The Sandbox Price Up By 15.98% – Time To Buy SAND Coin?
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- The Sandbox is among the top gainers as the crypto market rebound, and investors are in the market to buy SAND
- The Sandbox announces multiple Hong Kong partnerships to build a megacity in the Metaverse
- The protocol introduces a new collection of NFT shoes to explore the Metaverse
The Sandbox, one of the leading players in the metaverse ecosystem, has seen a huge inflow of funds. The 24-hour trading volume of the Sandbox is up by 18.26% to over $1.24 billion, showing that investors are keen to buy SAND.
SAND has a market cap that is in excess of $4.78 billion, up 15.98%, and this indicates that the digital asset enjoys some huge backing from many investors.
The Sandbox Rise From The Ashes To Join The Top Gainers As Crypto Market Rebounds
The crypto market has rebounded, gaining 6.10% in the last 24 hours to be valued at $2.07 trillion. The nascent crypto market has been on a downtrend at the start of 2022, even going below the $2 trillion mark.
The downtrend that engulfed the market affected a lot of digital assets, with the Sandbox being one of the worst-hit. The token well-known for virtual world games brought the $4.8 support and traded below $4.5 earlier this month.
The Sandbox has been one crypto asset with a significant price gain as the crypto market recovers. If SAND can sustain this rally, we might just see the digital asset set new record highs.
The Sandbox Enter Multiple Hong Kong Partnerships To Build A Megacity In The Metaverse
The Sandbox made headlines when the blockchain protocol sold virtual real estate for a huge amount of money. Popular American pop star, Snoop Dogg was one of the individuals that purchased a piece of land on the Sandbox metaverse.
Following the protocol’s success last year, The Sandbox has entered into an agreement with partners in Hong Kong to build a megacity on the metaverse.
The Hong Kong partners have been selected from diverse fields, including film, music, entertainment, acting, finance, real estate, and gaming.
These partners have already bought pieces of land on the Sandbox metaverse and have promised to build unique experiences in the megacity.
The sale of virtual lands will commence on Thursday, January 13, 2022. Those intending to buy lands will need both SAND and Ethereum (ETH), which will serve as gas fees.
The Sandbox Introduces A New Collection Of NFT Shoes
A new collection of non-fungible token (NFT) shoes have been added to the Sandbox virtual world with which users can explore the metaverse. The collection of NFT shoes became available on January 8th in the NFT marketplace.
To win these unique NFT shoes, gamers will play a game called ‘the shoemaker crater, the search for the lost sole’. Gamers will complete puzzles and fight other obstacles on their way while in search of a pair of shoes lost long ago when the comet struck.
The first 400 winners will receive limited-edition boots not available anywhere else on the primary market.
Technical Analysis Of SAND – SAND On A Bullish Run
SAND is trading below the 20-day exponential moving average price of $$5.23. The relative strength index (RSI) 48.49 shows the digital asset is trading in the underbought region, offering investors an opportunity to enter the market and buy SAND.
The 78.6% Fibonacci level is a good entry point for investors, and they can ride the market and take profit at the 38.2% Fibonacci level ($5.42). This has a price opportunity gain of 59.88%.
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