Solana Labs Launches Web3 Incubator Program

Ecosystem builder Solana Labs has announced the launch of its Solana Web3 Incubator program. Speaking on the development, the Product Manager at Solana Labs, Emon Motamedi noted that Web3 start-ups require time and resources to build new solutions that benefit their audience. Motamedi identified that these founders frequently face challenges relating to Web3 integrations and fundraising.

“Our priority is to remove the biggest obstacles currently facing founders so that these teams can spend their time on what they do best: solving the burning problems of their users,” he concluded.

Consequently, the Solana Incubator program will make it easy for startups to enter their favored markets and chart a successful course for their businesses. This, the company believes, will bring more sustainable businesses to the Solana ecosystem, and help the Web3 industry grow.

About the Web3 Incubator Program

Currently, Solana has a total value locked (TVL) of $1.254 billion and around 114 dApps on its network, according to DeFiLlama.

Thus, the Web3 incubator program is targeting technical teams who want to utilize the unique benefits of the Solana network and leverage the resources (knowledge and human) provided by Solana Labs.

The program will offer such resources as hands-on engineering, go-to-market and fundraising support. Also, start-ups will enjoy feedback on user experience and guidance on integrations with the Solana blockchain. Further, Solana Labs will amplify successful brands through its marketing channels and help the projects gain connections to the existing projects in its ecosystem.

In the meantime, Solana Labs is inviting startups to take part in the Incubator program. They have until November 30 to submit their applications.

Solana Is a Reliable Indicator of Bitcoin Movements: Trader

There are arguments as to what token is the best indicator for potential Bitcoin moves. Several commentators believe that the meme coinPepe may be a perfect indicator of the intended direction of Bitcoin.

In an October 27 post on X (formerly Twitter), Onchain Capital co-founder Ran Neuner suggested that Pepe is an “indicator of overblown crypto market fever”. Neuner said:

“When people are confident enough to go there and it pumps, that’s your sign to exit. Works every time.”

Similarly, one crypto trader, Alex RTB, noted he had used Pepe as an indicator for short-term Bitcoin declines.

However, a Dubai-based trader Reetika believes Solana is a more reliable indicator for tracking Bitcoin price movements. “SOL has been a very good leading indicator for the moves so far. It has broken out of resistance at least a day before BTC/ETH over this entire move. I’ve been using it actionably for estimating upside,” said she.

At the time of writing, Solana was up 2.2% and trading at $32.87, according to CoinMarketCap.

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An experienced writer with practical experience in the fintech industry. When not writing, he spends his time reading, researching or teaching.