The Sandbox (SAND) became a major name in the metaverse and blockchain gaming space during its rise to $8 in November 2021.
This is when it peaked, but since then, its value has significantly dropped. One major factor for this was the discontinuation of the Sandbox NFT Staking Program back in September 2023.
Now, many investors are wondering whether it has a chance to climb back to that level.
Then there’s PlutoChain ($PLUTO), an innovative Layer-2 solution with the potential to redefine Bitcoin’s role in DeFi.
Here’s a closer look at the developments around Sandbox.
Sandbox Technical Analysis: Can SAND Reach $8 Again?
Before we take a look at analysts' predictions, let’s see what the charts can tell us.
The 50-day Simple Moving Average (SMA) for SAND is around $0.6599, while the 200-day SMA is approximately $0.6416. The current trading price above both these averages shows there’s a bullish trend.
The 14-day RSI stands at 58, above the neutral 50 mark. This further confirms that the bulls might be ready to take $SAND on an upward trajectory.
MACD is sitting at 1.002, which confirms this upward momentum and bullish sentiment.
As for support levels, immediate support is observed at $0.59, which has acted as a cushion against further declines.
SAND faces resistance at $0.7727, with subsequent barriers at $0.7908 and $0.8258. Overcoming these levels is crucial for any upward movement.
As of December 11, 2024, The Sandbox (SAND) is trading at approximately $0.76.
Unlike technical indicators, analyst opinions vary.
For example, Changelly predicts SAND could rise to around $2.34 by 2025, with an average price closer to $1.55.
On the other hand, experts from Flitpay seem to believe that $SAND will easily reach an average price of $8 in 2025.
Could PlutoChain Be the Future of Bitcoin Innovation? A New Era for dApps on Bitcoin
PlutoChain ($PLUTO) is a Layer-2 solution that aims to tap into Bitcoin’s potential by bringing smart contracts and decentralized applications (dApps) to its network.
Bitcoin’s 10-minute block time has always been a limitation, which made it unsuitable for complex applications.
This made space for blockchains like Ethereum, Solana, and Cardano, which offer faster transactions and more development options.
PlutoChain could change this, thanks to its Layer-2 blockchain having a block time of just 2 seconds.
This advancement might finally give Bitcoin the last puzzle piece it needed for absolute dominance over the market.
PlutoChain’s Features That Might Improve Bitcoin’s Position in DeFi
So, let’s see how exactly PlutoChain could add new use cases to Bitcoin.
First off with building on Bitcoin’s infrastructure through smart contracts. This way, PlutoChain might unlock Bitcoin's untapped potential far away from its traditional store of value role.
Its testnet has already shown promising results, with over 43,000 transactions handled daily. This shows the network is capable of scaling for real-world use.
Community governance is also a major focus. PlutoChain allows token holders to vote on important upgrades and decisions regarding the project’s future.
Considering that security is one of the biggest problems in crypto, PlutoChain did everything in its power to ensure trust. The platform has been thoroughly audited by SolidProof, QuillAudits, and Assure DeFi.
Another one of PlutoChain’s key features is its Ethereum Virtual Machine (EVM) compatibility. This could let developers move Ethereum-based applications onto Bitcoin, and combine Ethereum’s flexibility with Bitcoin’s security.
The Bottom Line
Projects like The Sandbox have shown how blockchain can revolutionize industries like gaming and virtual worlds, but they operate in specific niches.
PlutoChain, on the other hand, has the potential to redefine the foundation of Bitcoin's utility. It could bring smart contracts, dApps, and faster block times to Bitcoin, and potentially transform it into a full-fledged development platform.
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Visit the links below to learn more about PlutoChain and its unique features:
Official Website: https://plutochain.io
X/Twitter Page: https://x.com/plutochain/
Telegram Channel: https://t.me/PlutoChainAnnouncements/
Remember, this article is not financial or trading advice. All cryptocurrencies are volatile, and past performance is not a guarantee of future results. Always conduct your own research and/or consult with experts before making any crypto-related decisions. Trade responsibly. Forward-looking statements are uncertain and might not be updated.
