The Sandbox (SAND) has drawn attention across the cryptocurrency market after its price climbed 32.6% over the past week, reaching $0.3517. Despite that strong weekly gain, the token has retraced about 4.1% in the last 24 hours.
Market focus intensified after crypto investment firm Hashed deposited 18.45 million SAND tokens, worth roughly $6.3 million, to its Binance account. Large institutional or fund movements onto centralized exchanges often raise questions about potential sell pressure.
Hashed(@hashed_official) deposited 18.45M $SAND($6.3M) to #Binance 2 hours ago.
Hashed is very good at buying low and selling high—just last month, they withdrew 11.36M $SAND($2.9M) from #Binance at $0.26. Since then, $SAND is up 35%.https://t.co/NbfRQu5wf2 pic.twitter.com/LYmx4WQxkG
— Lookonchain (@lookonchain) May 13, 2025
This sizable transfer has sparked debate among traders and analysts about its potential implications for SAND’s price action.
Recent SAND Price Moves
Over the past 24 hours, SAND traded between $0.337 and $0.3706, underscoring the volatility common to crypto markets. Despite today’s pullback, the token has shown resilience with a notable seven‑day rise of 32.6% from a low of $0.2641 to a high of $0.3679.
Expanding the view, SAND gained 17.4% in the last 14 days and 33.2% over the past month, indicating a strong short‑term uptrend. That said, the token remains down 16.7% on a 12‑month basis, highlighting the cyclical nature of crypto investing.
Impact of Hashed’s Strategic Token Movement
Hashed’s recent deposit of roughly $6.3 million in SAND follows a strategic withdrawal the fund made last month. On April 10, 2025, at 15:00 UTC, Hashed withdrew 11.36 million SAND from Binance when the price was $0.26, a move valued at about $2.9 million. Since then, the token has climbed roughly 35% to trade near $0.35 prior to the latest deposit.
The large deposit to Binance could be a precursor to selling, which would add downward pressure on price — a concern reinforced by a surge in trading activity observed after the transfer. Trading volume in the SAND/USDT pair jumped to over 25 million SAND in the hour following the deposit, well above the previous 24‑hour average of about 15 million SAND. That spike suggests traders reacted quickly to the news and anticipated further price movement.
From a technical perspective, the daily Relative Strength Index (RSI) sits near 64 after briefly touching the overbought zone, implying the recent rally is cooling and the market may be awaiting the next catalyst. The MACD also points to a potential retracement, with a declining histogram and convergence between the MACD and its signal line.
Key levels to monitor: if price breaks below support at $0.31, a re‑test of the $0.27 support area becomes more likely. Conversely, if $0.31 holds and SAND clears resistance at $0.3627, the token could regain bullish momentum and target roughly $0.41.
The Sandbox (SAND) price chart
It’s important to note the broader crypto market has shown mixed sentiment recently, which affects risk appetite for assets such as SAND. Still, metaverse and gaming tokens, including SAND, have gained renewed investor interest as attention to virtual‑reality and gaming projects grows.
For investors and traders, closely watching trading volume, technical indicators, and overall market sentiment will be essential in the coming days to navigate potential volatility or to position for further upside.