Sandbox surges ahead of token unlock

1 year ago

The Sandbox web volition is acceptable to unlock 372.6 million SAND tokens — amounting to 12.419% of the circulating proviso — connected Feb. 13.

The quality comes amid a 30% surge successful terms driven by the announcement of a “mysterious partnership” with Saudi Arabia.

Exchange inflows surpass outflows

A important measurement of SAND tokens — astir 82 cardinal — has been moved to assorted exchanges pursuing the 2 announcements, according to Glassnode data.

Yje Sandbox Net Transfer Volume from/to Exchanges [SAND] - All Exchanges (Source: Glassnode)

The Sandbox terms presently sits astatine $0.90301, down 89.5% from its all-time precocious successful November 2021. However, implicit the past 30 days, the terms of the token has surged much than 70%, with its full marketplace headdress sitting astatine astir $1.35 billion, and a full circulating proviso of 1.5 cardinal SAND.

The Market Value to Realized Value Ratio (MVRV) is simply a measurement that shows the quality betwixt the existent marketplace worth of an plus and its existent value. The ratio helps investors find if they could marque a nett by selling the plus astatine its existent marketplace price.

According to a illustration published by Santiment, the MVRV for SAND is showing that sellers could marque a nett close now. The MVRV for the past 365 days is 48.60%, portion the MVRV for the past 30 days is 12.03%.