The Sandbox is one of the cryptocurrencies that have been on a steep uptrend during the past week. The cryptocurrency garnered gains of more than 100% during the past seven days while the daily timeframe shows a growth of 35%. The daily trading volume has also surged by more than 170%. The uptick of the token can be attributed to the metaverse rally. Moreover, there are also some interesting developments to unfold soon which have been further boosting the token. At the time of writing, the cryptocurrency stands at a price level of $5.39 – which has been established as the new all-time high. The price rally has not ended yet which means a higher high can be recorded soon.
Why is the Sandbox surging?
Projects in the metaverse realm have been surging due to the increasing interest in the segment. The Sandbox is one of the most sought-after projects of the digital realm as it stands at a market rank of #41 with a significant and growing market capitalization. The project has announced an alpha release of their game on 29th November which has resulted in a surge as investors are anticipating a new and exciting product next week.
Moreover, the Sandbox has also been teasing the community with a potential partnership with Adidas. The project asked Adidas – the leading sports & shoe brand – to build the future together in its metaverse through Twitter. Adidas subsequently replied asking the community about suggestions for what to build. This Twitter exchange caused an uproar as the communities of both projects are anticipating a partnership. If the partnership is to take form, the Sandbox can be expected to reach newer highs and it may possibly dominate the metaverse realm.
Future outlook
The Sandbox is a virtual world based on blockchain technology. The game allows players to create, buy and sell digital assets through its metaverse. It is one of the top metaverse projects which gives it a strong footing in the market and; hence, a bullish future outlook. If the project is able to continue the pace at which it is operating, it has the potential to become the top project of the metaverse. The cryptocurrency is expected to continue its strong positive price trend in the upcoming days. According to the estimates of Digital Coin Price, the Sandbox is expected to close the year with a price level of $8.22 while the is projected to be operating at $18.58 by 2026. Wallet Investor’s five-year projection also places it near $13.
