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SAND Metaverse Token Reached $3 Billion in Transactional Volume in Last 24 Hours

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Fri, 12/03/2021 - 10:46
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Arman Shirinyan
The Sandbox gaming metaverse token, SAND, faced a rapid trading volume increase that almost reaches $3 billion
SAND Metaverse Token Reached $3 Billion in Transactional Volume in Last 24 Hours
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After a mindblowing 700% growth on the market, Sand metaverse token went through a rapid transactional volume increase that almost reached $3 billion, according to Watcher.Guru.

Previously, U.Today reported that widely-known NFT supporter and celebrity rapper Snoop Dog built a mansion inside the Sandbox Metaverse. The overall rise in the popularity of the token was followed by the rapid growth of GameFi and Metaverse.

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According to whale tracking services, large investors are also interested in metaverse tokens like Sand, with total holdings among whales reaching $160 million. The total trading volume increase has totaled 50%.

The price action could not follow the rapid trading activity on the token and has been continuously moving in the range-bound since its most recent ATH reached on Nov. 25.

SAND Daily Chart
Source: TradingView

The Sandbox is a virtual reality project that utilizes blockchain technology for the gamification of the interaction process with cryptocurrencies or tokens. The project combines DAO principles and NFT technology to create a unique decentralized gaming platform experience.

According to the project, Sandbox is looking forward to introducing blockchain to the mainstream via implementation of the technology inside of the gaming industry and creating a successful "play-to-earn" model.

The SAND token that faced large funds inflows and rapid market value rise is being actively used inside the ecosystem as the utility token for bot creators and gamers.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.