The Sandbox is Going to Zero as the SEC Deems SAND to be a Security but This New AI Crypto Signals Platform May Be the Next Crypto to Explode – Here's Why
SAND, the native token that powers The Sandbox’s decentralized crypto, non-fungible token (NFT) and blockchain-powered metaverse, took an absolute beating last week.
When it hit fresh lows for the year just above $0.33 per token, the crypto token had lost a stunning nearly 50% of its value in less than seven days.
Ultimately, SAND ended the week with losses of around 35% in the $0.38 area, the cryptocurrency’s worst week since January 2022.
The catalyst for the downside was the US Securities and Exchange Commission (SEC)’s classification of SAND as a security in its lawsuit against Coinbase and Binance.
If the SEC’s lawsuits are successful, SAND will face significantly higher regulations in the US, which effectively makes it likely that crypto platforms won’t want to offer the token, meaning SAND may lose demand from one of the world’s most important markets.
But technical selling also played a role in SAND’s demise.
Sell pressure last week was exacerbated by SAND finding strong resistance at a downtrend from the 2023 highs and its 200-Day Moving Average in the $0.60 area.
SAND may now fall all the way back to its June 2021 lows in the $0.15 area.
Investors looking for a better shot at near-term gains might want to consider getting a hold of some of viral new AI-powered crypto price prediction platform yPredict’s native $YPRED token, which many industry experts are predicting may be the next best performer.
Indeed, analysts at Cryptonews.com rank yPredict’s presale as one of the hottest of 2023.
A ground-breaking new AI-powered crypto trading and market intelligence platform called yPredict is building a first-of-its-kind, institutional-grade crypto price prediction system.
According to observers, the tool, which is powered by
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