The Sandbox (SAND) sank to $4.94 this week, after a relatively long period above $5. SAND shed 10% from its price, following the overall market weakness. Play to earn tokens are also affected by the Bitcoin (BTC) crash down to $43,000.
SAND is currently at a higher price tier compared to the beginning of Q3, 2021. Can SAND hold onto a valuation above $3 in the coming weeks?
SAND Price Prediction: New Developments
The Sandbox game has opened its alpha version to early LAND token owners. The Sandbox game, however, continues with new plot offerings, mostly powering its marketing campaign.
The Sandbox is the most widely traded virtual world, with land plots holding a base price of 3.54 ETH on OpenSea.
SAND Price Prediction: Will the Bear Market Affect This Game
The Sandbox has felt the pressure where the overall collection of play to earn items lost a part of its market cap. The market expanded to a valuation of $30B in 2021, but crashed to a total of $24B.
For now, it is uncertain whether the value of NFTs can prop up the play to earn market and specifically SAND. The value of Ethereum (ETH) is also undermining the NFT market. ETH crashed to $3,462.47, dragging down related tokens and ecosystems using it for liquidity.
SAND Price Prediction: Unlocked Tokens Further Pressure Price
The Sandbox treasury may continue with scheduled token unlockings. A sell-off may be expected, given SAND is still way above $4 and much higher than its valuation during the initial token sale.
SAND has peaked above $8 during the October rally, and hovered above $5. SAND has shown it can correct rapidly, though it has not erased all gains since the start of the rally form under $1.
SAND Price Prediction: Will Network Growth Save the Project
Like many other assets, SAND trades on bearish sentiment. Around half of SAND buyers are out of the money. At the same time, The Sandbox project shows modest growth in network usage.
Despite a fluctuating market price, SAND is a token with holding incentives. When it comes to in-game usage, a cheaper SAND may become a tool for wider adoption. The Sandbox game aims to grow in 2022 and may add players and features even with pressures from a bear market.
