NFT News Official TheBitTimes.com

Applications will be accepted for consideration until November 30. Solana Labs unveiled an all-new incubator program for project development on the Solana blockchain on Oct. 26.  Title simply “Solana Incubator,” the program will offer fundraising , development, networking, and marketing support for web and blockchain projects seeking to build on Solana’s platform. Building a web3 startup on the Solana network? ️ Today, @SolanaLabs introduces their Solana Incubator, so you can get hands on technical, go-to-market, and funding support! Learn more and apply https://t.co/W10WnEgDwQ — Solana (@solana) October 26, 2023 The Solana Incubator will accept applications through Nov. 30. Those accepted will purportedly receive support from the Solana Labs team and its partners throughout the development, marketing, and launch phases of their projects. According to Emon Motamedi, Product Manager at Solana Labs: “Our priority with the Incubator program is to remove the biggest obstacles current...

The P2P team managing Lido Finance’s operations on Solana submitted a funding proposal to sustain Lido’s liquid staking service on the layer-1 decentralized network.  A proposal submitted by Yuri Mediakov and the P2P team suggests two options: the Lido DAO approves $1.5 million in funding to support growth, or the protocol winds down staking support for Solana (SOL) users by Q1 2024. According to Yuri Mediakov’s proposal, the P2P team requires a $1.5 million cash infusion over the next 12 months to bootstrap growth and keep the ‘Lido on Solana’ project alive. The proposal budgeted $600,000 annually for marketing, $200,000 per quarter for development costs, and $100,000 for customer support.  The P2P team expects to command 1% of Solana’s staking market with funding from Lido DAO and compete with other providers within the ecosystem.  At press time, Marinade Finance boasted the top staking platform on Solana with $103 million in total value locked (TVL), per DeFiLlama. Lido Fin...

Clockwork, a Solana-based smart contract automation project, will cease key operations by the end of October due to a lack of commercial viability . The announcement came via a series of Twitter posts on Aug. 27, where Clockwork founder Nick Garfield revealed that active development of the protocol would cease and its nodes on both devnet and mainnet would be turned off on Oct. 31. Hi all, bittersweet news today. The team and I behind @clockwork_xyz have decided to step away from active development of the protocol. 1/ — Nick (@time_composer) August 27, 2023 Garfield pointed to “simple opportunity cost” as the driving factor behind the move, acknowledging that the team sees more potential in exploring other avenues. Clockwork enables users to schedule Solana (SOL) network transactions and automate smart contracts to execute applications based on specific triggers. Despite the shutdown, Clockwork’s code will remain open-source and freely accessible, wit...

Popular NFT project y00ts has announced that it will migrate from the Polygon (MATIC) blockchain to Ethereum (ETH). The project had only moved to the Polygon ecosystem earlier this year from Solana (SOL). y00ts mentioned that it will also repay the $3 million grant that Polygon gave as part of the change. y00ts will join the DeGods library on Ethereum once the migration is complete. Both projects were created by Rohun Vora, aka Frank, in October 2021. In April, the company had already moved DeGods to Ethereum. Frank stated via a tweet that, “We tried our best to make it work, but we just need to bring our 2 communities tog ETH er.” 1. We tried our best to make it work but we just need to bring our 2 communities tog ETH er. I would appreciate it if everyone remains respectful of all parties involved. It’s all love. https://t.co/6AT4SMUT76 — Frank (@frankdegods) August 9, 2023 The project tweeted that they still love Polygon (...

Several Bitcoin price indicators suggest that BTC’s narrow trading range could end soon, resulting in a volatile price move in BTC and altcoins. Bitcoin continues to test investors’ patience, as it remains stuck inside a tight range. Although the near term is boring, traders need to be on their toes because narrow ranges are generally followed by a sharp increase in volatility. The only problem is that it is difficult to predict the direction of the breakout with certainty. Glassnode’s latest weekly newsletter highlighted that Bitcoin’s (BTC) consolidation has shrunk the Bollinger Bands, which are separated by just 4.2%. Citing various on-chain indicators, the authors concluded that investors are unwilling to sell, and in several aspects, it looks similar to “periods like 2016 and 2019-20, characterized by choppy market conditions.” Daily cryptocurrency market performance. Source: Coin360 Although Bitcoin’s near term may look uncertain, the long term remains bullish. Capriole Investme...

Meme coins have become more prevalent than ever. The crypto industry has been welcoming an array of new meme-inspired tokens lately. Looks like dog-inspired meme coins are no longer in the news. With PEPE’s surging popularity, the “frog” seems to be highly sought after at the moment. But in addition to this rise, the risk of fraudulent meme coins has caused fear among many. Recently, it was revealed that more than 14 deceitful meme crypto coins were introduced to the market, all within the span of the last three days. This information was shared by PeckShieldAlert on Twitter, bringing attention to the emergence of such scams in the crypto industry. #PeckShieldAlert The serial rugpull gang has consistently created another ~14 #scam #MEME Tokens within the last 3 days, such as 2 #PEPEPE, #LADYS, #BENZ, #GGBOND, #BENEN, #NEWPEPE, #PEN, #TURBOO, #PEPELOL. The scammers have already transferred around 12 $ETH into #MEXC and hold… https://t.co/oaLPNtGCcx pic.twitter.com/atCmvdT3X6 ...

Stock markets continue to trend upward, while crypto investors wait for this week’s Federal Reserve statements before choosing which direction BTC and altcoin prices will take. The United States equities markets are trying to extend their recovery at the start of the new week. One of the reasons that could be boosting investor confidence is that the yield on the benchmark 10-year note has slipped further to 3.924%. However, the bullish sentiment of the equities markets has not rubbed off on the cryptocurrency markets which continue to underperform. Bitcoin’s (BTC) tight range trading since March 4 suggests that there is uncertainty about the next directional move. Daily cryptocurrency market performance. Source: Coin360 Generally, periods of low volatility are followed by a pick-up in volatility. The congressional testimony of Federal Reserve Chair Jerome Powell on March 7 and March 8 will be watched for the outlook on inflation and rate hikes. Later, on March 10, the release of Febru...

Solana rallied pretty well over the past week. Owing to its 21% appreciation in the said timeframe, it was a part of the top 10 gainers’ list at press time on Thursday. Towards the end of last year, FUD associated with Solana was at its peak. There were several claims doing the rounds that most of the development activity on Solana was faked via artificial identities. However, Ethereum founder Vitalik Buterin felt that there was a silver lining. Assuming that the “awful and opportunistic money people” exited the ecosystem, Buterin opined that the chain had a “bright future.” He also revealed that he was told that there’s “an earnest smart developer community” in Solana. Right after the reassurance was given, Solana ’s meme token Bonk [BONK] was launched. Both the factors, in conjunction, aided SOL to swiftly climb up on the charts. In fact, a recent Analysis by Messari confirmed the same. From oscillating in the $8.5 to $11 range, SOL was priced around $16...