1 year ago
The Sandbox is 1 of the starring players successful the GameFi space. Its autochthonal token SAND is present going down the nett of ETH whales arsenic the altcoin rally continues into its 3rd week. According to CoinGecko, the token has gone up by 76% successful the past 2 weeks.
ETH whales are besides adding substance to this fire, accumulating SAND and including the crypto connected its top 10 tokens bought successful the past 24 hours. Along with the caller merchandise of Game Maker 0.8, The Sandbox ecosystem is expected to proceed to beryllium a ascendant subordinate successful the GameFi space.
JUST IN: $SAND @TheSandboxGame present connected apical 10 purchased tokens among 100 biggest #ETH whales successful the past 24hrs 🐳
Check the apical 100 whales here: https://t.co/N5qqsCAH8j
(and hodl $BBW to spot information for the apical 5000!)#SAND #whalestats #babywhale #BBW pic.twitter.com/nWQoR6vWNX
— WhaleStats (tracking crypto whales) (@WhaleStats) January 15, 2023
Image: Chain Debrief
More Support From ETH Whales
The whale buying spree has efficaciously pushed the terms of SAND up connected the broader marketplace market. Looking astatine the charts, the token is up astir 80% successful the past 2 weeks. This successful crook made the token trial the $0.7540 terms absorption level.
On apical of the whale buying spree, the merchandise of Game Maker 0.8 surely has an effect connected the token. According to the improvement team’s Medium post, this upgrade brought features that were requested by the assemblage successful the past.
New multiplayer gameplay features, caller lighting and post-processing effects, and the summation of audio and video streaming connected the level volition surely bring much attraction to the level and the GameFi space. With gaming companies noticing the powerfulness of Web3 development, platforms similar The Sandbox volition proceed to emergence successful popularity.
Is SAND Standing On Solid Ground?
As the clip of writing, the token is changing hands astatine $0.7044. With important enactment astatine $0.5015, this whitethorn beryllium capable for SAND to prolong higher highs and higher lows. ETH whales should beryllium careful, however, arsenic a interruption beneath the $0.6327 enactment would hold a imaginable interruption supra $0.7540.
Bitcoin’s existent beardown momentum is being reflected by the token successful the abbreviated to mean word arsenic well. This means that if ever BTC – the world’s biggest crypto plus successful presumption of marketplace headdress – continues its momentous ascent to breach the $21,500 resistance, SAND would spot gains supra $0.8626 which would hitch the losses that occurred erstwhile crypto speech FTX collapsed.
A breakthrough similar this would trigger a bigger rally. However, if the rally is met with resistance, investors and traders should consolidate supra $0.6327 to enactment further bullish question successful the coming days and weeks.
Improvements successful the macroeconomic concern should besides assistance SAND’s terms to unafraid important consolidation levels. With inflation seemingly going down, the ecosystem and SAND would payment from its precocious correlation with Bitcoin and Ethereum.
-Featured image: Screen Rant
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