ETH whales favor The Sandbox amid favorable YOY NFT revenue growth. SAND experiences extended demand despite being overbought. The Sandbox just earned its way into the list of most used smart contracts among the top 100 ETH whales in the last 24 hours. But is this an indicator that the metaverse network is experiencing more […]
This has all taken place mostly during the bear market. Expectations are higher especially now that the crypto market has shifted gears in favor of the bulls.
Perhaps the renewed interest from ETH whales is an indicator that it is already happening. An overview of The Sandbox’s NFT trades volumes confirms a healthy performance in the last six months.While SAND enjoyed healthy demand as far as land and other NFTs on its platform are concerned, it was not all rosy in other areas. For example, its market cap dropped off sharply in the past six months. This performance is more representative of the overall bearish market conditions.
The Sandbox’s market cap has, however, enjoyed a healthy recovery in the last three weeks. This reflects on which has been recovering since the start of this month. SAND is currently up by almost 118% from its current 12-month low. It is now approaching the 200-day MA but is already overbought.There are signs suggesting that we may start witnessing potential bull trend weakness. For example, the supply held by top addresses saw a bit of a surge at the start of this month, but it dropped off sharply since 19 January. This suggests that the top addresses or whales are cashing out after the recent rally.
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Ethereum [ETH] metric sees correction: Hopes of a bull run riseThe S&P 500 metric showed a price correction while Ethereum continued an uptrend. Percent Supply in Profit was over 67% at press time, representing a four-month high for Ethereum. The price of Ethereum [ETH] rose dramatically over the last few days, which indicated a bull trend. Consequently, the recent activity of the S&P 500 metric […]
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Solana: Is this the only reason behind SOL’s bull rally? Unravelling…Solana ranked second on the list of blockchains in terms of NFT sales. Market indicators revealed the reasons behind SOL’s price surge. Solana [SOL] outperformed every other blockchain except for Ethereum [ETH] in the NFT ecosystem. As per a 19 January tweet from Solana Daily, SOL ranked second on the list of the top 10 […]
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Canadian retail sales jump, offsetting November losses - BNN BloombergCanadian consumers remained resilient in December, even in the face of elevated inflation and rising interest rates.
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Wayfair to cut more than 1,000 jobs after sales decline - BNN BloombergWayfair Inc. said it’s cutting about 1,750 jobs, or 10 per cent of its workforce, becoming the latest company to seek to bring costs in line with a new economic reality.
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NFT sales surge 67.57% in one year, generate billions in trading volume: ReportThe number of non-fungible tokens sold in 2022 reached 101 million. The NFT market generated $24.7 billion in trading volume in 2022, a minor fall from $25.1 billion in 2021. The number of Non-Fungible Tokens [NFTs] sold in 2022 reached 101 million, a surge of 67.57% over the previous year. The results were released as […]
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Canadian retail sales fell 0.1 per cent to $61.8 billion in NovemberStatistics Canada says retail sales dropped 0.1 per cent to $61.8 billion in November.
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