Decentral Block Post

Could Bitcoin (BTC) be headed for an imminent pullback? Some crypto market observers believe the answer could be hiding within the price action of a frog-themed memecoin.

In an Oct. 27 post on X (formerly Twitter), Onchain Capital co-founder and Crypto Banter host Ran Neuner suggested that memecoin Pepe (PEPE) is a strong indicator of overblown crypto market fever.

“If you want to know when a pull back is coming, just watch PEPE. It’s literally an index for when the market is getting overheated,” said Neuner.

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

Pepe recently witnessed a more than 100% gain, growing from $0.00000064 on Oct. 20 to a peak of 0.00000134 on Oct. 27. Around the same time Pepe reached its peak, Bitcoin had already begun sliding downward from a recently attained yearly high.

A United States district court judge has ordered nonfungible token (NFT) artists Ryder Ripps and Jeremy Cahen to pay Bored Ape Yacht Club creator Yuga Labs a total of $1.57 million in disgorgement and damages, along with legal fees, bringing an end to the long-running “copycat” NFT lawsuit.

The Oct. 25 order follows an April 21 partial summary judgment granted in favor of Yuga Labs after the firm claimed that Ripps and Cahen, the defendants, violated copyright laws by making copycat versions of its Bored Ape Yacht Club (BAYC) collectibles.

District Court Judge John Walter awarded Yuga Labs $1.37 million after concluding the NFT firm was entitled to a disgorgement of the defendants’ profits. An additional $200,000 was awarded in statutory damages relating to cybersquatting violations.

Yuga Labs has also been entitled to recover attorney fees and costs from the NFT artists after the judge determined the trademark infringement constituted an “exceptional case.”

“A trademark case is generally considered exceptional for purposes of awarding of attorneys’ fees when a party has taken positions that can be characterized as ‘malicious, fraudulent, deliberate or willful,’” the judge noted.

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.

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 currently facing founders, including barriers around Web3 integrations and fundraising, so that these teams can spend their time on what they do best: solving the burning problems of their users. By providing founders with the resources they need to succeed, we hope to not only bring more sustainable businesses to the Solana ecosystem, but to also help grow the Web3 industry as a whole."