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.

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