SAND Soars 30% Before Unlocking 372.6 Million Tokens

The Sandbox Network will unlock 372.6 million SAND tokens on February 13th – 12.419% of the circulating supply.

Prices were up 30% on the announcement of a “secret partnership” with Saudi Arabia.

According to Glassnode data, after these two announcements, a large number of SAND tokens (about 82 million) were transferred to various exchanges.

Source: Glassnode

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SAND price is currently at $0.86, down 89.5% from its November 2021 all-time high. However, in the past 30 days, the token price has increased by more than 70%, the total market capitalization is about 135 million US dollars, and the total circulation is 1.5 billion SAND.

Source: TradingView

The market value to fair value (MVRV) ratio is a measure of the difference between an asset’s current market value and its fair value. This ratio helps investors determine whether they can make a profit by selling an asset at the current market price.

According to a chart published by Santiment, SAND’s MVRV indicates that sellers can now profit. The MVRV for the past 365 days was 48.60%, while the MVRV for the past 30 days was 12.03%.

Source: Santiment

  • The Sandbox (SAND) recovers but investors worry about the impact of the big unlock
  • Nearly 3% of the total SAND supply has been transferred to Binance


According to Cryptoslate

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