Every time one of Ethereum’s (ETH) largest whales makes a transaction, the crypto community notices. There has been more than $24M worth of SAND tokens bought by people who own a lot of ETH within the past 24-hours. On the other hand, the price of SAND has dropped by nearly 3 percent. Whales appear to be compounding the downturn.
SAND Joins Leading 24-hour Cryptocurrency Transactions
When looking at WhaleStats, ETH whales BlueWhale0069 and Azog have invested 6,620,000 SAND (about $22.97M) and 510,603 SAND (around $1.76M). It has pushed SAND into the top ten most popular Ethereum in the previous 24 hours, according to the leading Ethereum wallets. It is now ranked fourth. Besides that, Azog has deposited 699,999 Enjin Coins, worth $1.25M, in its wallet address.
According to the data, people are known as “whales” who keep the coins for a long time. The SAND was right there if you looked at the leading tokens people bought in the last seven and thirty days. Nevertheless, SAND appears in the list of the top-selling coins during the last 24-hours, seven days, and thirty days.
SAND coins worth $186.67M are held in the greatest of the Ethereum wallets. It only accounts for 1.76 percent of their overall assets. The ETH whales’ most valuable token remains the FTX coin. They have FTX coins valued at nearly $1.8B. The top ethereum whales likewise hold MANA in a greater percentage than SAND. MANA is a primary Metaverse system that competes with SAND. MANA coins are worth around $332M to ETH whales.
Ledger and SAND are Teaming Up
The Sandbox just revealed a collaboration with Ledger, a manufacturer of hardware cryptocurrency wallets. By strengthening security, training, and assistance for customers, the team hopes to create a safe Metaverse. According to reports, Ledger would be constructing a center in Sandbox.
The Sandbox token has a valuation of about $3.45. The token has lost 4 percent of its value in the last seven days. If you look at CoinMarketCap, it says that the SAND token is currently the 39th most popular token, with a value of more than $3.9B.
Utilizing NFTs and its utility coin, called $SAND, gamers can build and own their games and make money from them in a digital space. Player-created non-fungible tokens can be used in games using the maker for the Sandbox Game and sold on the marketplace for a profit.
Within the Sandbox digital space game system, SAND would let players build, play, possess, rule, exchange, and profit. The ERC-20 tokens would power the Sandbox metaverse as its primary medium of exchange. Holders of SAND can engage in administration choices. Those who own SAND could vote for themselves, or they can give democratic rights to others of their preference.