Binance US, the stock market arm of Binance serving its US users, has listed the largest metaverse coin project in the market. Investors are curiously waiting whether this news will be enough for 1 dollar.
Binance US has listed this metaverse coin project
The native token of the metaverse coin Sandbox, which entered the list of Binance US, became SAND. SAND is already traded on Binance’s global platform. As a metaverse coin, SAND together with the NFT-type LAND token allows Sandbox users to shop for the game. Released as a mobile game in 2012, Sandbox started as a collaboration between Pixowl and developer Onimatrix.
Six years later, in 2018, Animoca acquired Pixowl. They then migrated to the Blockchain base to create a 3D world and take advantage of the token economy and user-generated content. The platform held an ICO in August 2020. It then raised $3 million, which was used to fund its future operations.
https://twitter.com/BinanceUS/status/1577743706765017088
The announcement came today from Binance US’s official Twitter account. Sandbox’s gaming and NFT economy were at the forefront in the announcement.
SAND is now listed on Binance
Both Binance US and Sandbox have already confirmed that SAND is listed by the cryptocurrency exchange. SAND reacted positively to this news in a short time. It is currently trading at $0.8508. Its current price is higher than the closing price of $0.83 on Oct. 4, when the listing was announced. With this development, SAND was able to recover from the slump that had put it on a downward trend for a while. In fact, various indicators such as Awesome Oscillator (AO) and RSI point to a bullish momentum for SAND.
Investors hopeful for $1 price target
After this momentous event for the Metaverse, crypto enthusiasts are already looking at the next step for the token. Trendlines on the daily time frame struggled to break past 1.011 resistance throughout the entire month of September. Therefore, $0.807 acts as a strong support level.
However, a potential rally to the $1 zone, which is a holding target, is still in jeopardy. At the same time, if the SAND can get out of its current operating range, there is a strong possibility that it will hit the target. One possible thing that could help SAND achieve this goal is that it is already listed on Binance. It is also the expected growth in purchasing activity as more potential buyers have access to it.
As Kriptokoin.com, we report the latest developments from the metaverse market in this bulletin. Meanwhile, Sandbox Game Jam started on October 5, 2022. The deadline for completing and submitting entries is October 30, 2022.
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