The Sandbox price relentless rally is going on as investors wait for the upcoming launch of Metaverse Alpha. The SAND price is trading at an all-time high of $3.93. This is a remarkable rally since the relatively new coin has jumped by more than 2,680% from its lowest level in June.
Metaverse coins jump
The Sandbox is a relatively new cryptocurrency that became popular in October. It is a blockchain project that is in the fast-growing metaverse industry.
The idea behind it is simple. People from around the world can go to the platform and create their virtual world. They will meet other people in the virtual universe and even sell their projects in form of non-fungible tokens (NFT). The platform is relatively similar to Decentraland, another popular metaverse project.
Therefore, Sandbox is at the intersection of two popular trends that are going on today. First, it is at the intersection of metaverse, an industry that companies like Facebook believe is the future.
Second, it is also at the intersection of the gamified industry that has also taken off. Think of products like Roblox and Axie Infinity. Third, it is in the non-fungible token (NFT) industry that is seeing remarkable growth.
In addition to this, the SAND price is soaring as investors wait for the launch of the Mataverse Alpha. This is a major platform in the Sandbox ecosystem that has been in development in the past four years. The ecosystem will be launched on November 29th.
For starters, The Sandbox Alpha is a multi-week pay-to-earn platform where players will get a chance to explore this metaverse universe. The developers said:
“The Alpha Pass is an NFT ticket that will allow players to completely explore the 18 experiences of the Alpha Season content and earn up to 1,000 $SAND and three exclusive NFT rewards.”
In the past, cryptocurrencies tend to rally ahead of a key announcement. For example, Bitcoin price rallied recently ahead of the Taproot upgrade.
Sandbox price prediction
The SAND price has been in a non-stop rally in the past few weeks. During this rally, the coin’s price has managed to move above the key resistance level at $3.45. This was the previous all-time high. It has also moved above the 25-day and 50-day moving average while the Average Directional Index (ADX) has been rising as well.
Therefore, for now, the Sandbox price will likely keep rising ahead of the Alpha launch. However, the price will then retreat in days after the launch. This is known as buying the rumors and selling the news.
