Blockchain analytics firm Santiment says crypto exchanges have seen the largest hourly flow of stablecoins this year due to the recent correction and consolidation in the markets. He also pointed out a popular metaverse coin project, noting that its on-chain data is positive.
Santiment draws attention to popular metaverse coin SAND
The firm said last week that it has seen a record-breaking influx of stablecoins in the form of crypto exchanges Tether (USDT) and Circle’s USD Coin (USDC). After Bitcoin corrected from $69,000 to below $56,000, Santiment says BTC was mentioned online at a much lower rate than it was in June. Looking at altcoins, the crypto analytics firm says one opposes a broader crypto correction trend. According to Santiment, the metaverse-focused Sandbox (SAND), which has risen nearly 50 percent last week, is challenging the markets as it signals a promising on-chain signal. The company uses the following expressions:
Sandbox is currently at $4.32 and is challenging most of the market-wide correction that took place this week. SAND’s realized profit/loss has started to become ineffective again and has been an extremely accurate leading indicator historically.
Although down 4.5 percent at the time of writing, The Sandbox (SAND) has gained over 417 percent over the past month. cryptocoin.com As we reported, the cryptocurrency reached an all-time high, rising to $ 4.64 3 days ago. It’s trading at $3.97 at the time of writing, some 14.3 percent below its record.
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