SAND’s price dropped 20%, trading at $0.6061, with a 19.54% fall in the market cap.
The Exchange flow balance rose by 162%, indicating heightened selling activity.
The Sandbox (SAND) recently reached a yearly high of $0.86. However, the price has dropped 20% in the past 24 hours, now trading at $0.6061. Its market cap has fallen 19.54% to $1.47 billion, while trading volume plunged 59.37% to $2.06 billion. The volume-to-market cap ratio stands at 141.22%, signaling intensified activity despite the decline.
Dormant tokens are entering the market, with the age-consumed metric spiking to a two-month high of 33.19 billion, according to Santiment. Additionally, the exchange flow balance surged by 162% in 24 hours, indicating a higher movement of SAND tokens to exchanges, potentially for selling. These metrics confirm increased bearish sentiment in the market.
SAND’s Battle at Key Support
SAND currently trades below key support at $0.61, as per the technical chart. The 9-day
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