Blockchain analytics firm Santiment says the metaverse altcoin The Sandbox (SAND) is getting more attention after whales moved a large amount of tokens to Binance.
According to Santiment, interest The number of sandboxes has increased as three addresses moved 78 million SAND tokens (worth $56 million) to the world’s largest cryptocurrency exchange.
The transaction caught the attention of Lookonchain, a Twitter account that tracks blockchains.
“Another asset in the spotlight right now is SAND after $56 million was transferred to Binance.”
santimento To tell Long-time holders of SAND appear to be selling profitably after prices have largely stagnated recently.
The analyst firm predicts that the sale will drive the price of SAND down, but it could rebound afterward.
“Once the dumping starts it will sell fine and the dumping will accelerate.
At the time of writing, The Sandbox is valued at $0.93, up nearly 30% from yesterday’s high of $0.72.
Santiment also states that two artificial intelligence (AI) blockchain projects, SingularityNET (AGIX) and Fetch.ai (FET), are at the top of trending cryptocurrency topics.
santimento To tell These projects are benefiting from a broader growing interest in AI.
“The AI hype stays here with us.”
The FET is valued at $0.52 at the time of writing and has nearly doubled in price this week. AGIX is trading at $0.56 at the time of writing, up about 250% from his weekly low of $0.16.
santimento To tell Interest in cryptocurrencies across the board peaked as the market appeared to bottom out during the week of December 14, 2022. But they say interest remains long after the first rally of the year is over.
“The overall volume of cryptocurrency discussions taking place on social platforms remains high after peaking in the week of December 14, 2022. Bitcoin is still up 66% from its all-time high in November 2021. %, but the growing interest in cryptocurrencies is clear.”
Santimento too To tell Smaller Bitcoin (BTC) holders appear to be re-engaging in the King crypto market, demonstrating traders’ optimism.
“Since FOMO, about 620,000 small bitcoin addresses have been resurrected on the network. [fear of missing out] It came back on January 13th when the price was back at $20,000. These sub-0.1 BTC addresses grew slowly in his 2022, but trader optimism is returning in 2023. “
Bitcoin is worth $23,255 at the time of writing.
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