Guy, The host of crypto YouTube channel Coin Bureau notes one Ethereum gaming altcoin ready to make some moves.
Furthermore, In a new video, Guy explains to his 1.62 million YouTube subscribers. Then, mentions Sandbox (SAND), saying it can become the biggest gaming cryptocurrency on the market.
More so, SAND is the native token for The Sandbox on Ethereum, a virtual world that allows fans of video games to build. Also, own and make money from their gaming experiences.
Notably, SAND is the 63rd-ranked crypto asset by market cap and it’s currently trading at $3.36 at time of writing.
Additionally, Guy believes the gaming altcoin can still spike some more.
“SAND seems to be pretty overextended, but it’s not crashing nearly as quickly as I expected…”
“In fact, it looks like its uptrend is scheduled to continue.”
So, Guy explains further.
“This is for a few reasons: First, NFTs. As I mentioned a few moments ago,…”
“NFTs from the Sandbox are some of the most traded of any NFT collection…”
“Many of these purchases are being made in SAND, which creates demand.”
More so, Guy also explains that SAND’s mid market cap signals it will take less cash to make it go up. Of course, when relative to larger metaverse cryptos such as Axie Infinity’s AXS.
Notably, Guy also debates that SAND’s tokenomics are “robust.”
“SAND has a maximum supply of 3 billion, its initial and current distribution is solid,..”
“and its vesting schedule is evenly spread out.”
Additionally, Guy adds.
“Now that said, it’s worth pointing out that we are approaching another vesting cliff that’s set…”
“to begin in December. This will see another 300 million SAND unlocked and potentially sold on the open market…”
So, Guy continues.
“The last vesting cliff happened back in July and it seems to have suppressed the price of…”
“SAND around that time. This means we could see the same thing happen again come December 1st.”
Lastly, Guy concludes.
“Now, even so, SAND’s technicals are looking good, and that’s the fourth reason why it might…”
“continue moving to the upside. If my measurements are correct, we could see SAND…”
“rally by 2x in the coming weeks, assuming the rest of the crypto market doesn’t crash, of course.”
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