• Lookonchain shared in a tweet this morning that blockchain firm Hashed lately despatched hundreds of thousands of SAND to Binance.
• On the time of writing, SAND was price round $0.5506 following a 1.01% worth improve.
• SAND has been buying and selling flat for a while, however technical indicators advised bullish momentum on the weekly chart.

Analytics platform Lookonchain shared in a Twitter put up this morning that blockchain builder Hashed lately transferred hundreds of thousands of The Sandbox (SAND) tokens to exchanges. In line with the put up, the corporate despatched a deposit of 23.13 million SAND price $12.9 million to Binance.

In the meantime, in keeping with CoinMarketCap, SAND skilled a worth improve of 1.01% over the previous day, making it price round $0.5506 on the time of writing. In consequence, SAND was buying and selling between a day by day excessive of $0.5598 and a 24-hour low of $0.539.

Altcoin worth features have pushed them up about 1.33% and 0.77% towards two market leaders, Bitcoin (BTC) and Ethereum (ETH) respectively. Add to this the day by day efficiency of the cryptocurrency, which additional elevated the weekly efficiency to +6.90%.

In the meantime, SAND’s 24-hour buying and selling quantity fell by 59.05% to $78,413,698. Its market cap is $1,021,203,767, which means SAND ranked because the forty third largest cryptocurrency when it comes to market cap.

From a technical standpoint, altcoin worth volatility has been flat for the previous few months. On the time of writing, SAND is buying and selling under the 20-week and 50-week EMA strains, which was a bearish signal.

Nonetheless, the shorter 20-week EMA line was making an attempt to interrupt out of the 50-week EMA line. If this cross happens throughout the subsequent few weeks, it would sign a protracted entry for swing merchants. Along with the 2 key EMA strains threatening to cross, the weekly RSI line was additionally on the verge of bullishly crossing the weekly RSI SMA line.

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