The price of the SAND token has grown by 90% since the beginning of the year

The Sandbox project will unlock 12% of the SAND token supply, equivalent to $273 million, to seed and strategic investors on February 14, according to Token Unlock, with half of the 12% going to investors, according to a Kaiko Research report. At first glance, SAND’s price curve for January looks impressive, with a 90% gain since New Year’s Eve pushing SAND’s price up to just over $0.70, well ahead of overall market trends.

Metaverse tokens such as SAND, ApeCoin (APE), and Axie Infinity (AXS) have been hit hard in late 2022, with recovery starting from low levels. Sandbox, for example, is still 91% below its all-time high, which was recorded in November 2021 at $8.40.

Assessing the future prospects of the SAND token, crypto analyst Conor Ryder points to February 14 as a key date in a recent report. Ryder notes that after a similar token unlock in August 2022, there was a massive sale of SAND for several days, which had a noticeable negative impact on the price curve.

Image: Binance Academy