The market crumbled last week (March 1 - March 7) as The Sandbox lost 13%.
The analysis of last week’s price action shows that the The Sandbox market is in the bearish phase since the price has been moving downward. The price swings of SAND pointed to the presence of medium volatility. The price action on the coin's market translated to the decline of market capitalization. The price action of the crypto coin last week took place on the back of decreased trading volume.
The unfolding situation in the The Sandbox market suggests that the reviewed digital asset is in the stage of mild volatility. Given that the average volatility on the SAND market didn't exceed 5%, the price action remained limited. The highest point of the coin's volatility reached 6.75% in the analyzed time frame. The asset's volatility was at its lowest on March 5 when it dropped to 0.72%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 5%.
There were no gains or losses to the SAND market on March 1, it remained flat. The market sentiment on March 2 stayed bearish as the coin obtained another 2%. The Sandbox posted the interim low at $0.62 on March 3 and then moved down by 7% and peaked at $0.69. On March 5, SAND market moved by 1% in the bearish direction in concert with the trading volume. After the open at $0.62, The Sandbox moved during March 5 in the range between the said open and the close at $0.62, having posted the 24H low at $0.61 and the 24H high at $0.64. On March 6, the crypto coin showcased the following price fluctuations: the trading session began at $0.63 and then traveled from the low of the day at $0.6 to the high of the day at $0.64, closing at $0.64. Between the 24H high at $0.64 and the 24H low at $0.61, the coin was traded in the $0.63 - $0.61 price corridor. The price action on the asset's market during the period between March 1 and March 7 topped at $0.71, while the bottom of the price range was established at $0.6. The difference between the lowest and the highest price points for the week was 13%, as the price moved in the $0.09 wide corridor.
The trading activity on the The Sandbox market over the past week - March 1 to March 7 - generated the average trading volume that went from $141 696 298 to $167 485 213. During the week before March 1, the trading volume of SAND flowed from $134 613 804 to $399 292 169. The 35% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 13%.
The past week saw the market capitalization of The Sandbox making a shift from $1 234 464 622 on March 1 to $1 134 529 900 on March 7, the peak for the analyzed period. The percentage change in the total market capitalization of SAND amounted to 8%. When compared to the price fluctuations during the observed period of time, the 8% market capitalization movement was accompanied by a 13% change in the price of the coin. During the week before the analyzed time frame, the market capitalization of The Sandbox moved by 7% as it went from $1 378 098 126 to $1 286 999 066, and gave a better understanding of the general direction in which this market is flowing.