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The price of Sandbox (SAND), the native token of the eponymous metaverse, rose by more than 16% after Coinbase announced its intention to list the token.
The move is expected to benefit SAND, given that Coinbase is the largest exchange in the US. The exchange made the announcement on Twitter.
Since the news broke, the SAND token has grown by more than 16%. This helped it become a leader among the largest gaming tokens. At the time of publication, the average price of SAND is $1.36. The trading volume for 24 hours jumped by more than 62% and amounted to 588 million dollars.
Earlier, Coinbase announced that about 45 ERC-20 tokens based on the Ethereum network and 6 SPL tokens based on the Solana network will be added.
Game tokens were hit hard amid a massive market crash last week. The price of Sandbox has fallen by 54% in the last 30 days. The sharp increase in the Sand rate helped the token to cover the losses a little. According to CoinMarketCap, the token is the 3rd largest gaming token with a market value of over $1.6 billion. The developers said that in order to make Sandbox cheaper, greener and more energy efficient, they will transfer the ecosystem to Polygon Matic (OxPolygon).
Over the past day, the total market value of gaming category coins increased by more than 9%. The total estimate is now $13.6 billion. Trading volume for 24 hours increased by 8.5% and amounted to 4.9 billion dollars. The largest of the ethereum (ETH) whales seems to be adding gaming tokens to its portfolio amid the fall.
According to WhaleStats, the game tokens Decentraland (MANA), ApeCoin (APE) and Axie Infinity (AXS) were included in the list of the 10 most purchased tokens by whales in the last 24 hours.
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