wallet. The above strategic move was made to increase the global availability of digital assets. The link was made possible by Meld, a global on-ramp and off-ramp platform. It also made the experience of using crypto easier or convenient for the users.
Phantom users got Transak’s integrated payment solutions with higher transactional thresholds of up to $75,000 in some jurisdictions. This integration made trading in the cryptocurrency easier. This integration was instrumental in driving up the Solana transactions on Transak within the Phantom wallet by 400% within seven weeks. This growth showed that there was high demand and the capabilities of both platforms.
PlanX Game Wallet Launches Spot Trading Beta and $PXP Token
PlanX Game Wallet the company popular for blockchain and Web3 gaming space revealed some new plans. It launched its Spot Trading Beta and included the $PXP token for improved user engagements and the ecosystem. According to PlanX, the accomplishment of the Spot Trading Beta and the $PXP token launched was a significant milestone.
With this update in mind, then it was a move that aimed at changing both the digital gaming as well as trading. The Spot Trading Beta was a defined trading pair only; this made increase the availability of market for trading. New modes of functionality including airdrop distribution, withdrawal, trade and deposit also improved efficiency. All these changes were made aim at enhancing the trading aspect of the game for the users.
Binance Pakistan Partners with Alpine F1 Team at Abu Dhabi Grand Prix
The Binance Pakistan has recently unveiled the latest collaboration with an Alpine F1 Team during the event of the Abu Dhabi Grand Prix. They are focused on the integration of Web3 concepts with Formula 1 racing as a popular sport. Binance Pakistan stated that the cooperation combines blockchain technology with a significant motorsport competition, saying that fans can expect to have fun and witness new technology during the weekend.
The initiative planned for the Yas Marina Circuit will be interesting for both the representatives of the crypto sphere and motorsport enthusiasts. This partnership is a perfect example of how more and more traditional sports are integrating blockchain technology. It can also deliver specific fan engagement, NFT drops, and chances to discuss blockchain adoption in the sports segment.
PancakeSwap Launches SpringBoard to Simplify Token Creation
The leading decentralized exchange on the BNB Chain is PancakeSwap which introduced a new feature called PancakeSwap SpringBoard. Revealed this week, SpringBoard and its ability to make creating, launching, and integrating liquidity for project tokens easier and more efficient solidifies PancakeSwap’s dedication to DeFi.
This new feature enables any developer with no coding experience to develop tokens within a few minutes, choosing some fundamental parameters such as the token’s name and symbol. It also does not require pre-sales, and there are no costs for using the platform, making it easier for more projects to come into the DeFi sector. At the beginning of trading, the fee is 1%, with a minimum of 0.001 BNB, and initial coin injection is limited to 2% before swapping on PancakeSwap.
Conclusion
This week has been very productive in the crypto space as several developments occurred. Firstly, as Bitcoin crossed the $100,000 mark, CoinShares’ Physical Bitcoin ETF became Europe’s largest. Additionally, Transak integrated with Phantom which led to a 400% increase in Solana transactions and increased global adoption of crypto. In addition, PlanX Game Wallet introduced its Spot Trading Beta as well as $PXP token to improve the functionality. Lastly, PancakeSwap introduced SpringBoard as a means of easier token creation and as a reinforcement of the DeFi space.
