🦾 ETH turns bullish, hits a 7 months high

🦾 ETH turns bullish, hits a 7 months high 🔥 BNB chain takes a leap forward with Planck upgrade 🐻 Crypto winter takes its toll on Decentraland's Virtual Fashion Week

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Here's what recently happened in the space:

🦾 ETH turns bullish, hits a 7 months high

 🔥 BNB chain takes a leap forward with Planck upgrade

🐻 Crypto winter takes its toll on Decentraland's Virtual Fashion Week

ETH turns bullish, hits a 7 months high

ETH is doing some serious winning lately and it's not hard to see why. Not only has it hit a 7 month high of $1,922 on April 5th, but also showed gains on the seven-day, one-month and three-month timeframes. With a week to go until the Ethereum Shanghai and Capella upgrades on April 12th, the market has seen a bullish surge that some analysts believe may just hit an impressive $3k price target in Q2 2023.

ETH's TVL also reached new heights, hitting an impressive $50.8 billion on April 5th - just shy of its yearly high of $51.4 billion set back in February.

That's an incredible achievement, considering the uncertainty and rumors of regulatory action against exchanges that ETH has apparently just brushed off like a champion. For those of us who held on during the lows, it's a great reward for our commitment and optimism.

BNB chain takes a leap forward with Planck upgrade

BNB Chain (previously known as BSC) is preparing for an update, called Planck. Planck is supposed to improve the blockchain's security and stability, implement BEP-171, and make the network more efficient and interoperable.

The upgrade is set to happen at block height 27,281,024, or around April 12. The upgrade will also introduce several new features, such as a more secure ICS23 verification mechanism to replace the vulnerable IAVL protocol, and a timer-lock system that would pause cross-chain channels in the event of a detected forgery or other emergencies. We can only assume that the dev team has put a lot of thought and research into this upgrade, so there's no question that it will be a success.

Crypto winter takes its toll on Decentraland's Virtual Fashion Week

Decentralands' annual virtual fashion week didn't go quite as planned, with only 26,000 people actually attending the event unlike the last years' estimated 108,000. The event was sponsored by some of the top fashion brands like Dolce & Gabbana, Tommy Hilfiger and Adidas, yet it appears the hype wasn't enough to draw in crowds. At no point during the event, were more than 1,000 people logged in at once.

The crypto winter has been especially harsh to the Metaverse projects, it seems. Despite Decentraland being valued at an estimated $1 billion at some point, the value of its native token, Mana, has dropped significantly - from its all-time high of around $5.00 in late 2021 to just $0.60 currently. According to various reports, the lower than expected number of attendees could be attributed to the limits of the platform itself, as nothing really changed within the game itself since its launch. It's sad, but we have to face the fact that the market is transforming into something completely different.