Hashed sends 36.9M SAND to Binance – Is the altcoin’s price at risk?
The post Hashed sends 36.9M SAND to Binance – Is the altcoin’s price at risk? appeared on BitcoinEthereumNews.com.
Hashed deposited 36.9M SAND to Binance, adding sustained sell-side pressure 74.77% of holders were in loss at press time, weakening SAND’s upside recovery potential Hashed is in the news today after it deposited over 36.9 million Sandbox [SAND], worth $12.13 million, into Binance over the last 15 days. The most recent transaction, which moved 18.45 million SAND valued at $5.79 million, occurred an hour before press time. When a major player initiates a series of transactions of such nature, it could allude to an intent to offload holdings into the market. That’s not all though as while it could also indicate portfolio rebalancing, the timing of these deposits during price weakness could raise some concerns. To put it simply, sustained whale activity could be a sign of bearish pressure. Significant volatility could lie ahead for SAND too. Can the $0.29–$0.30 support zone continue to hold SAND’s decline? SAND has bounced several times from the $0.29 to $0.30 demand zone, forming a key support region on the charts. However, despite these rebounds, the token has continued to register lower highs – A sign of declining bullish momentum. In fact, the price recently dropped near this zone again, followed by a shallow bounce to $0.312. This price action revealed buyer hesitation and increasing vulnerability. Therefore, if this level breaks, sellers might gain control and push SAND towards new monthly lows. The press time price structure seemed fragile too, especially amid growing whale deposits. Source: TradingView Will SAND’s underwater holders trigger resistance during every attempt to rally? IntoTheBlock data revealed that 74.77% of all SAND holders may be out of the money, holding positions above the press time price of $0.311. This amounted to roughly 2.24 billion SAND facing unrealized losses. Only 18.75% of addresses appeared to be profitable at press time. This has created…
Filed under: News - @ May 27, 2025 2:25 am