The host of crypto YouTube channel Coin Bureau says that an Ethereum-based metaverse gaming altcoin is poised to rise in the coming weeks.
The analyst, known by the alias Guy, hits 1.62 million YouTube subscribers in a new video. of The Sandbox (SAND) says it has the potential to become the biggest gaming cryptocurrency on the market.
SAND is the native icon for The Sandbox, an Ethereum-based virtual world that allows video games fans to create, own and monetize their gaming experiences. SAND is the 63rd ranked crypto asset by market cap and is trading at $3.25, up more than 36 percent it has experienced in the past seven days.
Despite experiencing notable gains so far, Guy believes the gaming altcoin still has room to grow.
The SAND seems to be overloaded, but it doesn’t crash as fast as I expected. It looks like the uptrend will continue.
There are several reasons for this: First, NFTs. As I mentioned a few moments ago, NFTs from Sandbox are some of the most traded of any NFT collection. Most of these purchases are made in SAND, which creates demand.”
The pseudonymous analyst also states that SAND’s mid-market cap means it will take less cash to drive up the price compared to larger metaverse cryptos like Axie Infinity’s AXS.
Guy also argues that SAND’s tokenomics are “robust”.
“The SAND seems to be overloaded, but it doesn’t crash as fast as I expected. It looks like the uptrend will continue.
There are several reasons for this: First, NFTs. As I mentioned earlier, NFTs in Sandbox are among the most traded of any NFT collection. Most of these purchases are made in SAND, which creates demand.”
The popular analyst also noted that since SAND has a medium market cap, Axie Infinity’s AXS He also points out that raising the price can be achieved with less cash compared to larger metaverse cryptos such as
Guy also claims that SAND’s tokenomics are “robust”.
“SAND has a maximum supply of 3 billion, a stable start, current distribution, and an evenly spaced qualifying plan.”
It’s worth noting, however, that we are approaching another entitlement gap, which will begin in December. As a result, another 300 million SAND will be opened and potentially sold on the open market. The last qualifying gap occurred in July and appears to have suppressed the SAND price at the time. That means the same thing could happen again on December 1.
Despite that, SAND’s specs look good, which is the fourth reason why it continues to move upwards.
If my calculations are correct and assuming the rest of the cryptocurrency market hasn’t crashed, we could see SAND rally 2x in the coming weeks.”
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.