Sandbox Whales Activity Surges As The Crypto Sector Settles Down

It Turns Out That SAND Whales Are Shifting Large Amounts Of Tokens, With Several Large-Scale Transactions

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Whale addresses have amassed almost 11.4 million SAND tokens, or roughly $5 million, in the past two weeks, suggesting that activity in The Sandbox has increased. Whale transactions increased by 250% in a single day, indicating significant actions by big investors that might portend future price shifts. According to analysts, this activity could result in notable price reversals or corrections. Strong investor confidence was demonstrated by a noteworthy transaction in which a whale transferred 409 million SAND tokens, worth approximately $260 million.

Possible whale activity stabilization

Even though whales are accumulating SAND tokens, there are indications that their activity may soon level off. According to the Market Value to Realized Value (MVRV) ratio, profit-taking may occur shortly. Future price movements may be impacted as a result of large holders selling some of their assets to secure profits as prices rise.

SANUSD's recent performance

Due to favorable market sentiment, SANUSD surged nearly 145%, making it one of the best performers of the previous week. It is now trading at about $0.7537 after peaking at $0.830. An additional bullish trend would be confirmed by a daily close above $0.83. On the 4-hour chart, the pair is trading above the long-term (200-day EMA) and short-term (34 EMA and 55 EMA) moving averages.


                                                                                            Source: CoinMarketCap 

Short-term resistance and support zone for SAND

A break above the current resistance level, which is approximately $0.830, could send the pair to $0.94, $1, or $1.50. A significant bullish continuation would be confirmed by any breach above $1.50, opening the door for a jump to $2. On the downside, $0.70 serves as immediate support, and possible declines aim for $0.60 or $0.50.

About SAND

The Sandbox is a blockchain-powered virtual environment where users can design, construct, purchase, and sell digital goods in a gaming environment. It was introduced by Pixowl in 2011 and is currently a division of Animoca Brands.

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