Sandbox (SAND) price currently sits at $0.30, its lowest since August 2021. On-chain analysis explores how recent spikes in SAND network demand could impact price action in the coming weeks. 

Like most metaverse tokens, Sandbox price performance in H2 2023 has been underwhelming. Can Facebook’s recent Artificial intelligence (AI) powered glasses spark sustained market demand across the SAND ecosystem?

Network Demand Spike After Facebook’s Recent Product Launch

Sandbox witnessed a noticeable spike in new users as Facebook launched AI-powered Ray Ban smart glasses. Indicatively, on-chain data from Santiment shows that 278 new wallet addresses were created on September 27.

 Notably, the last time the Sandbox ecosystem witnessed this level of Network Growth was on July 24. 

Network Growth tracks the daily number of fresh wallet

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Author: Ibrahim Ajibade

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