The cryptocurrency market is taken aback by a sand storm. As a majority of the digital assets lose out on their value. While cryptos catering to the metaverse segment lead the space in greener numbers. The announcement from Facebook of its foray into the metaverse space has brought immense value to the segment.
Consecutively, as a result, the digital assets in connection with the metaverse have flourished exponentially. The Sandbox is on a war-footing momentum to disrupt the space. As the crypto aims at running at the forefront in the virtual world.
Is The Sandbox Chugging Ahead Of Its Rivals?
The rise of the gaming industry is a known fact to masses with an avid interest in technology. Crypto proponent mentions that there are over 3.2 billion games around the globe. An average gamer spends between $100 to $200 per year on gaming. Which has resulted in several cryptos competing to get their due share.
The Sandbox is one of the prominent players in the space. And its native token SAND has surged following the announcement by Facebook of its push towards Metaverse. The Sandbox has been contributing immensely to the NFTs. And the platform has also received major fundings. The trade volumes of The Sandbox have also been on a constant rise lately.
Catalysts Fueling The Sandbox’s Rise
The rise of crypto’s uptrend has been astonishing for several traders and investors in the space. The crypto proponent mentions the following catalysts that have played a vital role in the platform’s growing prominence.
a) NFTs have been of pivotal importance, as it caters to the booming metaverse. And the NFTs need to be traded with SAND, which imparts a greater value.
b) The crypto ranks among the top-100 with a mid-sized market cap. This means it takes less capital to influence the price of SAND to surge higher.
c) Robust tokenomics of SAND is another major catalyst.
d) Strong technicals of the protocol, could help the digital asset surge higher.
e) The roadmap of the platform, which includes the launch of NFT avatars, De-Fi staking on layer-2, play-to-earn initiatives, and the launch of layer-2 dual-chain solutions on MATIC. Together might fuel the growth this Q4.
SAND Price Marching Towards The Moon
The digital asset at press time is trading at $3.37 marking profits of 28.9% since the last 24-hours. While the market cap is around $3,058,862,581, the trade volumes are at $4,195,998,498. According to some reports, SAND is the 7th most traded asset today. And it has also ranked the first position by Alt Rank™, over the last 24-hours on Lunar Crush.
The digital asset had hit $3.63 a couple of hours ago, traders and investors are aiming for SAND to go 2X. Owing to the immense potential of the crypto and the Metaverse. Sandbox Alpha is launching on the 29th of November, which will run for 3-weeks until the 20th of December. Initiatives like these will further propel the protocol to greater heights.