Leading metaverse assets witnessed massive declines since the early sessions of May. Nevertheless, Sandbox (SAND) decoupled from current market-wide sentiments.
SAND gained more than 18% within the past week, leading the large-cap metaverse tokens. Moreover, the altcoin maintained upward moves today, even with the crypto market flashing extended bearishness.
Sandbox’s Daily Trading Volume Surge 220%
SAND’s 24-hours trading volume noted an explosive move, gaining over 22% to hit $1.05 billion. However, most things have aligned in favor of the token to register the impressive uptick amidst volatile markets. The leading crypto exchange in the US, Coinbase, revealed a possible SAND token listing.
Finally, the trading platform introduces the metaverse coin on its network. The previous 24 hours saw SAND surging approximately 10%. For now, the alt trades at the $1.39 average price. SAND ranked 3rd in the metaverse crypto list, with its market cap totaling above $1.7 billion.
Another big move had the HKT and PCCW joining the metaverse craze via Sandbox. The leading telecommunication powerhouses purchased lands in Mega-City.
The announcement reveals the firms will launch the first 5G network within the digital world. They’ll add music and TV content within the Web3, enhancing entertainment.
Metaverse Coins 24-hr Trading Volume Gains 40%
Sandbox revealed that HKT and PCCW would initiate eCommerce solutions and financial technologies to support the meta-community. Companies in Hong Kong can use this partnership to navigate more business opportunities.
An earlier announcement by Sandbox revealed the music icon Elvis Presley joined the metaverse. PCCW MD Susanna Hio stated that HKT and PCCW attempt to dive into innovative technology applications.
However, metaverse tokens witnessed ugly performance within the previous month because of the broad market crash. Their overall market cap plunged to 413.6 billion. Nevertheless, metaverse assets’ 24hr trading volume noted a 40%upsurge to $3.9 billion.
Meanwhile, the crypto space is yet to recover from massive bearishness. The past 24 hours saw intensified downside actions, with all large-cap cryptos trading in the red.
While writing this news, the global cryptocurrency market cap stood near $1.21 trillion, losing more than 4% within the previous day. Though SAND decoupled from these tendencies, it will unlikely hold the gains in the near term.
Editorial credit: Dennis Diatel / shutterstock.com
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