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Market Wrap: Cryptocurrencies Fall as Sentiment Turns Bearish

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MARKET WRAP: Bearish sentiment in cryptos and stocks left buyers on the sidelines over the past week. But geopolitical sell-offs are typically short-lived.

SAND token joins broader crypto market in gloomy outlook:

SAND, the native token of the Ethereum-based virtual-reality platform The Sandbox, dipped below the widely tracked 200-day moving average on Tuesday, joining peers from other crypto sub-sectors in signaling a gloomy market mood, according to CoinDesk’s Omkar Godbole. Read moreTether has reduced its commercial paper holdings by $6.2 billion over the last quarter in 2021, according to its latest. The largest stablecoin issuer by total supply cut its assets held in commercial paper from $30.

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