The crypto market witnessed a great week. Especially, the $TRUMP token was quite the major piece of news this week. A trader raked in more than $20 million in one hour. After launching the token, the FDV reached $15 billion, therefore collecting huge profits for early investors. Binance meanwhile made a couple of big announcements. Residents of Uzbekistan can now finally access services on the exchange. In line with that, the company partnered with the National Agency of Perspective Projects to be able to comply with the local regulations.
Moreover, Bybit also announced a partnership with Entravel. Now users can get discount luxury hotel bookings. Lastly, PancakeSwap launched IFO with the Solv Protocol. The goal of this project is to promote liquidity and $BTC staking solutions.
Trader Earns $20 Million in One Hour from $TRUMP Token
The most interesting news of the week was the $TRUMP memecoin launch by Donald Trump himself. The $TRUMP token quickly gained attention in the crypto world. Hours after its launch, it reached a $15 billion FDV. This meant some traders made shed loads. For example, one trader who made more than $20 million in one hour, clearly made waves.
This trader spent 1.1 million USDC to purchase 5.97 million $TRUMP token some 90 seconds after Donald Trump unveiled the token on Truth Social. Now these tokens are worth $23 million. Later on, the trader purchased 543,000 more $TRUMP tokens for $404,000 and now has 5.43 million tokens for about $21 million in profit.
Binance Expands Services to Uzbekistan Following Regulatory Agreement
This week, Binance announced a major milestone by revealing that it finally had the capacity to service residents of Uzbekistan. The development follows the platform’s agreement with the National Agency of Perspective Projects (NAPP) in the Republic of Uzbekistan. With the partnership it means that Binance will be compliant to local regulations and local standards for regulation which is further cementing the stance of Binance in the region.
The agreement shows Binance aims to promote a safe and innovative blockchain environment. Binance is working closely with Uzbekistan’s top regulatory policymakers to pump up local adoption. Working together will help the platform offer services according to the legal framework in Uzbekistan.
Binance Announces New Crypto Transfer Procedures for Poland Users
While a week ago Binance, the most famed centralized crypto exchange, reported various incorporates to its crypto strategies for Polish customers. These changes were necessary to comply with the latest European Union regulatory requirements, the exchange said. Crypto transfers in Poland users were urged to comply with new procedures by Binance through its web portal.
These updates are coming into effect on January 20th and will improve regulatory compliance within the EU. Specifically, these changes intended to make things more secure and less painful for users. This is all in an effort to make crypto transfers safer and more convenient for the user, as well as adhering to EU regulations.
Bybit Partners with Entravel for Discounted Luxury Hotel Bookings
Meanwhile, the second largest crypto exchange by trading volume, Bybit, has also announced its decision to collaborate with Entravel cryptocurrency booking service for hotel accommodations. The goal is to enhance the Bybit user travel experience by supporting off platform discounted luxury hotel bookings. Bybit users can also enjoy free membership to Entravel and get free rates on over one million hotels worldwide via this partnership.
Users get access to the affordable luxury travel thanks to the discounts, which range from 60% to 70% off the price seen with traditional travel booking services. On top of this, Bybit Cardholders can also enjoy other benefits, such as hotel booking cashback at up to 6%. This partners with Bybit’s ongoing mission to increase the real-world utility of cryptocurrency and make a difference in the daily lives of users.
PancakeSwap to Feature Solv Protocol in Upcoming IFO
Decentralized exchange PancakeSwap, the leading DEX on the BNB Chain, announced the start of an Initial Farm Offering (IFO). From January 16th through 17th, the IFO will be dedicating this slot to the Solv Protocol, presenting a tantalizing possibility for its users to connect with such liquidity and Bitcoin ($BTC) staking solutions. PancakeSwap’s official social media account announced the announcement.
Such IFO will drive users to Solv Protocol to interact with $BTC staking and liquidity solutions. Solv Protocol increases $BTC asset utility by way of SolvBTC and SolvBTC.LSTs. SolvBTC is a token pegged 1:1 to the value of $BTC, making it more usable for DeFi and crosschain transactions. Liquid staking tokens (LSTs) like SolvBTC.LSTs give $BTC holders the ability to earn yields and maintain liquidity. The staking of native $SOLV token enables users to earn rewards, vote for governance and receive discounted fees for transfers.
Conclusion
In short, crypto world saw major developments this week. Eventually, the $TRUMP token rose, with some trader somehow earning more than $20 million in an hour. Binance expanded its services in Uzbekistan under a regulatory agreement. Users also benefited from discounted luxury hotel bookings with Bybit’s partner Entravel. Solv Protocol, that aims at bringing BTC staking and liquidity solutions, has been launched by PancakeSwap with its IFO. The impact of crypto in various sectors is becoming more felt because of these events which in turn benefits users globally.
