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Highlights
- The SAND token returned gains of over 3121% in the past 12 months.
- The token’s maximum and total supply is three billion.
- The SAND touched an all-time high of US$8.44 in November 2021.
The Sandbox (SAND) crypto token gained traction on Tuesday, rising over 12%, while its 24-hour trading volume increased by more than 13%.
What is Sandbox (SAND) crypto?
Sandbox is a virtual world based on the blockchain that allows users to create, build, and trade digital assets in a game.
Mobile game developer and publisher Pixowl Inc. had launched the token in 2011.
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Its decentralized platform combines the power of decentralized autonomous organizations (DAO) and non-fungible tokens (NFT) for hassle-free gaming activities. According to its whitepaper, it aims to popularize the technology in the mainstream gaming market.
It provides a creative "play-to-earn" model, enabling users to simultaneously create and participate in a game. Its SAND utility token powers the platform for ease of transactions.
Also Read: Crypto market loses US$130 bn in 24 hours as Bitcoin, Ethereum slip
The SAND token is a standard ERC-20 token, meaning its owners can stake and earn staking rewards. Pixowl CEO Arthur Madrid is one of the co-founders of Sandbox.
The token’s maximum and total supply is three billion. The current circulating supply is 922.23 million. It is available for trading on Binance, Uniswap (V2), LATOKEN, etc.
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SAND token price and performance
The SAND token was priced at US$3.02 at 7:42 am ET on January 25, up 12.11%. It has a market cap of US$2.78 billion, and its fully diluted market cap is US$9.04 billion. Its trading volume in the last 24 hours to Tuesday morning was US$871.23 million, an increase of 13.80%.
The SAND token saw the highest price of US$8.44 and the lowest price of US$0.07633 in the last 52 weeks. It logged an all-time high of US$8.44 on November 25, 2021.
Also Read: What is LCX (LCX) token? All you need to know
Bottomline
The SAND token returned around 3121% gain in the past 12 months. However, the overall cryptocurrency market has been volatile lately.
Prices of top cryptocurrencies Bitcoin and Ethereum saw a sharp decline over the past week. Hence, investors should carefully evaluate the market before investing in digital assets.
