Will The Sandbox (SAND) Token Unlock Send the Price Down?

• The Sandbox changed $1.3 million SAND to USDC, with more sales expected.
• SAND’s price fell to $0.442 but another decline to below 0.40 could be possible.
• The MACD and RSI reflected bearish momentum, indicating a likely slide to $0.36.

According to Spot On Chain, four wallets linked to The Sandbox (SAND) team have deposited $41.21 million worth of the token to Binance. The on-chain tracking platform, in its post, noted that the tokens came from the project’s multi-sig wallet.

Out of the tokens sent, $1.3 million SAND has been exchanged for USDC, Coin Edition confirmed. Meanwhile, The Sandbox has scheduled February 14 as the day to unlock more SAND tokens into circulation. At press time price the 205.59 million tokens were worth $90.2 million.

SAND to Face More Selling Pressure

With the upcoming unl…

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