• Sandbox is a cryptocurrency that has a mechanism known as tokenomics, which defines the distribution of initial tokens.
• The next cliff unlock for Sandbox will happen on Monday and will see over 372 million tokens valued at over $292 million being unlocked.
• Despite the expected dilution, Sandbox recently announced a major partnership with Saudi Arabia Digital Government Authority, which could offset the effects of dilution.

Introduction to Sandbox

Sandbox (SAND) is a cryptocurrency that has a mechanism known as tokenomics, which defines the distribution of initial tokens. It currently has a total market cap of over $1.17 billion and a diluted value of $2.34 billion.

Cliff Unlock Approaching

Data by Token Unlocks shows that just 56% of all SAND tokens are now in circulation, with the remaining 44% being locked. The next cliff unlock will happen on Monday and will see over 372 million tokens valued at over $292 million being unlocked. As a result, the total number of SAND tokens in circulation will rise to 2.1 billion tokens, resulting in dilution for existing holders.

Price Prediction

The SAND/USDT price retreated to a low of $0.7797, which was lower than this week’s high of $0.937. Turning to the daily chart, we see that the SAND crypto price pulled back slightly below the resistance point at $0.9800 (November 5 high). Still, the coin seems to be forming a cup and handle pattern, which is usually a bullish sign.

Major Partnership Announcement

Despite the expected dilution due to cliff unlock happening on Monday, Sandbox recently announced a major partnership with Saudi Arabia Digital Government Authority on Wednesday as potential news to counterbalance any negative effects from dilution news..

Conclusion

It remains unclear how exactly this new partnership between Sandbox and Saudi Arabia Digital Government Authority will affect future prices but it could potentially offset any negative effects from dilution news due to upcoming cliff unlock event happening on Monday .