Trades executed by the largest Ethereum (ETH) whales always attract the attention of crypto enthusiasts. This time, ETH Whales have bought more than $24 million worth of Sandbox (SAND) tokens in the past 24 hours. However, the price of SAND has fallen by almost 3%. It seems whales are just accumulating the dip.
SAND token enters list of top coin purchases in last 24 hours
According to WhaleStats, two Ethereum whales named azog and BlueWhale0069 added 6,620,000 SAND (about $22.97 million) and 510,603 (about $1.76 million), respectively. This move sent Sandbox token to the list of the top 10 tokens bought by the largest ETH wallets in the past 24 hours. Where it ranks fourth. Azog also added $1.25 million worth of 699,999 Enjin Coin to his wallet.
Data shows that whales have been collecting the coin for a long time. The SAND easily reached the list of top tokens bought in the past 7 and 30 days. Meanwhile, the token can also be seen in the count of the most sold coins in the last 24 hours, 7 and 30 days.
The largest of the ETH portfolios holds $186.67 million worth of SAND tokens. It only makes up 1.76% of their total assets. FTX token is still the largest token of the Ethereum whales. They own over $1.8 billion worth of FTX tokens.
However, it is important to note that top ETH whales also contain more Decentraland (MANA) than SAND. MANA is a large competing Metaverse platform against SAND. Whales have over $332 million worth of MANA tokens.
SAND joins forces with Ledger
Recently, The Sandbox announced its partnership with Ledger, a hardware crypto wallet. The team aims to build a secure Metaverse by increasing security, education, and support for users. Ledger is reportedly going to build a hub in the Sandbox.
The SAND token is trading at an average price of $3.45 at press time. The coin is down 4% in the past 7 days. According to CoinMarketCap, the Sandbox is the 39th largest cryptocurrency with a total market cap of over $3.9 billion.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
About the author
Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he plays video games, watches a thriller or participates in outdoor sports. Reach me at [email protected]
This post ETH Whales Add Over $24 Million in Sandbox (SAND) Token
was published first on https://coingape.com/eth-whales-add-over-24-million-worth-of-sandbox-sand-token/