Will SAND Price Continue its Upward Journey?

The Sandbox is a platform that brings blockchain technology to gaming. 

The gaming industry has a lot of potential for blockchain adoption, and Pixowl saw that in 2011. They created a world where gamers can make and collect blockchain assets – Sandbox. The Sandbox its own place in the global gaming market.

The Sandbox focuses on user-generated content, and it makes a metaverse of active players who help the platform grow. 

The SAND token facilitates decenetralized governance in Sandbox and lets users share their opinions and suggestions for the project. With rapidly evolving technology, decentralized governance is very important for blockchain projects.

The company started well and got support and money from many big names in gaming. These include Atari, Helix and CryptoKitties.

The Sandbox crypto virtual world is on the Ethereum blockchain, and it is safe because of the proof-of-stake (PoS) consensus method. The Sandbox crypto  is a normal ERC-20 token, which means owners can stake it and get rewards for staking.

Unlike the proof-of-work (PoW) consensus method that the Bitcoin blockchain uses, PoS does not need a lot of power or computational power to check transactions. 

It depends on stakeholders who have the most SAND tokens. The PoS consensus method lets many different applications work while still keeping the staked money safe.

The Sandbox has different kinds of tokens for using the platform. SAND is a game money and an ERC-20 token, which means holders can keep and get rewards for keeping. 

SAND is a utility token, so it is needed for doing and helping all kinds of transactions on the platform. 

Also, SAND is a governance token, its holders can vote for changes through the DAO. SAND tokens can be used to buy virtual land, use NFTs, and get benefits.

LAND is an NFT-type token, a digital land piece, that uses an ERC-721 non-fungible token standard on Ethereum. LAND lets users make money from their gaming.

ASSETS are game things, or NFTs, that users make themselves. Voxel models are made with VoxEdit and sold in The Sandbox Marketplace.

Trend Indicator Indicates More Surge Ahead

The Sandbox crypto asset (SAND) is revealing bullish signs and has the capacity to climb higher. It has recorded good results in the previous week, last month, and last quarter, by 70.30%, 28.51%, and 24.95% respectively, signifying a steady upward movement. 

The Sandbox crypto surged by 4.73% in the last 24 hours, and is currently trading at $0.5181.

However, if the demand for the SAND Token stays at peak consistently, the crypto price could continue surge from the current level. The next objective for the SAND price is to reach $0.09000.

However, if the SAND crypto price fails to stay above the $0.06000 level, it could decline further.

The SAND crypto asset is exhibiting bullishness and a great capacity to rise as it holds above major trend EMAs, contingent on the buyers’ surge.

Summary

The EMAs and price movement of Sandbox crypto asset price shows positivity on the chart and it seems the price is poised for another sharp surge.

Technical Levels

Support Levels: $0.06000

Resistance Levels: $0.09000

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.