Mass Exodus? $32.5M in SAND Moved Out of Wallets Ahead of Unlock Event

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.

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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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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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