The Sandbox This wave is a bit rough. The attacker directly dumped 14.9 billion SAND on both the Base and BSC chains—entirely unencumbered. The project team didn’t have time to react, so they can only temporarily halt cross-chain transfers.
How did on-chain analysts estimate the price? The logic is pretty straightforward: put the amount of newly issued tokens together with the total circulating supply to calculate the theoretical price. The total SAND amount is roughly 3 billion tokens, and this round of issuance pushes the supply to 5x. Based on that, if the original price was 0.0435, then theoretically it should fall to around 0.0087.
The problem is that the market doesn’t seem to have fully digested it yet—the current price is still hovering around 0.0435. This shock hasn’t been priced in at all.
Going forward, it comes down to two things: how the attacker disposes of the tokens they hold, and whether the project team can quickly destroy the newly issued tokens. If there’s no movement within 48 hours, there’s still plenty of room for downside under SAND.
#SAND
How did on-chain analysts estimate the price? The logic is pretty straightforward: put the amount of newly issued tokens together with the total circulating supply to calculate the theoretical price. The total SAND amount is roughly 3 billion tokens, and this round of issuance pushes the supply to 5x. Based on that, if the original price was 0.0435, then theoretically it should fall to around 0.0087.
The problem is that the market doesn’t seem to have fully digested it yet—the current price is still hovering around 0.0435. This shock hasn’t been priced in at all.
Going forward, it comes down to two things: how the attacker disposes of the tokens they hold, and whether the project team can quickly destroy the newly issued tokens. If there’s no movement within 48 hours, there’s still plenty of room for downside under SAND.
#SAND