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Bitcoin has taken resistance at $47,000 and got close to touching $48,000 on a bullish Sunday that saw bitcoin gain about 10%.
Its market cap has once again risen above $900 billion with all cryptos now at $2.1 trillion.
That’s as some say the bull is maybe back after close to four months of bear.
And if bull is in, macro clearly seems to be out. US stocks are slightly down with Nasdaq falling just 0.12%, but Europe’s Stoxx gained 0.5%.
That’s amid little change in the global picture, while in the crypto picture Fashion Week on the Decentraland metaverse showed things are moving.
Many brands participated in what were many firsts, from actual digital stores, to fairly ‘real’ catwalks to even the first dancy performance by Grimes.
Whether that had something to do with it more than Do Kwon turning on the buying after a Saturday off, is anyone’s guess.
But cryptos were due for a rise after a months long re-adjustment with the rest maybe just decoration to that changing sentiment.
Yet at these levels there remains a question on whether this is just a May bounce or the beginning towards new all time highs.
Something that remains to be seen, but cryptos appear to be upgrading themselves.
First with art, now with fashion, maybe dance, this is starting to feel a bit more like a whole industry permeating much of everything.
Its been in the works for years of course, and we’ve been talking about it for years, but much is starting to take actual shape in an elevation of what is now being called more and more web3, a new prominent term to signify the potentially fairly prominent transition.
And so, the speed of growth in this space may be compounding. There’s still scaling matters to address, but we are on the verge of leading the frontier in potentially all industries to some extent.
Some more than others, and when we say verge we’re thinking more many months or even a couple of years, but a lot wasn’t real until now. A lot is starting to become a bit real.