SAND moved first on-chain: A related address of The Sandbox sent 92.94 million $SAND to Binance, about $7.32 million, equal to 2.2% of the day’s trading volume. On-chain liquidity in the pool is only $270k deep—it's not able to be sold there, so it can only be sold on the exchange.
Why the rush for money? The August cross-chain bridge vulnerability compensation involves 14.74 million tokens; the company laid off half its staff, the founder stepped down, and Animoca took over.
The fee rate narrowed from -0.3250% to -0.0469%, open interest rose 9.6% again, and the squeeze on shorts is nearing an end—going forward it will rely on real buy-side demand. #SAND
Why the rush for money? The August cross-chain bridge vulnerability compensation involves 14.74 million tokens; the company laid off half its staff, the founder stepped down, and Animoca took over.
The fee rate narrowed from -0.3250% to -0.0469%, open interest rose 9.6% again, and the squeeze on shorts is nearing an end—going forward it will rely on real buy-side demand. #SAND