en.bitcoinsistemi.com
Four wallets linked to The Sandbox Game developers deposited 92.94 million $SAND altcoins to Binance, equivalent to $41.21 million. The transaction was made at a price of $0.443 per $SAND.
The price of the altcoin is trading at $0.4415 at the time of writing this article.
These wallets have been active for the last 1.5 months, receiving a total of 138 million $SAND from the Sandbox team's multi-sig wallets. So far, they have deposited 93.14 million $SAND ($41.3 million) on Binance and two days ago sold 1.3 million $SAND for 566,000 USDC at an average price of $0.435.
In addition to these transactions, The Sandbox Game will unlock 205.59 million $SAND worth $90.2 million on February 14, 2024. This amount represents 9.19% of the circulating supply and will be allocated to the team, advisors and company reserve according to the token unlock program.
Historical data shows that the $SAND price tends to move with the market during token unlock events. It appears to rise in a rising market and fall in stagnant or bearish conditions.
*This is not investment advice.