Sandbox has seen a decline in transaction volume and sales volume over the past 30 days. SAND has benefited from positive investor sentiment since the start of the new business year. Declining gradually over the past month, the number of transactions in the metaverse based on the platform The Sandbox [SAND] hit its lowest point in the last 30 days, data from DappRadar showed.
Where did the sandbox go? As of January 8, the number of daily transactions in the global game metaverse is 58. This is a 117% decrease from the 126 transactions made 30 days ago. In addition to the decrease in transactions, the number of weekly active users who visited the Sandbox during the period fell by 24.9%, according to data from DappRadar.
In addition, with sales of $6.44 million made in the last 30 days, the sales price at The Sandbox has decreased by 50%. Interestingly, during the same period, the total trust value of Sandbox’s smart contract assets increased by 76% during the reporting period.
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So far, the gods have favored Sandbox
Following the general recovery trend in the general cryptocurrency market, the value of SAND has increased by 37% since the beginning of the year. In fact, in the last seven days, the value of the metaverse token has increased by 29%, according to data from CoinMarketCap.
The increase in demand for SAND since the beginning of the year has led to increased network activity for metaverse tokens. According to data from Santiment, SAND has seen an increase in the number of active addresses per day and new addresses created per day since the beginning of the year.
With 1,338 addresses as of December 8, the number of addresses actively selling SAND since January 1 jumped 82% in just one week. Likewise, the number of new addresses created per day in the network has increased by 183%.
It is well known that the increase in network activity for cryptocurrency is associated with an increase in resources, which can increase its value. In addition, the open interest of SAND has been on the rise since the beginning of the year, data from Coinglass revealed. At $55.43 million at the time of reporting, SAND’s open interest has jumped 28% year over year.
The accumulation and open interest of the property is a critical sign, because it shows the emergence of new entrepreneurs in the market that opens up new situations. Or it could mean that existing investors are adding to their current position. In any case, an increase in open interest can also be a sign of increased liquidity in the market.
