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SandBox (SAND) is ready for another insane 2X rally – Here’s why

Widely-followed crypto channel Coin Bureau predicts the Ethereum-based gaming project Sandbox (SAND) to surge 2X in the coming weeks, making it the biggest gaming cryptocurrency on the market.

The Sandbox began as a 2D mobile game where users could build their own virtual worlds. The Sandbox managed to amass over 40 million users and is still available on mobile today as the Sandbox evolution.

The Sandbox’s virtual world consists of 166,000 plots of land. Land and assets can be bought and sold on the Sandbox’s own NFT marketplace, and all NFTs are priced in the SAND token. SAND is an ERC20 on Ethereum, and it is Sandbox’s in-game currency.

SAND and land give governance rights to their holders, and SAND can even be staked for additional reward. According to the crypto KOL, the Sandbox is currently in closed beta, and a public alpha launch could happen by the end of the year — more on that in a moment.

At the time of the recording, SAND was trading at $3.97. This 63rd-ranked crypto asset by market cap has risen 10,520.8% over the past 1 year. However, the trader emphasizes that SAND still has a lot of upside potential to grow due to the below reasons.

Reasons for SAND extended rally

The trader says that SAND seems to be pretty overextended, however, it is not crashing nearly as quickly as he expected. In fact, it looks like its uptrend is scheduled to continue.

The first reason for that is because NFTs from the Sandbox are some of the most traded of any NFT collection. Many of these purchases are being made in SAND, which creates demand.

Secondly, the trader points out that Sandbox is on the lower end of the top 100, meaning it has a relatively mid-sized market cap. This means it takes less money to push up the price of SAND relative to larger cryptos in the Metaverse category, such as Axie Infinity’s AXS.

Thirdly, SAND’s tokenomics are robust. SAND has a maximum supply of 3 billion. Its initial and current distribution is solid, and its vesting schedule is evenly spread out.

However, the trader also highlights that

Now that said, it’s worth pointing out that another vesting cliff is approaching and set to begin in December. This will see another 300 million SAND unlocked and potentially sold on the open market.

“The last vesting cliff happened back in July, and it seems to have suppressed the price of SAND around that time. This means we could see the same thing happen again come December the 1st.”

Even so, Coin Bureau says that SAND’s technicals are looking good, and that’s the fourth reason why it might continue moving to the upside.

“If my measurements are correct, we could see SAND rally by 2x in the coming weeks, assuming the rest of the crypto market doesn’t crash, of course. The likelihood of SAND rise is high, though, and that’s because of the fifth factor, the Sandbox roadmap.”

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