SAND Price Overview
The current SAND price is EUR. The price has changed by EUR in the past 24 hours on trading volume of EUR. The market rank of SAND is based on a market capitalization of EUR. SAND has a circulating supply of . The highest recorded SAND price is EUR. And the lowest recorded SAND price is EUR.
How do SAND price movements correlate with market trends? Check our comprehensive cryptocurrency price page for information at a glance.
The Sandbox (SAND) is a blockchain-based virtual world built on the Ethereum blockchain which is totally created and owned by its players. Users can build, design games, and trade with each other. The game uses two types of non-fungible tokens (NFTs). ASSETS are ERC-1155 tokens which players can create to use in-game, as well as selling them on the marketplace. LAND is an ERC-721 token which represents a piece of the virtual world – users can decorate their LAND with assets or even create full game experiences for other players.
SAND is the main utility token of The Sandbox and is used to buy and sell LAND and ASSETS. Since launching in 2020, the price of SAND has already seen some significant changes, and if you want to know why then you’re in the right place. We’ve compiled everything you need to get a better understanding of SAND price – as well as the factors which influence it.
The Sandbox Price History
The Sandbox (SAND) began trading on 14 August 2020 at its initial coin offering (ICO) price of $0.008. Prices surged immediately, and SAND traded as high as $0.09 on its first day. After falling back to $0.04 a week later, SAND improved slightly to end its first month at $0.07. September began with a dip to $0.03, before consolidating for the rest of the month, mostly in the $0.036 to $0.052 range.
As October started, SAND climbed to $0.055, before spending the rest of the month in decline, falling back to $0.036. In November, SAND managed to make some gains as it climbed back to around $0.05, but prices then fell again at the end of December. SAND finished the year with a value of $0.036, providing 350% returns on its ICO price.
2021 provided more excitement for SAND holders. Over the first three weeks of January, prices steadily improved to $0.05, before a surge of over 100% in a single day took them above $0.10. The rest of January was occupied with a pullback and SAND ended the first month of 2021 with a price of $0.08. The rally resumed in February when SAND reached a peak of $0.38, followed by a retracement to around $0.20.
March was another positive month for SAND, as the coin climbed to its all-time high of $0.91, representing year-to-date gains of 2,450%. At this point, The Sandbox had a market cap of almost $600 million. April then saw a 64% pullback to lows of $0.33, before regaining $0.62 at the end of the month. There was then a peak at $0.74 a few days later, but by mid-May, SAND had fallen back below $0.40.
Analyzing The Sandbox Price History
SAND’s price history can be analyzed with many of the same techniques as stock market analysis. Technical analysis (TA) involves using various indicators while studying price charts in order to make sense of previous price movements. With SAND, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges.
Fundamental analysis (FA), on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. The Sandbox raised its target of $3 million in its ICO and the global market for virtual world games generates huge revenues, while over 40 million players have already downloaded The Sandbox franchise. These could be good signs for the project’s fundamentals.
Broader market trends have also played a role in SAND’s price history. Its surge in the first quarter of 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.
The pullbacks in April and May 2021 were also common across other coins and may have been influenced by the US government’s proposal to increase capital gains tax and bearish sentiment driven by comments from Elon Musk respectively.
The overall price trend of SAND tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.
Factors Influencing The Price of The Sandbox (SAND)
A variety of different things can affect the price of SAND, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider cryptocurrency and global economies.
SAND has a capped max supply of 3,000,000,000, making it a scarce asset like Bitcoin. This means that once all 3,000,000,000 SAND are in circulation, no more will ever be created, and an increase in demand for the token will therefore raise its price.
The main source of demand for SAND will be for spending on The Sandbox platform. It is required to buy the LAND and ASSETS non-fungible tokens, while artists can also use SAND to modify their ASSETS. Creators will spend SAND to upload their ASSETS to the marketplace and players will need the token in order to buy equipment, customize their avatar, and play games.
Additional benefits of holding SAND include the governance rights it provides, enabling SAND owners to vote on key elements such as the distribution of Foundation grants. SAND can also be staked to earn passive revenues on LANDs. 2.5% of all SAND transaction volume goes to rewarding those who stake SAND, which could incentivize more people to buy SAND for staking. Plus, staking SAND is the only way to acquire the valuable Gems and Catalysts needed for ASSET creation.
All these sources of SAND demand will likely be influenced by the number of players the game has. As The Sandbox becomes more widely adopted, demand for SAND will likely increase and boost the token’s price. Game improvements and community engagement could therefore be factors that affect SAND’s value.
Live The Sandbox Value and Market Cap
The live The Sandbox price varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux.
Given SAND’s volatility, its live price can change by a large amount in a very short space of time. The market cap of The Sandbox is equal to the price of SAND multiplied by the number of SAND in the circulating supply.
The Sandbox Price FAQ
What Is the Highest Price of SAND in EUR?
SAND price history shows that SAND has recorded a peak value of EUR.
What Is the Lowest Price of SAND in EUR?
Kriptomat data confirms that EUR is the lowest recorded SAND value.
How Can I Buy SAND?
There’s no need to consult an expert to tell you how to buy SAND. It’s fast and easy to buy SAND at Kriptomat. SAND is available for immediate purchase at the current SAND price quote of EUR. Current prices are always displayed in the SAND chart.
What Is the Current Price of SAND in EUR?
SAND is available for immediate purchase at Kriptomat. The current price is EUR.
How is the price of The Sandbox calculated?
SAND’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying SAND than selling it, the price goes up, and when more are selling than buying, the price goes down.
Why is SAND price different on different cryptocurrency exchanges?
SAND price is based purely on trading as there is no standard global SAND price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affects the price.
What will SAND be worth in the future?
It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of SAND. However, demand for SAND for playing the game, making purchases, and staking should increase in line with the adoption of the game. So as the number of The Sandbox players rises, the price of SAND will likely rise with it.
Since launching in August 2020, the price of SAND has been on quite a journey, going from lows of less than a cent to highs of over $0.90. The price movements haven’t been smooth, however, as SAND’s volatility can lead to surges and crashes.
Many different factors have played a role in determining the price of SAND, including demand for staking and creating, the number of The Sandbox players, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.
If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of The Sandbox and cryptocurrencies!