Connect with us

Bitcoin

Price of Sandbox (SAND), up 40% in anticipation of the upcoming game release, and possible partnership with Adidas

The Sandbox (SAND), price has risen 121% over the past 7 days, and 40% within the last 24 hour. It is one of the few cryptos that has remained bullish despite the current dip in the crypto market. The recent price increase is due to the highly anticipated Sandbox alpha release on November 29th, and…

The Sandbox (SAND), price has risen 121% over the past 7 days, and 40% within the last 24 hour. It is one of the few cryptos that has remained bullish despite the current dip in the crypto market.

The recent price increase is due to the highly anticipated Sandbox alpha release on November 29th, and potential partnership with Adidas.

What is Sandbox

?

Sandbox, a blockchain-based metaverse that allows players to buy land plots and build them according to their wishes, is unique. It is one of the most popular metaverse coins in crypto.

Sandbox has received investments from large companies such as Softbank, which has invested $93 millions in the project. The project has also been embraced by Binance and Coinmarketcap, two of the most prominent crypto platforms.

Many of these platforms and companies have purchased plots of Sandbox land in anticipation of its release.

Why is the SAND price rising?

The current price rise in SAND can be attributed two major events.

One is the highly anticipated alpha release for the Sandbox game, which will be available on November 29th.

The other is a possible partnership between Adidas and the sandbox. Adidas tweeted the news, indicating a possible partnership with the Sandbox.

The tweet stated that

“adiVerse anyone? What should we build, together in @TheSandboxGame?”

It has been liked 1.5k times and 450 reposted.

Partnerships between mainstream brands are the ideal catalyst for the Bull Run. Many iconic brands have joined the movement.

With more powerful brands establishing partnerships to leading crypto brands we expect extreme bullish momentum in crypto markets’ valuations.

It is great to see major brands, such as Death Row Records, launch an NFT drop at Crypto.com. Also Crypto.com’s $700million purchase of the naming rights for LA’s biggest arena. This opens up crypto to other companies and allows them to start exploring how blockchain technology can benefit their products.

Read More

Continue Reading
Advertisement I show You how To Make Huge Profits In A Short Time With Cryptos!
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Bitcoin

Former Coinbase Business Developer: ‘There Wasn’t a Long-Term Case for Bitcoin Payments’

Nick Tomaino, a former business developer and marketing lead at Coinbase, explained how the idea of bitcoin for payments gradually lost its relevance in the market. Tomaino detailed that Coinbase rode this premise back in 2014 to raise $125 million in two funding rounds, but it was quickly clear that there was not a case [……
Read More

Continue Reading

Bitcoin

Japanese Corporation Metaplanet Acquires More Bitcoin, Stock Price Soars

Metaplanet, a publicly traded corporation on the Tokyo Stock Exchange, has announced an investment of 23.351 bitcoins, with an average purchase price of 10,706,180 yen per BTC, totaling 250 million yen ($1.6 million). The company now holds 141.0727 bitcoins, with an average purchase price of 10,278,391 yen per BTC…
Read More

Continue Reading

Bitcoin

BTC slips amid poor debut for Hong Kong spot ETFs

Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading. Data showed trading volumes hit just over $11 million, against expectations of over $3oo million. Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading…


  • Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading.
  • Data showed trading volumes hit just over $11 million, against expectations of over $3oo million.

Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading for much hyped spot Bitcoin and Ethereum ETFs in Hong Kong.

BTC was down about 1.4% at the time of writing, having touched lows of $61,587 across major crypto exchanges.

The benchmark cryptocurrency, which has struggled to reclaim key levels since its recent halving event, was seeing a 24-hour trading volume of $28.4 billion.

Bitcoin price and Hong Kong spot ETFs debut

Earlier, Bitcoin price surged to above $64,000 as the six spot Bitcoin and spot Ethereum ETFs went live in Hong Kong.

The flagship cryptocurrency rose to over $64,727 on US-based crypto exchange Coinbase. BTC also soared after reports Hong Kong approved the listing of the ETFs.

NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn

— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024

However, as data streamed in showing disappointing trading volumes and inflows, Bitcoin price took a hit. According to details of the six ETFs’s debut day, total trading volume reached just $11 million, not impressive given projections were much higher at over $300 million.

Bitcoin ETFs saw about $8.5 million while Ethereum ETFs recorded just $2.5 million on the first day. Ethereum price fell to $3,040.

Notably, the figures from Hong Kong are way lower compared to those recorded amid the enthusiasm that greeted the launch of spot Bitcoin ETFs in the US in January. On their debut, the US spot BTC ETFs raked in over $4.6 billion in trading volume.

The start to trading for the ETFs has not helped BTC price and BTC could face a slide under the $60k level if sentiment flips negative. On the upside, resistance at $65k remains critical and a breakout could see the bellwether digital asset soar towards its recent peak.


Share this article

Categories

Tags

Read More

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.