Is SAND recovering fast enough to still make a splash

ambcrypto.com:

Many cryptocurrencies have managed to register significant recoveries over the last 45 days, especially since June’s crash. The Sandbox [SAND] has been one of them.

Even so, the Metaverse token’s performance over the last few days has not been up to the mark. This is leaving a very important cohort of the asset quite restless.

This week acted as a breather for the market after weeks of unsure fluctuations. In fact, the entire market and every cryptocurrency recorded recoveries enough to invalidate the dips observed over the last few months.

While SAND did hike by 66.84% from its June lows, its recent appreciation hasn’t been significant and placed it at $1.34. In addition to that, at press time, it was still over 82% from its all-time high.

The Sandbox price action | Source: TradingView – AMBCrypto

This has created an atmosphere of concern in the market for SAND holders who are reacting accordingly. This is the case, particularly for long-term holders who happen to have significant dominance over SAND’s supply.

Between August 2021 and today, SAND LTH’s addresses have increased. However, the supply of tokens they hold has decreased by 11%. That being said, they still command approx. 59.18% of all SAND.

Here, it’s worth pointing out that recent weeks have seen these people lose their patience too.

The Sandbox supply distribution | Source: Intotheblock – AMBCrypto

In July alone, LTHs have moved their holdings around a lot. This has resulted in the consumption of billions of days that had been built up by these investors’ tranquility.

All in all, about 27 billion days have been consumed by these holders.

The Sandbox LTH selling | Source: Santiment – AMBCrypto

Some of this could also have been the effect of selling at the hands of the