Ergo, it would seem that investors’ attention has shifted from highly volatile metaverse-linked assets to more secure assets like stablecoins.dropped significantly over the past few months. Hence, the failure of Metaverse-linked crypto-assets to see any major price growth over the past few weeks can be explained., SAND was trading at $0.983 at press time. Ranked 40th by market cap, its price appreciated by 1% over the last 24 hours.
On the daily chart, a look at the token’s Moving Average Convergence Divergence revealed the commencement of a new bull cycle on 4 September. However, this cannot be taken as an indication of SAND’s performance as it merely follows the trajectory of the general cryptocurrency market. A look at indicators like Chaikin Money Flow and Relative Strength Index provides a clearer outlook. At 0.01 in a downtrend, SAND’s CMF was positioned south, showing a waning interest in SAND accumulation. Also, the asset’s RSI rested below the 50-neutral region at a flat 45, indicating that the buyers were beginning to tire out.It is trite that the price performance of a cryptocurrency asset is highly linked to growth on its network. For SAND, not much traction was seen on that front.