Is The Sandbox (SAND) getting ready for another Pump?
SAND surges 25% as Adidas rumours on a possible partnership.
SAND has gained 600% since Mark Zuckerberg’s announcement about Metaverse.
Sandbox Alpha, scheduled for three weeks from 29th of Nov to 30th of Dec 2021.
The Sandbox is another blockchain-based virtual world. It allows users to create, build, buy and sell digital assets. The Sandbox combines the powers of decentralised autonomous organisations (DAO) & non-fungible tokens (NFTs) to create a thriving game community.
One of the major driving forces behind The Sandbox is Arthur Madrid. Arthur is co-founder and CEO at Pixowl. He completed his undergraduate studies at the Université Paris Dauphine in 2000.
The Sandbox is built on the Ethereum blockchain. It is secured by the proof-of-stake (PoS) consensus mechanism. The SAND token is a standard version ERC-20 token. Holders of this token can decide to stake their coin and earn from it.
The SAND token has a total supply of 3 Billion. As of November 2021, 913,246,119 of these tokens are actively in circulation.
Out of the total available supply, 25.82% is set aside as company reserve, 17.18% was allocated for seed sales. The team members and founders shared about 31% of the total supply. And about 10% was dedicated as rewards offering for project advisors.
SAND / TetherUS daily candlestick chart (Source: TradingView)
SAND has increased by about 600% since Mark Zuckerberg’s announcement on Meta. This rally was well anticipated as all other virtual world related tokens experienced similar movements.
Starting from an all-time low of $0.02894 (Nov 04, 2020), this virtual world token has peaked at an all-time high of $8.51 (Nov 25, 2021).
The SAND token has a market cap of $6,365,555,192.28.
After experiencing a 3 days bull run last week with a week high of $8.4876, SAND is currently consolidating between a market price of $5.7608 – $7.9440.
Summary
SAND is currently consolidating, and this is totally normal for anyone that has been in the crypto space for at least a year. Token (not the regular pump and dump shitcoins) take bull runs intermittently, cool off/retrace partially/consolidate and then continue with an upward trend.
