SAND: LAND sales to transaction volumes, here’s everything ailing the token

ambcrypto.com:

For many traders, it’s enough to just be able to buy and sell coins and tokens. However, there are others out there who want to build entire worlds. The Sandbox [SAND] meant to cater to the latter category. Now, Messari’s 2022 Q1 report on the asset reveals how high the project could go – and how hard it could fall.

At press time, the ERC-20 metaverse token was changing hands at $2.88, after rising by 2.20% in the past 24 hours but falling by 4.08% in the past week. Messari’s report showed that while LAND primary sales were up, secondary sales fell by more than 50% when compared to the last quarter. A sobering picture, indeed.

Primary LAND sales volume ($16 million) accounted for only 12% of the marketplace LAND sales volume ($136 million) in Q1 2021. pic.twitter.com/hWyFPBRsMC

— Messari (@MessariCrypto) April 13, 2022

However, the report added this could be due to the metaverse craze cooling down and said,

“The market is merely finding its equilibrium, and demand for LAND remains healthy despite the buying frenzy of Q4 2021.”

A look at the exchanges can tell us more about what investors are doing with SAND this quarter. For starters, exchange data revealed that SAND supply was gradually dropping again, after a vertical spike in early February. At press time, less than 445 million SAND was in the exchanges.

Source: Santiment

So who’s doing the buying? Firstly, a lot of whales, as the spikes in transactions worth above $100,000 show. However, these have been tapering off in the past few days as SAND’s price rises again.

Source: Santiment

Messari’s report wasn’t all praise for The Sandbox, however. The research firm pointed out