The Sandbox [SAND] Enters Fifth Week Below $0.35 Despite SSC Napoli's Metaverse Partnership

Bitcoin [BTC] and most altcoins registered mild gains on the 14th of August after the U.S. Bureau of Labor Statistics released July’s Consumer

output: After a brief rally, crypto prices reversed course on the 14th of August following news of the U.S. government moving roughly 10,000 BTC to a Coinbase wallet.

The move sparked fears of a market dump, leading to a sell-off. Prices of high-cap cryptocurrencies, including Ethereum [ETH], fell again on the 15th of August.

The Sandbox [SAND] fell alongside other cryptocurrencies, with its price continuing to slide after posting a second consecutive daily red candle.

According to market data, SAND has been one of the worst-performing tokens in the current cycle.

The metaverse token has posted negative returns of 37% since the start of 2023 compared to BTC and ETH, which have gained 250% and 116%, respectively, during this period.

Serie A football club Napoli announced a collaborative initiative with The Sandbox this week.

The Web3 platform will support Napoli's entry into the metaverse.

The Italian professional club will create a virtual space within The Sandbox’s ecosystem to connect its players and fans worldwide.

The venture will offer fans immersive experiences, digital memorabilia, and virtual interaction.

“By introducing a new vertical of entertainment and co-experience through sports, The Sandbox is becoming a premier destination where fans can connect, celebrate their fandom with fellow supporters, and engage with their favorite teams in immersive and realistic ways,” Sebastien Borget, The Sandbox COO and co-founder, said.

The partnership strengthens The Sandbox's presence in the sports sector, attracting more users to its ecosystem.

It also expands the experiences and enhances the diversity of content available in The Sandbox, reinforcing its position as a major player in the metaverse space.

SAND's price reached $0.27 on the 13th of August and appeared to defend the level on the 14th of August before losing and dropping to $0.25.

The SAND/USDT pair ranged around this midweek low before attempting to retake $0.26 on Thursday.

In the latest price action, SAND slid sharply to $0.24, where it was trading heading into Friday.

Per the zoomed-out chart, SAND/USDT was now entering its fifth consecutive week trading below $0.35.

SAND also ranged below its 20-, 50-, and 100-day exponential moving averages (EMA) on the 1-hour, 4-hour, and daily charts at press time.

Losses deepened to new lows on the 5th of August when the token crashed below $0.23 for the first time since June 2021.

Thus far, SAND's price has shrunk by 58% year-to-date, and the token trades at almost 97% below its record high.

input: After a brief rally, crypto prices reversed course on the 14th of August following news of the U.S. government moving roughly 10,000 BTC to a Coinbase wallet.

The move sparked fears of a market dump, leading to a sell-off. Prices of high-cap cryptocurrencies, including Ethereum [ETH], fell again on the 15th of August.

The Sandbox [SAND] fell alongside other cryptocurrencies, with its price continuing to slide after posting a second consecutive daily red candle.

According to market data, SAND has been one of the worst-performing tokens in the current cycle.

The metaverse token has posted negative returns of 37% since the start of 2023 compared to BTC and ETH, which have gained 250% and 116%, respectively, during this period.

Serie A football club Napoli announced a collaborative initiative with The Sandbox this week.

The Web3 platform will support Napoli's entry into the metaverse.

The Italian professional club will create a virtual space within The Sandbox’s ecosystem to connect its players and fans worldwide.

The venture will offer fans immersive experiences, digital memorabilia, and virtual interaction.

“By introducing a new vertical of entertainment and co-experience through sports, The Sandbox is becoming a premier destination where fans can connect, celebrate their fandom with fellow supporters, and engage with their favorite teams in immersive and realistic ways,” Sebastien Borget, The Sandbox COO and co-founder, said.

The partnership strengthens The Sandbox's presence in the sports sector, attracting more users to its ecosystem.

It also expands the experiences and enhances the diversity of content available in The Sandbox, reinforcing its position as a major player in the metaverse space.

SAND's price reached $0.27 on the 13th of August and appeared to defend the level on the 14th of August before losing and dropping to $0.25.

The SAND/USDT pair ranged around this midweek