Token

The Sandbox

Billion

Partner

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 <p><a rel="noopener noreferrer nofollow" title="The Sandbox" href="https://thebittimes.com/tag/the-sandbox.html">The Sandbox</a> will unlock 332 million <a rel="noopener noreferrer nofollow" title="SAND" href="https://thebittimes.com/tag/sand.html">SAND</a> tokens, worth $133 million, on Monday, Aug. 14, which represents more than 16% of its circulating supply. Token unlocks are usually bearish as they introduce new liquidity to the market, and <a rel="noopener noreferrer nofollow" title="SAND" href="https://thebittimes.com/tag/sand.html">SAND</a>’s token unlock might have already begun having an impact on the asset’s price.</p> 
 <p>The Sandbox is currently down 5.4% in the monthly charts and by 5.9% in the last two weeks. The token has been on a bearish trend since February of this year. Although we did see a bit of a trend reversal in mid-June, the situation reversed once again in July, and the token has been on the downtrend once again.</p> 
 <p><strong>Also Read: Meta’s Metaverse Division Loses $3.7 Billion in Q2</strong></p> 
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 <p>However, this is not the first time <a rel="noopener noreferrer nofollow" title="SAND" href="https://thebittimes.com/tag/sand.html">SAND</a> has fallen ahead of a token unlock. A similar trend was seen prior to the February token unlock. Moreover, last August’s airdrop led to a 20% price drop in just six days after the unlock.</p> 
 <p><a rel="noopener noreferrer nofollow" title="SAND" href="https://thebittimes.com/tag/sand.html">SAND</a> currently faces resistance at about $0.45, with support at $0.38. Furthermore, this price level does not have a lot of volume. Therefore, this adds another reason for possible volatility ahead.</p> 
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  <img decoding="async" width="1024" height="555" src="https://cdn.thebittimes.com/images/2023/08/11/e9d812a8fccbfe897748c05fc904b4b7.webp" alt="" class="wp-image-106530" srcset="https://cdn.thebittimes.com/images/2023/08/11/e9d812a8fccbfe897748c05fc904b4b7.webp 1024w, https://cdn.thebittimes.com/images/2023/08/11/e9d812a8fccbfe897748c05fc904b4b7.webp 300w, https://cdn.thebittimes.com/images/2023/08/11/e9d812a8fccbfe897748c05fc904b4b7.webp 768w, https://cdn.thebittimes.com/images/2023/08/11/e9d812a8fccbfe897748c05fc904b4b7.webp 1536w, https://cdn.thebittimes.com/images/2023/08/11/e9d812a8fccbfe897748c05fc904b4b7.webp 380w, https://cdn.thebittimes.com/images/2023/08/11/e9d812a8fccbfe897748c05fc904b4b7.webp 550w, https://cdn.thebittimes.com/images/2023/08/11/e9d812a8fccbfe897748c05fc904b4b7.webp 800w, https://cdn.thebittimes.com/images/2023/08/11/e9d812a8fccbfe897748c05fc904b4b7.webp 1160w, https://cdn.thebittimes.com/images/2023/08/11/e9d812a8fccbfe897748c05fc904b4b7.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source: SAND/USDT Chart by Trading View 
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 <p>Furthermore, according to IntoTheBlock, large transactions for The Sandbox (SAND) have fallen by 4.15%. Given that 90% of SAND tokens are held by large wallets, this might be a warning signal. IntoTheBlock also noted that a whopping 95% of SAND holders are currently at a loss. A mere 3% of holders are in profit, while 2% are even.</p> 
 <h3 class="wp-block-heading" id="h-is-the-sandbox-doing-something-to-check-sudden-volatility">Is The Sandbox doing something to check sudden volatility?</h3> 
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  <img decoding="async" width="1024" height="802" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Sandbox SAND token" class="wp-image-73266 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp.webp 300w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp.webp 768w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp.webp 380w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp.webp 550w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp.webp 800w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp.webp 1040w" data-srcset-img="https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 1024w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 300w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 768w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 380w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 550w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 800w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 1040w" data-eio="j"> 
  <noscript> 
   <img decoding="async" width="1024" height="802" src="https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp" alt="Sandbox SAND token" class="wp-image-73266" srcset="https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 1024w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 300w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 768w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 380w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 550w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 800w, https://cdn.thebittimes.com/images/2023/08/11/3f245127de2f57fb62f077700b5b2164.webp 1040w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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  <figcaption class="wp-element-caption">
    Source: Wallpaperflare.com 
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 <p>Short answer: yes, the project is taking some steps to counter the shock. About a week ago, 60 million <a rel="noopener noreferrer nofollow" title="SAND" href="https://thebittimes.com/tag/sand.html">SAND</a> tokens moved from the Sandbox Genesis contract. This indicated that the unlocking process has already started. Uncle Grumpy, who is <a rel="noopener noreferrer nofollow" title="The Sandbox" href="https://thebittimes.com/tag/the-sandbox.html">The Sandbox</a>’s Discord Ambassador, said that this was a way to avoid system shock.</p> 
 <p><strong>Also Read: The Sandbox, Saudi Arabia Partner to Foster Metaverse Initiatives: SAND up 30%</strong></p> 
 <p>According to TokenUnlocks, half the tokens will go to the team and company reserves. Additionally, The Sandbox’s advisors will receive around $15 million worth of tokens. The rest goes to those in strategic and seed sales. Moreover, these groups can now sell their positions for the first time.</p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>SAND</li> 
  <li>The Sandbox</li> 
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</div>

The Sandbox Slides 5.9% Ahead of $133 Million Token Unlock

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TheBitTimes

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