The Sandbox

Slightly bearish : traders witnessed The Sandbox moving down 5% from February 24 till March 2.

The bearish behavior of The Sandbox last week was characterized by the occurrence of downswings. The volatility of SAND has been low throughout the reviewed period in correspondence with the price action. The asset saw its market capitalization falling over the reviewed period together with its price. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.

The analysis of events on the The Sandbox market shows that the cryptocurrency under review is experiencing a period of low volatility. The insignificant movement of the SAND market came as the result of low average volatility that amounted to 1%. 4.66% was the maximum volatility that the coin managed to showcase on February 28. The weakest volatility level of 1% on the asset's market was registered on March 1. The low volatility of 1% means that the crypto coin is weak and incapable of any sizable price swings.

The bears were dictating the terms on the The Sandbox market on February 24 - the trading session opened at $0.76. The price of SAND took a 5% down downswing at the open of the weekly trading period. The price action of the coin remained bearish on February 25 as the bears pushed the price down by 4%. On February 26, the market was moving to the upside as The Sandbox went 4% up from the low at $0.68 to the high at $0.72. On February 28, SAND market moved by 3% in the bearish direction in concert with the trading volume. After the open at $0.7, The Sandbox moved during February 28 in the range between the said open and the close at $0.71, having posted the 24H low at $0.69 and the 24H high at $0.71. No changes were observed on the crypto coin's market on March 1. The coin found the deepest trough (24H low) at $0.68 on March 2 and then exploded to the ceiling (24H high) at $0.71; the price range for that day was between $0.7 and $0.68. $0.68 was the bottom of price action for the week, though the price went to the high extreme at $0.76 over the same time period. The price action on the weekly time frame made The Sandbox within the 5% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.04.

As for the average trading volume in the time slot between February 24 and March 2, the The Sandbox market registered the change from $174 912 134 to $137 917 323. We can draw the comparison with the period of 7 days that preceded the reviewed one when SAND ’s trading volume varied from $202 539 880 to $658 262 781. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 58%, and the 5% price shift.

The change in the total market capitalization of The Sandbox from February 24 to March 2 was as follows: on February 24, the capitalization was at $1 371 303 849, while on March 2, it reached the level of $1 275 455 478. Percentage-wise, the market capitalization of SAND has shifted by 7% in the past week. When compared to the price fluctuations during the observed period of time, the 7% market capitalization movement was accompanied by a 5% change in the price of the coin. A more precise analysis of the The Sandbox market also requires a comparison with the change in market capitalization from the week before, which amounted to 6% on the back of the move from $1 277 206 393 to $1 356 167 863.

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Article date: March 2 | February 24 - March 2

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