The world of cryptocurrency and blockchain technology is a rapidly evolving space. Recent reports from Santiment, a blockchain analytics company, highlight some of the most notable movements in the industry. The Sandbox and AI cryptocurrency firms are included in the highlights.
The Sandbox Increased Interest From Whale Investors on Binance
Santiment, a blockchain analytics company, reports that the Sandbox (SAND), a metaverse gaming platform, has garnered increased attention due to the transfer of a substantial movement of 78 million SAND tokens, worth $56 million, from three addresses by whale investors to Binance.
Individuals who have held SAND for a prolonged period are selling their tokens as they can now make a profit. This comes after the price of SAND has yet to show significant movement in recent times.
According to the analysis, selling SAND should not pose a problem, even if its price declines. This could even lead to a faster decrease in value. However, once the selling has concluded and a brief price drop is observed, it may present a favorable opportunity to invest in SAND.
On the other hand, the Sandbox has recently entered into a partnership with Saudi Arabia. The news was shared through a LinkedIn post during the LEAP 2023 tech conference held in the Middle Eastern country. Sebastien Borget, the co-founder and COO of Sandbox, stated that the company eagerly anticipates exploring, offering advice, and supporting each other in metaverse activations.
At the time of writing, The Sandbox (SAND) ‘s value reached $0.7951. This represents an increase of 53.71% in the previous 30 days.
AI Cryptocurrencies Heat Up: AGIX and FET Secure Top Spots in Social Trends Ranking
Santiment also highlighted that the two artificial intelligence (AI) related cryptocurrencies, SingularityNET (AGIX) and Fetch.ai (FET), are performing well in terms of market capitalization and rank. AGIX is currently ranked 74th, and FET is ranked 93rd.
Santiment also stated that there is continued hype surrounding AIGIX and FET, having gained significant attention, securing the top 1 and 2 positions in the Top Social Trends ranking. It is anticipated that the growing utilization of AI technology and the rising demand for investment in the AI industry will increase AI-based cryptocurrencies in the year 2023.
The competition in the Artificial Intelligence (AI) field is intensifying with the launch of ChatGPT and Microsoft’s investment in OpenAI. Another startup AI company, Anthropic, has also garnered attention, with Google Cloud investing $300 million in the firm.