Sandbox (SAND) Prices Jump Over 10%; Here’s Why

The top Metaverse tokens have registered a major drop since the beginning of May. However, The Sandbox (SAND) has decoupled from the recent market sentiments. The SAND has managed to surge by over 18% in the last 7 days which is the highest among the top metaverse tokens.

SAND’s 24 hr trading vol up by 220%

SAND tokens 24 hour trading volume has skyrocketed by more than 220% to stand at $1.05 billion. A lot of things have worked in the favor of the token to record this surge amid the Volatile market. Earlier, Coinbase, U.S’s largest crypto exchange, dropped the news that it will be considering listing the SAND token.

Coinbase finally listed the SAND token on its platform. The Sandbox price has jumped by around 10% in the last 24 hours. The token is trading at an average price of $1.39. The token is the 3rd largest Metaverse digital asset with a total market cap of over $1.7 billion.

In another big move, the PCCW and HKT have landed in the virtual land of the Sandbox. The two telecommunications giant has bought lands in Mega City. As per the release, the companies will be launching the world’s first virtual 5G mobile network in the virtual world. With this, they will be adding TV and music content in the Web 3 form of entertainment.

Metaverse Tokens 24 hr trading vol jumps by 40%

The Sandbox has informed that PCCW and HKT will also initiate financial technologies and e-commerce solutions in an order to raise a ‘meta Community’. This partnership will help the Honk Kong based companies to explore new business opportunities. Earlier, Sandbox announced that legendary singer, Elvis Presley has entered their Metaverse. Susanna Hui, MD of PCCW said that PCCW and HKT were trying to get into innovative technology applications.

Meanwhile, the Metervse category tokens haven’t performed well in the past month due to the market crash. Its total market capitalisation has dropped to $13.6 billion. However, Metaverse tokens 24 hour trading volume has surged by 40% to stand at $3.9 billion.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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.