SAND has seen a decrease in supply on exchanges after initial spikes. SAND’s price movement has been mixed as MVRV hits negative. The Sandbox [SAND] investors are still figuring out where the token is headed as 20% of the total SAND supply was unlocked on 14 February. Additionally, the token supply to exchanges significantly increased […]
After the last token unlocks in August, the price fell by the end of September. The Sandbox was trading at roughly $0.9 on August 13 and 14, but by September’s end, it had dropped to roughly $0.6. The daily time frame of the chart allowed for the observation of a further drop.on a daily time frame. The trend lines, however, indicated that a drop had taken hold, and that there had been a downward trend.
was down a few days as of this writing but was currently trading at around $0.7, up over 3%.The chart also showed that the short Moving average was on the verge of crossing the long Moving average . This is known as a “golden cross,” which frequently signals the impending start of a significant price movement. The Relative Strength Index will cross the neutral line with the golden cross, sparking a bull trend for The Sandbox.
’s price action and exchange supply appear favorable. A panic sale, however, might send the price tending downwards, and we could be on the approach of repeating the past. Especially considering how the 30-day Market Value to Realized Value has shown a negative trend., the next unlock event will take place in August 2023.Subscribe to get it daily in your inbox.
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