The Sandbox Research Hub | SAND information, history and analysis
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:
- Circulation: SAND is considered the currency in The Sandbox ecosystem. Players can earn money and use the money to buy in-game items.
- Governance: SAND allows owners to participate in the governance decisions of the Sandbox ecosystem.
- Staking: Users can use SAND to stake and earn rewards paid in SAND.
- Transaction Fees: SAND is used to pay transaction fees on The Sandbox’s Marketplace.
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.
SAND’s breakout above $0.62 signals strong bullish momentum for traders. The current price of $0.6308 reflects an 8.60% gain in 24 hours, with an upcoming target of $0.75 before reaching the psychological mark of $1.
On-chain metrics show a 0.30% growth in network activity. With 0.83% of holders in profit and increased institutional trading by 10.96%, the bullish sentiment is strong, despite minor profit-taking by large holders.
SAND’s market position is strengthening: The Sandbox is currently consolidating while enhancing its ecosystem. Analysts forecast that increased adoption of the platform will push SAND to a new all-time HIGH (ATH) by Q1 2025 as demand grows.
Current market dynamics favor SAND: SAND is currently priced at 0.7628 USD, with significant short liquidations exceeding 9.08 million USD. The shift in market sentiment from bearish to bullish indicates a rising confidence around SAND’s potential.
SushiSwap gains over 25%: SushiSwap (SUSHI) has surged more than 25% within a day, breaking through a parallel channel pattern. This upward Movement has taken the token past the 2.22 USD resistance level. Analyst Jonathan Carter points to future targets of 4.40 USD, 6.40 USD, and eventually reaching 15.40 USD.
Sandbox surpasses resistance: The Sandbox (SAND) has broken out from a broadening wedge pattern, aided by a double bottom near the 0.22 USD range. The token now faces crucial resistance at 0.90 USD. Should it maintain above this level, projections suggest reaching targets like 1.50 USD, 2.60 USD, and 8.00 USD.
Shift from Bitcoin to altcoins: Traders are shifting from Bitcoin to altcoins in search of quick profits. Bitcoin nearly reached 100,000 USD last week but has returned to around 96,000 USD due to profit-taking activities. Although Bitcoin has decreased by about 1% over the past 24 hours, Ethereum has increased by over 4%, indicating a growing interest in altcoins.
Supportive cryptocurrency policies: The market sentiment is positive due to the announcement that SEC Chairman Gary Gensler will resign. President-elect Trump is expected to choose Scott Bessent, a crypto-friendly hedge fund manager, as Treasury Secretary. This creates hope for more crypto-friendly policies in the US, driving market growth.
Potential of altcoins SAND, LDO, UNI: The Sandbox has increased by 30% in the past 24 hours and has the potential to grow over 10 times if it returns to its historical peak. Lido DAO broke a critical resistance level and is currently trading below 1.70 USD. Uniswap has reached a record high over the past 6 months. These altcoins are expected to increase by 5-10 times in the next bull market season.
SAND trading volume is $655.44m. Market capitalization reaches $1.72b.
Stellar stands out with strong XLM token and anchors system. Tezos focuses on flexible governance and scalability. Polkadot promotes interaction between blockchains. The Sandbox revolutionizes gaming with blockchain models. These platforms are leading the way in defining the future of decentralized ecosystems.
SAND trading volume is $404.66m. Market capitalization reaches $1.38b.