Why SAND’s ‘investors’ interest’ need is more vital than Ledger’s ‘security’
Ledger and The Sandbox announced a partnership on 4 April. Well, through this partnership, Ledger will be providing security support for the Metaverse. Ledger, known for its hardware wallets, is considered to be one of the most secure systems for crypto investors. Thus, it is anticipated that this partnership will raise investors’ confidence in The Sandbox.
However, at the moment, security is not the issue with The Sandbox. The problem is a lack of interest. At the beginning of this year, The Sandbox observed 25.5k new accounts, which shot up to 35.9k in February.
But from March onwards, new investors seemed hesitant to join the network. Consequently, SAND witnessed only a little over 23k people jump into The Sandbox.
The Sandbox monthly accounts | Source: DeFi Llama – AMBCrypto
One could blame it on the stalled price action, which has been stuck in the same 4% range, with the upper and lower limits being at a difference of $0.2.
And, this cannot change unless the market observes a sudden kickstart to the rally. At the moment, the broader market is in a cool-down state after several coins breached into the overbought zone earlier this week.
The Sandbox price action | Source: TradingView – AMBCrypto
Plus, in the case of The Sandbox, it seems even more difficult since its volatility appears to be dying down.
Usually, that is a good sign for investors since price swings remain under control. But since SAND needs the opposite of that right now, slightly higher volatility could place it just in the right spot to witness a rise.
However, even if investors do return to trade SAND, one can’t be sure how much they’ll be willing to participate in the Metaverse since LAND sales and prices have been deteriorating with every passing
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