SAND Price Surges 30% Ahead of Token Unlock Event

• The Sandbox (SAND) token is set to unlock 372.5 million tokens on Feb. 13, 2021.
• The announcement of a „mysterious partnership“ with Saudi Arabia has driven the price up by 30%.
• The Market Value to Realized Value Ratio (MVRV) for SAND shows that sellers could make a profit right now.

The Sandbox (SAND) Token Unlock

The Sandbox will unlock 372.6 million SAND tokens — amounting to 12.419% of the circulating supply — on Feb. 13, 2021. This is expected to have an impact on the cryptocurrency’s price and market capitalization, as well as its overall supply and liquidity in exchanges.

Mysterious Partnership With Saudi Arabia Drives Price

The news of this upcoming token unlock comes amid a surge in the price of SAND due to an announcement of a „mysterious partnership“ between The Sandbox and Saudi Arabia. Exchange inflows surpass outflows, with 82 million SAND tokens being moved from wallets into exchanges following the two announcements according to Glassnode data.

Current Status Of The Sandbox Network

At present, The Sandbox’s current market cap stands at approximately $1.35 billion with a total circulating supply of 1.5 billion SAND tokens . Its price currently sits at $0.90301 and it has surged more than 70% over the last 30 days from its all-time high in November 2021 of 89%.

Market Value To Realized Value Ratio

The Market Value to Realized Value Ratio (MVRV) measures the difference between an asset’s current market value and its actual value and helps investors determine if they could profit by selling their asset at its current market price or not . According to Santiment, the MVRV for SAND suggests that sellers could make a profit right now — with its MVRV for the last 365 days being 48% while that for the last 30 days being 12%.

Conclusion

At press time, The Sandbox is ranked #43 by market cap and its 24-hour trading volume is around $990 million , while its price is up 23% over past 24 hours . It remains to be seen how much impact this upcoming token unlock will have on these figures but investors should keep an eye out for any further developments regarding this mysterious partnership with Saudi Arabia .