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 worth 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 knowledge.
The Sandbox worth at present sits at $0.90301, down 89.5% from its all-time excessive in November 2021. Nevertheless, over the past 30 days, the token’s worth has surged greater than 70%, with its whole market cap sitting at roughly $1.35 billion, and a complete circulating provide of 1.5 billion SAND.
The Market Worth to Realized Worth Ratio (MVRV) is a measure that exhibits the distinction between the present market worth of an asset and its precise worth. The ratio helps traders decide if they might revenue by promoting the asset at its present market worth.
Based on a chart revealed by Santiment, the MVRV for SAND exhibits that sellers might make a revenue proper now. The MVRV for the final 12 months is 48.60%, whereas the MVRV for the final 30 days is 12.03%.
The submit The Sandbox (SAND) surges forward of token unlock appeared first on CryptoSlate.