$SAND The Sandbox Team Selling? 27 Million SAND Moved To Exchanges via Animoca Linked Wallet

Significant onchain movement has been detected involving SAND, with millions of dollars worth of tokens flooding top exchanges, potentially signaling an upcoming sell off by insiders.

🔸 Today, a newly created wallet transferred a massive 27 million SAND valued at roughly $3 million to major CEXs.

🔸 Onchain analysis reveals a direct link to the project insiders. The tokens originated from The Sandbox team Gnosis Safe proxy. They were then routed through an intermediate wallet affiliated with Animoca Brands before being sent to the exchange deposit addresses.

🔸 Interestingly, this transfer occurs while SAND is trading in the green +5.21%. This suggests that the team or early backers might be taking advantage of recent liquidity to book profits or secure operational funding.

With $3 million worth of selling pressure hitting the order books from an insider source, will SAND be able to hold its current support levels?

News is for reference, not investment advice. Please read carefully before making a decision.