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In a recent tweet, crypto analyst Ali Martinez expressed optimism about The Sandbox (SAND), stating that SAND surpassing $0.55 offered a bullish opportunity. Emphasizing a clear path ahead with no significant resistance, Ali Martinez suggested that SAND has the potential to ascend further.
Additionally, the renowned analyst pointed out that the subsequent crucial resistance barrier is situated between $0.90 and $1.35, noting that 23,000 addresses collectively held 447 million SAND at this level.
#TheSandbox above $0.55 presents a bullish opportunity! With a clear path ahead and no major resistance, $SAND could aim higher.
— Ali (@ali_charts) December 25, 2023
The next critical resistance wall is between $0.90 and $1.35, where 23,000 addresses hold 447 million #SAND. pic.twitter.com/7vdS98DFTG
As of the latest data, SAND is currently priced at $0.6077, reflecting an impressive surge of 11.30% in the last 24 hours. The trading volume of SAND has also experienced a substantial increase, rising by 205.72% in the same period and reaching $411,451,794.
This notable uptrend in The Sandbox's value is attracting attention from investors and analysts alike, with analyst Ali anticipating a potential breakthrough beyond the $1.35 mark. This analysis highlights a positive outlook for SAND, underscoring a clear upward trajectory.
Exciting developments for The Sandbox
Adding to the positive sentiment surrounding The Sandbox, the platform made a significant announcement on Dec. 23. In a statement, The Sandbox announced that it was initiating the year 2024 with a new GMF model and dedicated rewards for the Engagement Pool.
This follows the Global Creators Day event held in Hong Kong on Nov. 3, during which The Sandbox disclosed its plan to allocate 100,000,000 SAND for all creators. This generous allocation is set to be distributed through the GMF (Game Maker Fund).
To further incentivize creators, The Sandbox is introducing an initial Kick-off Builders Challenge. A dedicated SAND pool, soon to be announced, will be made available for creators with the most engaging experiences published in The Sandbox. This marks the beginning of the Engagement Pool, the first step in the 2024 GMF model.
Looking ahead, The Sandbox plans to closely link the GMF to the Sandbox DAO (decentralized autonomous organization) later in the next year. This strategic move aims to enhance the platform's governance structure and provide creators with more opportunities and incentives for their contributions.
With these developments, The Sandbox continues to make significant strides in both its value and ecosystem, making it a focal point for investors and enthusiasts alike. The platform's commitment to fostering innovation, coupled with its user-centric initiatives, positions The Sandbox as a dynamic player in the crypto sphere.