SAND, the native token of popular metaverse project The Sandbox, may come under massive selling pressure with its upcoming unlock.
According to Token Unlock data, TSI 14th February (today) at 11:00 am 250 million dollars worth 372 million SAND will be released to the market. The release of such a large amount of tokens brings to mind the possibility of selling pressure.
to be put on the market 372 million SAND your total supply 12.5% of it of tokens available in the market 21% forms part.
Total supply 3 billion Cryptocurrency currently on the market more than 2 billion exists.
The Sandbox will continue to unlock until May 2025. In addition, in all key openings company, developer team, seed investors, strategic investors and advisors will be entitled to a certain percentage.
While the large amount of tokens that will be opened clearly do not yet put pressure on the price, according to experts will have a certain effect on the price in the long run.
According to Coinecko data, in the last 24 hour period 3.1% experiencing a decline SAND at $0.675 is being traded.
on the other hand January 12 that period in 19 million dollars found in value 4.5 million Aptos was unlocked, but contrary to expectations, there was a rise, not a selling pressure.