SAND Coin Up 40% in a Day, Trading Volume $1.9 Billion! (25 Nov 2024)
2024-11-25
Bittime - The SAND token that powers The Sandbox metaverse platform has experienced an incredible surge, with an increase of up to 40% in the last 24 hours.
This performance far exceeds that of major assets such as Bitcoin And Ethereum, each of which only recorded an increase of 1% in the same period.
SAND trading volume also skyrocketed, exceeding $1.9 billion — an increase of more than 500% in 24 hours.
The following is a presentation of the analysis and predictions for SAND Coin carried out by Abiodun Oladokun
Improved Daily Transactions of SAND Coin
On-chain data shows a significant increase in the number of daily SAND transactions and a decrease in selling pressure.
These factors indicate the potential for a sustained rally.
Sumber: cryptoquant
Bullish Approach from The Sandbox (SAND) Holders
According to data from CryptoQuant, the number of daily SAND transactions has surged in recent days.
As an illustration, on November 23, there were 2,940 transactions involving SAND, which was the highest number in the last seven days.
This spike is a signal bullish for metaverse-based tokens, as an increase in the number of transactions indicates higher activity and interest.
This indicates greater demand and increased participation from market players.
Additionally, this also indicates growing confidence in SAND prices, potentially pushing them higher.
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Improved Withdrawal of SAND Coins from Exchange
Additionally, there was a significant increase in SAND withdrawals from exchanges. According to CryptoQuant data, this token withdrawal transaction reached 877, which is the highest number in one day since June 2023.
This exchange withdrawal metric tracks the amount of cryptocurrency withdrawn from the exchange.
A spike in this metric indicates that investors are moving their assets away from the exchange.
This is a bullish signal, indicating increasing confidence and a potential long-term holding trend.
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SAND Coin Price Prediction: Rally Above $0.66?
On the daily chart, SAND is trading at $0.61, a level last seen in April.
Currently, the price is below resistance at its cycle peak of $0.66. If bullish momentum gets stronger, SAND could rally towards this peak and reclaim the level.
Conversely, if the bullish sentiment weakens and selling pressure increases, the SAND token price may plunge towards the support level at $0.56, which could invalidate this bullish view.
FAQ tentang The Sandbox Crypto (SAND)
1. What is the current price of The Sandbox cryptocurrency (SAND)?
The current price of the coiningecko-based cryptocurrency, The Sandbox (SAND) is approximately $0.61 as of November 25, 2024. For the most accurate and up-to-date price information,
2. What is the price prediction for The Sandbox (SAND) cryptocurrency in the future?
Price predictions for The Sandbox (SAND) depend heavily on various factors, including project development, user adoption, and overall cryptocurrency market conditions.
Some analysts are optimistic that SAND could experience price increases if the adoption of metaverses and blockchain-based games continues to increase.
However, it is important to remember that all price predictions are speculative and may change over time.
3. What is a Sandbox Game and how does it work?
Sandbox Game is a blockchain-based gaming platform that allows players to create, own and monetize their own gaming experiences.
In Sandbox, players can create digital assets using the tools provided, interact with other players, and explore the virtual world.
This game integrates elements NFT (Non-Fungible Token), which allows players to own unique assets in the game, such as lands, characters and other items.
Reference:
- SAND Rockets 55% in a Day, Outpaces Market Giants with $1.91 Billion Volume, https://beincrypto.com/sand-token-price-rockets, accessed November 25, 2024
- Sand Token Price, https://www.coingecko.com/en/coins/the-sandbox, accessed November 25, 2024
Author: IN
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.
