Market analysis March 11 - March 17 : The Sandbox posts a 19% rally.
The Sandbox has been last week as its price has been predominantly rising. The price swings of SAND pointed to the presence of medium volatility. There has been a rise in the market capitalization of the asset during the period under review. The trading volume on the crypto coin's market has been increasing throughout the reviewed period along with its price.
The unfolding situation in the The Sandbox market suggests that the reviewed digital asset is in the stage of mild volatility. Our comprehensive data indicates that the price change of SAND has been moderate on the back of the average volatility of 10% for the given time period. The coin has hit the highest point of volatility on March 11. The asset's volatility was at its lowest on March 15 when it dropped to 1.3%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.
The Sandbox began the day on March 11 at $0.54, while the broad background was neutral. The first day of price action was marked by the 2% move to the downside from the point where the trading session opened. The 5% move in the upward direction took place on the second day after the weekly open. The price range of The Sandbox formed between $0.54 and $0.62 on March 13 as the price traveled 14% up. The next trading session was characterized by more price action (as SAND made a 5% move) on the back of the consistent trading volume. The developments on the The Sandbox market on March 15 started with the price opening at $0.65 and subsequently moving to $0.59, the close of the day, while dropping to the 24H low at $0.58 and spiking to the 24H high at $0.58. The trading period on March 16 saw the crypto coin forming the price amplitude between the open at $0.58 and the close at $0.59, also interacting with $0.58 (24H low) and $0.58 (24H high). Between the 24H high at $0.64 and the 24H low at $0.59, the coin was traded in the $0.59 - $0.63 price corridor. The asset posted the weekly low at $0.51, while the top of the weekly trading session was registered at $0.66. As a result of price action within the designated time period, the price movement range on the The Sandbox market was established at $0.1 or 19% between the weekly low and the weekly high.
In the period March 11 - March 17, the trading volume of The Sandbox went from $152 852 271 on the first day of the reviewed period to $624 614 855 on the closing day. A more comprehensive analysis of SAND price action requires the comparison of the trading volume between March 11 and March 17 with that from the preceding week that demonstrated how the trading volume fluctuated between $87 942 499 and $256 905 779. The average trading volume of the asset fluctuated by 67% by comparison with the previous period, whereas the price change of 19% took place over the same period of time.
The total market capitalization of The Sandbox during the past 7-day oscillated between $979 982 184, the starting point that was established on March 11, and $1 078 830 617 on March 17, the end date of the reviewed period. SAND experienced a 10% change in total market capitalization throughout the past seven days. As a consequence of the 10% fluctuation in its market capitalization, the price of the coin changed by 19%. During the week before the analyzed time frame, the market capitalization of The Sandbox moved by 16% as it went from $1 154 243 609 to $966 301 065, and gave a better understanding of the general direction in which this market is flowing.