Along with Dogecoin and Shiba Inu, the metaverse coin project is rapidly gaining popularity among Ethereum whales.
A $17 million investment in metaverse coins from ETH whales
The native cryptocurrency of the Sandbox metaverse, SAND, has recorded a significant increase in the number of transactions over the past 24 hours. The reason for this interest may be the Sandbox partnership with Standard Chartered Bank (Hong Kong). Standard Chartered is the latest in a long line of large non-Web3 firms entering the metaverse market through the sandbox.
Nevertheless, the price of the sandbox (SAND) lost about 3%, following the general dynamics of the crypto market. Meanwhile, whale purses continue to increase their SAND reserves.
SAND Carries $126 million worth of Whales
At the time of writing, SAND is trading at an average of $2.53. Despite the latest news, it has lost more than 10% since last week. The biggest ETH whales turn a fall into an opportunity. Over the past 24 hours, many Ethereum whales have spent about $17 million on SAND. This transaction placed the metaverse coin project in the top ten tokens acquired by the top 100 ETH whales in the previous 24 hours.
Meanwhile, the market capitalization of the metaverse coin (about $27.8 billion) fell by 3.8% in the previous 24 hours. The volume of 24-hour transactions in the amount of 412.6 million increased by 12%. According to Whalestats statistics, Sandbox ranks sixth among the top ten coins in terms of trading volume.
Standard Chartered buys real estate in the Sandbox.
As we wrote in the Somagnews news, Standard Chartered Bank has acquired a piece of real estate in the Mega-City area of the virtual Sandbox zone. SCBHK says it is exploring various business models to encourage customer contacts with the bank.
With this offer, the bank joined the metaverse and Web 3.0 market. Meanwhile, on April 28, 2022, the sale of land for Mega City 2 will begin on the Sandbox map. After HSBC and Thailand’s Siam Commercial Bank, Standard Chartered is the third largest lender to buy land in Thailand. The initiative reflects the growing interest of non-Web3 companies in attracting potential consumers.
