Sony Unveils Soneium Testnet and Spark Incubator to Boost Web3 Development

Daily Top Performer — DOGS (DOGS)

The SPX index was down by 0.6%, the decline followed investor reactions to Nvidia's earnings, which, despite meeting expectations, failed to impress due to a less significant beat compared to previous quarters. Investors are also focusing on upcoming earnings reports and jobless claims data. The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 5.17% and 1.66%, respectively in the past 24 hours.

Today's top performer is DOGS, which surged 19.5% following Bybit's announcement of a boosted prize pool to 20,000 USDT for its DOGS Trading Competition.

DOGS (DOGS), launched in August 2024, is a memecoin on The Open Network (TON) blockchain, designed for Telegram users and inspired by Pavel Durov's meme character, "Spotty." It leverages meme culture and community engagement to rapidly grow in popularity, alongside other dog-themed coins like Dogecoin and Shiba Inu, and has become a notable Telegram mini-app. 

The DOGS Trading Competition on Bybit now features a prize pool of 20,000 USDT. Participants can trade Perpetual Contracts for a chance to win up to 2,000 USDT. Register via the provided link.

Check Out the Latest Prices, Charts, and Data of DOGSUSDT Perp and DOGS/USDT Spot!

Talk of the Town:

Sony has launched the "Minato" testnet for Soneium, its upcoming Ethereum Layer 2 network, and opened the Spark incubator program. The testnet allows developers and users to test and provide feedback before the mainnet launch. The Spark incubator offers up to $100,000 in investment and support for DeFi, NFT, gaming, and social projects, aiming to onboard 30 projects in its first cohort starting mid-October. Soneium is supported by partners including Astar Network, Optimism, and several VCs, marking Sony's continued expansion into the web3 space.

Bitcoin Spot ETF Flows:

Yesterday, the BTC Spot ETF data shows a total outflow of $105.3 million, with $8.0 million from GBTC and $97.3 million from non-GBTC sources.

Check Out the Latest Prices, Charts, and Data of BTCUSDT Perp and BTC/USDT Spot!

Airdrop to Watch:

The $SWELL token generation event (TGE) is expected in September, and a special Loyalty Bonus will be included in the airdrop for dedicated community members. The bonus is based on two factors: earliness, determined by participation across four Epochs from the mainnet launch to the snapshot, and commitment, measured by the difference in Pearls earned across epochs. The amount of deposited assets doesn't affect the bonus, which is aimed at rewarding early and sustained commitment rather than large deposits.