Transactions made by the biggest of Ethereum (ETH) Whales always grab the attention of crypto enthusiasts. This time ETH whales have gone on to buy over $24 million worth of Sandbox (SAND) tokens in the last 24 hours. However, SAND’s price is down by almost 3%. Seems like Whales are just accumulating the dip.
SAND token enters list of top coin purchases in last 24 hrs
According to WhaleStats, Two Ethereum whales named Azog and BlueWhale0069 have added 6,620,000 SAND (approx $22.97 million) and 510,603 (approx $1.76 million), respectively. This move has sent Sandbox token to the list of the top 10 tokens bought by the largest ETH wallets in the last 24 hours. Where it stands at the fourth spot. Azog has also added $1.25 million worth of 699,999 Enjin Coin to its wallet.
Data depicts that whales are accumulating the coin for a long time. The SAND easily made it to the list of top tokens purchased in the past 7 and 30 days. Meanwhile, the token can also be seen in the tally of most sold coins in the last 24 hours, 7, and 30 days.
The largest of the ETH wallets holds $186.67 million worth of SAND tokens. It makes just 1.76% of their total holdings. FTX token is still the largest token held by the Ethereum whales. They hold over $1.8 billion worth of FTX tokens.
However, it is important to note that top ETH whales also hold Decentraland (MANA) in high proportion than SAND. MANA is a big competing Metaverse platform against SAND. Whales hold over $332 million worth of MANA tokens.
SAND join hands with Ledger
Recently, The Sandbox announced its partnership with Ledger, a hardware crypto wallet. The team aims to build a secure Metaverse by increasing security, education & support for users. It is reported that Ledger will be building a hub in the Sandbox.
The SAND token is trading at an average price of $3.45, at the press time. The coin has been on a decline by 4% in the last 7 days. According to CoinMarketCap, the Sandbox is the 39th largest cryptocurrency with a total market capitalization of over $3.9 billion.
Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Source: https://coingape.com/eth-whales-add-over-24-million-worth-of-sandbox-sand-token/