|

Sandbox price consolidates, analysts predict further drop in price

  • Sandbox has entered multiple partnerships in preparation to create a “megacity” in the metaverse. 
  • Sandbox has collaborated with over 165 partners and institutions to unveil its metaverse. 
  • The metaverse project is preparing for a new land sale on January 13, 2022. 
  • Analysts have predicted further consolidation in Sandbox price as the metaverse token plunges. 

Sandbox is one of the major GameFi projects that posted over a thousand percent in gains in the last quarter of 2021. Analysts have predicted further losses in the metaverse project. 

Sandbox price could continue downtrend

After posting massive gains in the last quarter of 2021, the GameFi token Sandbox is on a downtrend. 

The project has entered into partnerships with multiple brands like The Walking Dead, Snoop Dogg, Adidas, CryptoKitties, Atari, Care Bears, The Smurfs, PWC, Hong Kong, and the South China Morning Post. 

The Sandbox has announced the launch of the Megacity region. The virtual world’s announcement of the new region would mark the beginning of the official sale of land early next week. The announcement reads,

To celebrate the new partners, The Sandbox will launch a new LAND sale on January 13, 2022, that will allow players to purchase choice sports near the LAND’s of the partners announced today.

Analysts have noted that Sandbox was launched in a bear market, and the altcoin offered investors over 400 times. @LadyofCrypto1, a crypto analyst and trader, notes that not all bear markets are alike; however, projects like Sandbox, Axie Infinity, Rune have offered between 400 to 2000 times returns. 

@MacnBTC, an analyst and trader, predicted a huge unlock around January 13, 2022. The analyst explains that this could negatively impact the GameFi token’s price. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000. ASTER, NIGHT, and ENA risk further losses as selling pressure mounts and risk-off sentiment spreads across the crypto market.

Ethereum Price Forecast: BitMine acquires 102,259 ETH as price plunges 5%

Ethereum (ETH) treasury company BitMine Immersion scaled up its digital asset stash last week after acquiring 102,259 ETH since its last update. The purchase has increased the company's holdings to 3.96 million ETH, worth about $11.82 billion at the time of publication.

Strategy scoops about $1 billion in Bitcoin for second consecutive week

Bitcoin (BTC) treasury and financial intelligence firm Strategy expanded its holdings following another round of weekly accumulation.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.