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The Sandbox Network will unlock 372.6 million SAND tokens (representing 12.419% of the circulating supply) on February 13th.
The news comes amid a 30% surge in prices following the announcement of a “mysterious partnership” with Saudi Arabia.
After the two announcements, a significant amount of SAND tokens (around 82 million) moved to various exchanges, according to Glassnode data.
![sandbox net transfer volume to/from exchanges [SAND] - All exchanges (source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/02/glassnode-studio_the-sandbox-net-transfer-volume-from-to-exchanges-sand-all-exchanges-1024x576.png)
The sandbox price is currently $0.90301, down 89.5% from its all-time high in November 2021. However, over the past 30 days, the token’s price has surged by over 70%, bringing its market cap to around $1.35 billion. And a total circulating supply of 1.5 billion SAND.
![Trading View The Sandbox [SAND] (Source: TradingView)](https://cryptoslate.com/wp-content/uploads/2023/02/Screenshot-2023-02-08-at-11.42.43-AM.png)
Market Value to Realized Value Ratio (MVRV) is a measure of the difference between an asset’s current market value and its actual value. This ratio helps investors determine whether they can profit from selling an asset at the current market price.
According to a chart published by Santiment, SAND’s MVRV shows that sellers can start making profits right now. The MVRV for the last 365 days is 48.60% and the MVRV for the last 30 days is 12.03%.
The proliferation of sandboxes (SAND) prior to token unlocking first appeared on CryptoSlate.
