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The Sandbox (SAND) Price Slips as $250M Token Unlock Nears


Diane

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The Sandbox (SAND) Price Slips as $250M Token Unlock Nears.PNG

 

Metaverse platform The Sandbox will unlock a swathe of SAND tokens today, and prices are already falling.

 

On Feb. 14 Today The Sandbox will release another block of tokens onto the markets. Furthermore, 372.5 million SAND tokens are scheduled to be added to the circulating supply.

 

This represents around 12.4% of the total supply, so it is quite a sizeable chunk. At current prices, the token unlock is worth around $250 million.

The current unlocked circulating supply of SAND is 1.7 billion tokens representing around 56% of the 3 billion total. As a result, its market capitalization is $1.18 billion.

 

Token unlocks are designed to release locked assets into the crypto market over a set period of time. This process aims to align incentives for all stakeholders. However, it often causes short-term volatility and price dumps.

 

This has been the case for previous Sandbox unlocks.

 

 

 

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