The Sandbox

The bears stepped up a gear on February 28 - March 6, dropping the price of The Sandbox by 10%.

Between February 28 - March 6, The Sandbox has been mostly bearish as its price has been in the falling mode. The volatility associated with the SAND market was medium, as were its price fluctuations. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.

While the volatility remains restrained, The Sandbox isn't making any explosive moves. The average volatility of 5% was the reason why the price of SAND didn't put up any significant gains. The coin has hit the highest point of volatility on February 28. The asset saw its volatility drop to the lowest level for the given period on March 4 as it shrank to 0.72%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.

SAND made a 1% step in an upward direction during the first daily trading session that took place on February 28. On March 1 the coin market stayed neutral, with no changes in the price. On March 2, the market was moving to the downside as The Sandbox went 2% down from the low at $0.68 to the high at $0.71. The SAND market was down as the price shifted by 7% on March 3, against the backdrop of the sufficient trading volume. March 4 kicked off with The Sandbox trading opening at $0.63 and then closing the session at $0.63, establishing the 24H low at $0.63 and 24H high at $0.66 in the process. The price action on March 5 saw the crypto coin moving along the following route: starting point at $0.62 and closing point at $0.62, while it also deviated to establish the high of the day at $0.64 and the low of the day at $0.61. March 6 presented us with the following price action data: the coin opened the period at $0.63 and went on to establish the low at $0.6 and the high of the day at $0.64 before closing the day at $0.64. Over the course of all trading sessions, the asset established the weekly low at $0.6 while buyers managed to push the price up to the weekly high at $0.71. The Sandbox shaped the $0.07 price range over the week of price action, which constituted the 10% gap between the weekly low and the weekly high.

In the period February 28 - March 6, the trading volume of The Sandbox went from $172 376 362 on the first day of the reviewed period to $87 942 499 on the closing day. In order to have a better grasp of the SAND market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $134 613 804 to $658 262 781. The average trading volume of the asset fluctuated by 50% by comparison with the previous period, whereas the price change of 10% took place over the same period of time.

The past week saw the market capitalization of The Sandbox making a shift from $1 286 999 066 on February 28 to $1 114 267 367 on March 6, the peak for the analyzed period. When translated to percentage rate, the market capitalization of SAND over the past week adjusted by 13%. The price of the coin changed by 10% on the back of the 13% shift in its total market capitalization. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $1 462 422 044 on February 21 and $1 297 066 335 on February 27, which translates to a 11% change.

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Article date: March 6 | February 28 - March 6

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