Transactions made by whales, the big players in the crypto market, always attract the attention of crypto enthusiasts. This time, ETH whales have purchased over $24 million of Sandbox (SAND) tokens in the last 24 hours. However, the price of SAND dropped almost 3%. Looks like Whales only do bottom picking.
SAND topped the list of top token purchases in the last 24 hours
According to WhaleStats, two Ethereum whales, Azog and BlueWhale0069, have purchased 6.620,000 SAND (about $22.97 million) and 510,603 (about $1.76 million) respectively. This move sent SAND to the top 10 list of tokens bought by the biggest ETH wallets in the last 24 hours. Azog also added 699,999 Enjin Coins worth $1.25 million to his wallet.
🐳🐳🐳🐳🐳 ETH whale “Azog” just bought 6,620,000 $sand ($22,971,400 USD).
Ranked #125 on WhaleStats: https://t.co/Yf50bxZ8yF
Transaction: https://t.co/swg1DWTN4w#SAND #ERC20 #DEFI #ETH #whalestats #babywhale #BBW
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) April 5, 2022
The data show that whales have been saving money for a long time. SAND easily topped the list of top tokens purchased in the last 7 and 30 days. Meanwhile, the token is also on the list of the best-selling cryptocurrencies in the last 24 hours, 7 and 30 days.
The largest of the ETH wallets holds $186.67 million worth of SAND tokens. This accounts for just 1.76% of their total assets. The FTX token remains the largest token held by Ethereum whales. They hold over $1.8 billion in FTX tokens.
However, it’s worth noting that the top ETH whales also rate Decentraland (MANA) higher than SAND. MANA is a major Metaverse platform competing against SAND. Whales hold $332 million worth of MANA tokens.
SAND and Ledger Collaboration
Recently, The Sandbox announced its partnership with Ledger, a hardware crypto wallet. The team aims to create a secure Metaverse by increasing security, education and support for users. Ledger will reportedly build a hub in Sandbox. SAND is trading at an average of $3.45 at press time. The altcoin is down 4% in the past 7 days. According to CoinMarketCap, Sandbox is the 39th largest cryptocurrency with a total market capitalization exceeding $3.9 billion.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.