The gaming token sector has generally strengthened over the past day, with Sandbox's token SAND leading the way. In the past 24 hours, SAND has risen by over 10%, with daily trading volume increasing by 157%, reaching over $46 million. During the same period, the total market capitalization of the gaming sector surpassed $5.15 billion, but overall trading volume declined, indicating that funds are flowing more concentrated into a few tokens.
Fund flow turns positive
DefiLlama data shows that USD inflows into SAND have turned positive, returning to net inflows after two consecutive days of outflows, exceeding $3,600. Compared to the large outflows in early June, short-term sentiment has recovered.
The number of addresses holding SAND tokens is also increasing. CoinMarketCap data shows that the number of SAND holders increased from 367,500 to 367,700 in less than a week, an increase of more than 200 addresses, reflecting a recovery in on-chain holding intentions.
The whales are larger in scale.
According to Nansen AI data, so-called "smart money" addresses are currently net sellers on SAND, with short positions of approximately $10,000 and long positions of approximately $1,200, indicating an overall bearish bias.
However, whale funds are moving in the opposite direction. Data shows that whales hold over $157,000 in long positions in SAND, roughly 10 times the net position size of smart money. This means that the current upward price movement is primarily driven by large inflows of funds, rather than short-term traders covering their positions.
Price breaks through short-term resistance
From a short-term perspective, the SAND has broken through two downward moving averages and is now above the resistance zone around $0.0537. The technical structure cited in the article shows that the 100-day and 200-day exponential moving averages have turned into short-term support, with trading volume increasing simultaneously.
If the upward trend continues, the price may first retrace to the $0.05150 to $0.05248 range before attempting to test the $0.05641 area. If buying pressure weakens subsequently, the $0.0537 level will become a crucial point for observing short-term strength or weakness.
