Sandbox genesis smart contract already transferred out 60 million tokens ahead of Sunday unlock token worth $133 million. reports
SAND’s 24-hour trading volume at press time stands at $74.9 million, per60 million SAND tokens were transferred out of the multisig Sandbox Genesis smart contract one week ago, according to block explorerMetaverse platform Sandbox’s SAND token has slid this month ahead of its Monday unlock, set to release more than 16% of the circulating supply.
However, 60 million SAND tokens were transferred out of the multisig Sandbox Genesis smart contract one week ago, according to block explorer, a sign the unlock had already begun. Sandbox Discord Ambassador, who goes by the screenname Uncle Grumpy said this was an effort to “not shock” the system. Token unlocks, typically bearish for the price, inject previously frozen liquidity into the market with scheduled issuances, often to project insiders and investors. Monday’s unlock will see over 332 million SAND tokens enter into the open market., 50% of the tokens will be allocated to the team and company reserve. Sandbox advisors will receive about $15 million worth of tokens, while the remaining rest will go toward those that participated in the strategic and seed sales of SAND.
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