The Sandbox (SAND) surges ahead of token unlock

The Sandbox community will unlock 372.6 million SAND tokens — amounting to 12.419% of the circulating provide — on Feb. 13.

The information comes amid a 30% surge in value pushed by the announcement of a “mysterious partnership” with Saudi Arabia.

Change inflows surpass outflows

A considerable quantity of SAND tokens — roughly 82 million — has been moved to varied exchanges following the 2 bulletins, in accordance with Glassnode information.

Sandbox Net Transfer Volume from/to Exchanges [SAND] - All Exchanges (Source: Glassnode)
The Sandbox Internet Switch Quantity from/to Exchanges [SAND] – All Exchanges (Supply: Glassnode)

The Sandbox value at the moment sits at $0.90301, down 89.5% from its all-time excessive in November 2021. Nevertheless, during the last 30 days, the token’s value has surged greater than 70%, with its complete market cap sitting at roughly $1.35 billion, and a complete circulating provide of 1.5 billion SAND.

Trading View The Sandbox [SAND] (Source: TradingView)
Buying and selling View The Sandbox [SAND] (Supply: TradingView)

The Market Worth to Realized Worth Ratio (MVRV) is a measure that reveals the distinction between the present market worth of an asset and its precise worth. The ratio helps buyers decide if they may revenue by promoting the asset at its present market value.

In line with a chart printed by Santiment, the MVRV for SAND reveals that sellers might make a revenue proper now. The MVRV for the final twelve months is 48.60%, whereas the MVRV for the final 30 days is 12.03%.

The MVRV for the last 365 days is 48.60%, while the MVRV for the last 30 days is 12.03% (Source: Santiment)
SAND MRV (Supply: Santiment)

The put up The Sandbox (SAND) surges ahead of token unlock appeared first on CryptoSlate.

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