We have had a series of exciting days since BTC bounced from $29.5K on July 21. Most of the "famous" coins are recovering and BTC price is safe above $40K.
However, one thing that worries me is that the total market cap has not had a large fluctuation, has not reached $2T and BTC.D is trending up.
If we analyze the market, we will see that the recent NFT games trend is being pumped up strongly, represented by AXS which has increased from $3 on June 22 to $56 on July 27, are low & mid cap tokens, not top coins.
Most of the NFT game projects appeared a long time ago and also underwent a deep adjustment on May 19, not new and interested in the community. So I think their growth is just a tool for whales to suck more money into the market and signal to investors about a new rally and growth. Then, of course, there was a massive sell-off to end the market.
What is your opinion on this matter? Is this a real rally and growth instead of a bulltrap?