- The Sandbox changed $1.3 million SAND to USDC, with more sales expected.
- SAND’s price fell to $0.442 but another decline to below 0.40 could be possible.
- The MACD and RSI reflected bearish momentum, indicating a likely slide to $0.36.
According to Spot On Chain, four wallets linked to The Sandbox (SAND) team have deposited $41.21 million worth of the token to Binance. The on-chain tracking platform, in its post, noted that the tokens came from the project’s multi-sig wallet.
Out of the tokens sent, $1.3 million SAND has been exchanged for USDC, Coin Edition confirmed. Meanwhile, The Sandbox has scheduled February 14 as the day to unlock more SAND tokens into circulation. At press time price the 205.59 million tokens were worth $90.2 million.
Four wallets linked to @TheSandboxGame deposited 92.94M $SAND ($41.21M) to #Binance ~8hrs ago.These wallets received those tokens from the Sandbox’s multi-signs in the past 1.5 months as a part of unlock.
So far, they have deposited 93.14M $SAND ($41.3M) to #Binance and sold… pic.twitter.com/I5tVBlk5Zl
— Spot On Chain (@spotonchain) February 3, 2024
SAND to Face More Selling Pressure
With the upcoming unl…
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