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Sandbox announced a partnership to move DBS to the Metaverse.
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The value of the metaverse is estimated to go up to $13 trillion in the current decade.
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Sandbox is yet to make strong gains amid the partnership.
Metaverse – a unified network that promises virtual worlds and a 3D version of the Internet. According to Citi analysts, the network will be a $13 trillion opportunity by 2030. The craze to enter the world of 3D virtual reality grew rapidly in 2021. It has since cooled down, along with tokens from the Metaverse platform such as Sandbox Sand/USD.
There is still hope as companies show interest in the space being exploited again. On September 9, banking giant DBS said it was entering the metaverse through a sandbox. Ready to buy 3*3 piece of real estate on DBS sandbox. This partnership will lead to DBS Betterworld, an interactive experience in the virtual space.
Revisiting SAND after DBS partnership
While the DBS partnership rekindles memories of the Metaverse, Sand hasn’t reacted strongly yet. The coin is only up 1.55% in the past week.
Source – TradingView
From a technical point of view, the sand is recovering. A Bullish MACD crossover confirms a Bullish Building Momentum. However, the current price level remains weak.
The established resistance for SAND is $1.00. The cryptocurrency is currently trading at $0.966. The price is already facing resistance at or slightly below $1.00. Although the price has recovered slightly above the 20-day EMA, the momentum is weak. Possible price move is bearish until SAND reclaims $1.00.
closing thoughts
The Sandbox recently welcomed DBS to the Metaverse. The native token has yet to generate significant gains. Slow gains may indicate that the macro-issues of crypto are not over. SAND faces resistance at $1 while momentum looks weak.
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