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Information about The Sandbox (SAND)
The Sandbox is a blockchain-powered platform that allows users to create NFT assets and make purchases and sales of those assets. The platform is focused on enabling an innovative “Play-to-earn” model that allows players to both experience the game and share, collect, and trade virtual assets without censorship controlled by the publisher. The Sandbox attracts support and investment from many big names in the gaming industry, such as Atari, Helix, and CryptoKitties.
The Sandbox Token (SAND) is the utility token in The Sandbox, used as the basis for transactions and interactions in The Sandbox’s ecosystem. SAND has the following roles and uses:
News
The crypto market has witnessed a dramatic fall in gaming tokens, leaving The Sandbox (SAND) and Gala Games (GALA) among the notable losses, with no gaming tokens present in the current top 100 cryptocurrencies by market cap.
April 11 marked the start of a 10-day free trial for Eve Frontier, an Ethereum-based MMO from CCP Games, allowing players to enjoy gameplay and explore the universe without financial commitment.
Immutable is merging its original Immutable X network with the zkEVM layer-2 blockchain, aiming for a unified gaming ecosystem in late 2025 after significant growth in recent transactions.
The metaverse is witnessing a decline due to the rise of generative AI technologies. Investments by companies like Meta have not yielded expected outcomes, leading to doubts about metaverse’s future.
Despite challenges, tokens like MANA, SAND, and AXS show resilience. Investors with strong conviction see these as undervalued opportunities and community-focused platforms may drive future success.
SAND’s breakout from the falling wedge indicates a strong bullish trend, with current trading at 0.3995 USD, representing a rise of 10.31% in the previous day.
The immediate resistance level to watch is 0.80 USD, failure to maintain above this could hinder upward momentum, while success could lead to a target price of 1.50 USD.
Recent data shows a 500% increase in transactions between 1,000,000 USD and 10,000,000 USD, indicating significant institutional accumulation and overall positive momentum in network activity.
Bitcoin reached a peak of 98,976 USD, the highest level since December last year. Despite the surge, analysts suggest caution due to low trading volumes, which might affect future growth potential. Increased volume will be essential for sustaining upward momentum.
On January 3, US tech stocks saw substantial gains, leading to an overall market recovery. Noteworthy was Nvidia’s 4.7% rise and SUPER Micro Computer’s 10.9% increase. These gains were attributed to ongoing investments in AI developments, including Microsoft’s announcement of an 80 billion USD AI project.
The altcoin market showed impressive recovery, with projects like Internet Computer and The Sandbox experiencing notable growth. This general uplift in altcoin performance helped improve market sentiment, supporting a double-digit increase across several tokens, including ETH, DOGE, SAND, and others.
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