On chain analyst Lookonchain recently highlighted a significant movement of $SAND tokens.
Specifically, 80.5M $SAND (equivalent to $32.5M) from The Sandbox: Genesis was transferred to Binance, OKX, and Gemini within the last 8 hours. Furthermore, according to @Token_Unlocks, an even larger amount, 332.55M $SAND (valued at $134M), is set to be unlocked in just 3 days. This represents a substantial 16.16% of the circulating supply.
This update follows an earlier observation by Lookonchain where they noticed a transfer of 127M $SAND ($51.32M) from TheSandbox wallets on August 4 The same source, @Token_Unlocks, indicated that 332.55M $SAND ($134.4M) would be unlocked after 10 days, which also accounts for 16.16% of the circulating supply. Such events have historically had significant repercussions.
Reports indicate that the address behind these massive movements, 0x73b, is closely associated with The Sandbox: Genesis address. What’s intriguing is that this address had only received 60 million SAND from Genesis just a week before. This has led analysts, including the famous Twitter analyst Lookonchain, to keep a vigilant eye on the subsequent actions from this address, especially considering the upcoming unlock event.
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