Sandbox’s native token, SAND, is used for transactions in the Sandbox metaverse. This includes digital land purchases and interaction with user-generated content.
- Sandbox began as a partnership between Pixowl & developer Onimatrix
- SAND is available on Binance’s platform and was recently listed by Binance
- As of press time, the token was trading at $0.86
Sandbox has the ability to offer the best possible gaming experience through SAND.
Sandbox was released as a mobile title in 2012. It began as a collaboration between Pixowl, Onimatrix and developers.
Six years later in 2018, Pixowl was acquired by Animoca. They announced plans to use blockchain technology to build a 3D world, take advantage of token economies and create user-generated content.
Sandbox held an Initial Coin Offering in August 2020. It was able raise $3 Million that was used to fund its future operations.
SAND Now Available on Binance
Binance U.S.A. as well as Sandbox confirmed SAND’s listing by the cryptocurrency exchange.
It showed significant price movements and responded positively. SAND currently trades at $0.8644 according to CoinGecko’s tracking.
Current price is greater than October 4, the date of announcement regarding the listing, which was $0.83.
SAND’s slump, which had been on a downtrend for some time, was lifted with this new development.
Many indicators like Awesome Oscillator, (AO), and Relative Strength Index(RSI) signal a bullish sentiment for the Sandbox token.
For the $1 mark, rally
The crypto community is already anticipating the next steps after the historic gaming event.
The daily timeframe trend lines show a support level at $0.807, as the SAND failed to exceed the $1.011 resistance mark for most of September. Because of that failure, SAND’s resistance lowered a bit to $0.90.
Chart: TradingView.com
In the crypto space, the resistance level refers to the point at which an asset’s price has difficulties increasing.
However, the potential rally towards $1 could still be at risk. If SAND can break out of the trading range it is currently in, then there’s a good chance that it will achieve its goal.
This goal can be achieved by increasing the amount of buying activity, now that the asset is Binance-listed and has more buyers.
Featured image from Cryptopolitan, Chart: TradingView.com| Featured image from Cryptopolitan, Chart: TradingView.com