Hashed deposit of 18.45 million SAND to Binance alerts a doable sell-off.
The Sandbox (SAND) worth, which has risen by 32.6% over the week, has dropped 4.1% at the moment.
The important thing ranges to look at are the assist at $0.31 and the resistance at $0.3627.
The Sandbox (SAND) has been capturing consideration within the cryptocurrency market, with its worth climbing 32.6% over the previous week to $0.3517.
Regardless of this spectacular achieve, the token has confronted a 4.1% decline within the final 24 hours.
Including to the market dynamics, crypto funding agency Hashed not too long ago deposited 18.45 million SAND tokens, valued at roughly $6.3 million, to Binance.
Hashed(@hashed_official) deposited 18.45M $SAND($6.3M) to #Binance 2 hours in the past.
Hashed is excellent at shopping for low and promoting excessive—simply final month, they withdrew 11.36M $SAND($2.9M) from #Binance at $0.26. Since then, $SAND is up 35%.https://t.co/NbfRQu5wf2 pic.twitter.com/LYmx4WQxkG
— Lookonchain (@lookonchain) Might 13, 2025
This vital transaction has sparked discussions amongst merchants and analysts about its potential influence on SAND’s worth trajectory.
Current SAND worth actions
Over the previous 24 hours, SAND has traded between $0.337 and $0.3706, reflecting the inherent volatility within the cryptocurrency market.
Regardless of the latest dip, the token has proven resilience, with a outstanding 32.6% enhance over the previous seven days, transferring from a low of $0.2641 to a excessive of $0.3679.
a broader timeframe, SAND has gained 17.4% over the past 14 days and 33.2% over the previous month, indicating a powerful upward development.
Nevertheless, it’s value noting that over the previous yr, the token has decreased by 16.7%, highlighting the cyclical nature of cryptocurrency investments.
Affect of Hashed’s strategic token motion
Notably, at the moment’s SAND transaction, valued at round $6.3 million, follows a strategic withdrawal by Hashed final month.
On April 10, 2025, at 3:00 PM UTC, Hashed withdrew 11.36 million SAND tokens from Binance when the value was $0.26, totalling $2.9 million.
Since then, SAND’s worth has appreciated by 35%, reaching $0.35 earlier than the latest deposit.
Immediately’s deposit of such a lot of SAND to Binance might sign that Hashed is getting ready to promote, which could put downward strain on the value.
That is particularly related given the elevated buying and selling quantity noticed after the deposit.
Instantly after the deposit, buying and selling exercise surged, with quantity on the SAND/USDT pair leaping to over 25 million SAND within the subsequent hour.
This was considerably increased than the earlier 24-hour common of 15 million SAND.
The heightened exercise means that merchants are reacting swiftly to the information, presumably anticipating a worth motion.
From a technical perspective, the Relative Energy Index (RSI) is at 64 after briefly getting into the overbought area on the each day chart, suggesting that whereas SAND has been on an upward development, it’s at the moment cooling off in anticipation of the following transfer.
The MACD can be signalling a retracement with a declining histogram and the MACD and sign traces converging.
If the value falls beneath the assist at $0.31, we might witness a retest of the assist at round $0.27.
Nevertheless, if the $0.31 assist holds and the resistance at $0.3627 is damaged, the token might regain its bullish momentum, propelling it in direction of $0.41.
Nevertheless, it’s vital to notice that the broader cryptocurrency market has been experiencing combined sentiments, which might affect danger urge for food for belongings like SAND, though metaverse and gaming tokens, together with SAND, have been gaining traction not too long ago, pushed by renewed investor curiosity in digital actuality tasks.
Keeping track of buying and selling volumes, technical indicators, and broader market sentiments will likely be essential for these seeking to capitalise on or hedge in opposition to potential worth swings within the coming days.
