Coin Bureau Predicts The Sandbox (SAND) To Rally 2x In Coming Weeks

According to Guy, the pseudonymous host of Coin Bureau Ethereum-based gaming token The Sandbox (SAND) is going to continue its uptrend in the weeks to come.

In a recent video session, the crypto analyst shared with his 1.62 million subscribers on YouTube that SAND could become the biggest gaming cryptocurrency on the market.

The Sandbox is Ethereum-based virtual world that allows fans of video games to build, own and monetize their gaming experiences. SAND is the utility token used throughout The Sandbox ecosystem as the basis of transactions and interactions

At the time of writing SAND is the 54th-largest digital asset by market cap, and trades at $3.62. It has grown 57% over the past 7 days, but Guy believes SAND still has has room to grow.

“SAND seems to be pretty overextended, but it’s not crashing nearly as quickly as I expected. In fact, it looks like its uptrend is scheduled to continue.

This is for a few reasons: First, NFTs. As I mentioned a few moments ago, NFTs from the Sandbox are some of the most traded of any NFT collection. Many of these purchases are being made in SAND, which creates demand.”

The show host also points out that due to SAND’s mid-sized market cap, it takes less cash to push up the price relative to larger metaverse cryptos such as Axie Infinity’s AXS.

He also says that SAND’s token economics are on a solid ground.

“SAND has a maximum supply of 3 billion, its initial and current distribution is solid, and its vesting schedule is evenly spread out.

Now that said, it’s worth pointing out that we are approaching another vesting cliff that’s set to begin in December. This will see another 300 million SAND unlocked and potentially sold on the open market. The last vesting cliff happened back in July and it seems to have suppressed the price of SAND around that time. This means we could see the same thing happen again come December 1st.

Now, even so, SAND’s technicals are looking good, and that’s the fourth reason why it might continue moving to the upside. If my measurements are correct, we could see SAND rally by 2x in the coming weeks, assuming the rest of the crypto market doesn’t crash, of course.”