THECRYPTO.WATCH – Adidas, a well-known sports product brand, took an important decision. Its role in the Sandbox metaverse process has skyrocketed Sand tokens by 31%. This event rocked the market and sent a signal to traders. Should traders sell or buy Sand?
Sandbox itself will launch their alpha version on November 29. This means that the involvement of the Adidas name will affect the value of the Sandbox. This is the first time Adidas has been involved in the crypto market.
In addition to Adidas, there are already The Walking Dead, The Smurfs, Care Bears, Atari, and Avenged Sevenfold who first became Sandbox partners.
The value of the Sand Token skyrocket again.
Adidas’s move, although only retweeting the Sandbox tweet, has made the value of the Sandbox token skyrocket again. Yesterday, the value of this token with the symbol SAND rose 18% at USD5.25 points.
Previously, in weekly and monthly trading, the SAND value had skyrocketed. In the last seven days, its value has risen by 85%. Or 580% during November. If sorted from the beginning of the year, it means that this token has increased by 11,000%.
Will this value last? Not necessarily, considering the crypto market is very volatile. SAND’s arch rival, Decentraland, also experienced the same thing when Facebook announced it was joining their metaverse.
Then after 7 days passed the value fell 1% in 24 hours. So Adidas tweets will not necessarily have a positive effect for more than 7 days. Traders should be more observant to see opportunities.
Currently SAND and Decentraland share 600 million USD in the crypto market. With Decentraland being at position 42 and SAND one number below it.
