• Sandbox (SAND) price crashed for two straight days as the cliff unlock date nears.
• A “cliff unlock” is a situation, baked in the tokenomics, that increases the number of tokens in circulation.
• Sandbox now has a total market cap of over $1.17 billion and a diluted value of $2.34 billion.
Sandbox (SAND) Price Crash
The Sandbox price crashed for two straight days as the cliff unlock date nears and as a risk-off sentiment prevailed. The SAND/USDT price retreated to a low of $0.7797, which was lower than this week’s high of $0.937.
Cliff Unlock Overview
Crypto tokens have a mechanism known as tokenomics, which defines the distribution of initial tokens. A cliff unlock is a situation that is baked in the tokenomics that increases the number of tokens in circulation. Data by Token Unlocks shows that just 56% of all SAND tokens are now in circulation, with the remaining 44% being locked. The locked ones are currently valued at over $1 billion and will be unlocked on Monday resulting in an increase to 2.1 billion tokens in circulation with an estimated value of $292 million diluting existing holders‘ stakes..
Sandbox Market Capitalization
As a result, Sandbox now has a total market cap of over $1