|

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:

Editor's Picks

Ethereum Price Forecast: Long-term holders' capitulation drives ETH below $1,800

Ethereum has fallen below $1,800 on Wednesday, the first time since May 2025 following accelerated spot selling pressure and distributions from long-term holders.

XRP and XLM outlook: Bearish streak extends as risk-off mood erodes retail demand, ETF flows

Ripple and Stellar prices face intense selling pressure, extending losses on Thursday for the fourth consecutive day this week. Cross-border remittance tokens are losing retail sentiment, while XRP faces additional pressure from Exchange-Traded Fund outflows. 

Bitcoin drops below $65K amid reinforced bear market signals

Bitcoin dipped further below $65,000 with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean.

Grayscale launches Hyperliquid staking ETF, undercutting rival fees

Grayscale announced the launch of its Hyperliquid Staking ETF (HYPG) on Wednesday, now trading on Nasdaq. The fund offers investors direct exposure to HYPE and incorporates staking rewards, which the company claims have historically ranged from 2.2% to 2.3% annually.

Billions in ETF outflows don’t bode well
Bitcoin (BTC) remains under pressure, trading below $74,000 on Friday, and is set to post its third consecutive week of losses. The institutional sell-off continues, with spot BTC Exchange-Traded funds (ETFs) recording billions in outflows. In addition, sticky inflation and macroeconomic headwinds suppress the Crypto King’s upside potential. Institutional demand continues to weaken so far this week.