SAND Price Prediction: Unlocks and Inflows Point to Profits Ahead

  • The Sandbox saw an influx of nearly 82 million tokens into exchanges in recent days.
  • The upcoming token unlock event might be a motivating factor for the increase in price.
  • According to metrics, The Sandbox is overvalued and this presents an opportunity for sellers to make profits.

Recent Inflow of SAND Tokens

The Sandbox witnessed close to 100 million tokens entering various exchanges in recent days. This could be due to the upcoming token unlock event that might have motivated investors to sell their tokens. Moreover, The Sandbox [SAND] has seen a significant increase in value at the start of 2023, but its price movement has slowed down recently.

NetFlow Indicator & Exchange Flows

A review of several crucial indicators revealed that some major events regarding the game token might take shape. According to the NetFlow indicator and data collected from Glassnode, it was observed that there was more inflow than outflow; with nearly 82 million tokens transferred by investors onto different exchanges for selling purposes.

Zig-zag Price Movement on SAND

As per analysis done on a daily timeframe of The Sandbox’s [SAND] performance, it was noted that there were high lows being formed. At press time, SAND had gained 1%, trading at $0.71 while having dropped 8% prior to the session. Despite this bull trend being weak as per RSI line (just over 50), there were certain concerns raised due to the drop and massive influx into exchanges.

Token Unlocks & Profitability