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Market

SAND is bucking the market downtrend and is up 88% for the week

November 20, 2021 - Around 2 mins mins to read

SAND is still in the running until this week. Although the entire market has collapsed in the past 11 days and Bitcoin has lost over 16.1% of its value, SAND is moving in the opposite direction. Not at 318% like at the beginning of November, but much safer for investors.

SAND goes up to fall like last time?

During the week, SAND bucked the general market trend and was up 87.79%. This has had a huge impact on investors and SAND even passed the $ 4 mark yesterday.

SAND is bucking the market downtrend and is up 88

SAND price promotion | Source: TradingView

What is interesting is that this rally is different because it was not born out of FOMO. Previously, FOMO investors who bought during the hype (when the all-time high was $ 3.2) suffered a loss in a 28% correction that naturally came afterward.

However, given SAND’s healthy growth this week, the chance of another 28% correction and network-wide surrender seems somewhat unlikely.

SAND is bucking the market downtrend and is up 88

Profit / loss indicator returns to neutral | The source: mood

Do investors act?

SAND is a whale token (whales make up 85% of total supply), so it’s no surprise that the average whale trade this week is $ 40 million, up from $ 80 million yesterday. .

1637418552 449 SAND is bucking the market downtrend and is up 88

Whale trade | Source: Santiment

However, with over $ 100,000 in trading volume accounting for only 88% of the $ 546 million, the remaining 12% ($ 63 million) is due to investor movements. Even so, any new investor will always have the fear of a whale sell-off in mind.

However, due to the very high volume and social dominance, there is still a chance that new investors will join the network. In addition, the speed of network expansion continues to increase day by day.

sand

Social mass (pink) and dominance rate (red) | The source: mood

Since SAND’s correlation with Bitcoin remains at -0.5, it will decrease as BTC increases. Hence, investors can monitor this indicator to find out when the price is falling. If the correlation rises to 1, the SAND also follows the overall market trend.

sand

Correlation of SAND and BTC | The source: Intotheblock

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bucking

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Market

SAND is bucking the market downtrend and is up 88% for the week

SAND is still in the running until this week. Although the entire market has collapsed in the past 11 days and Bitcoin has lost over 16.1% of its value, SAND is moving in the opposite direction. Not at 318% like at the beginning of November, but much safer for investors.

SAND goes up to fall like last time?

During the week, SAND bucked the general market trend and was up 87.79%. This has had a huge impact on investors and SAND even passed the $ 4 mark yesterday.

SAND is bucking the market downtrend and is up 88

SAND price promotion | Source: TradingView

What is interesting is that this rally is different because it was not born out of FOMO. Previously, FOMO investors who bought during the hype (when the all-time high was $ 3.2) suffered a loss in a 28% correction that naturally came afterward.

However, given SAND’s healthy growth this week, the chance of another 28% correction and network-wide surrender seems somewhat unlikely.

SAND is bucking the market downtrend and is up 88

Profit / loss indicator returns to neutral | The source: mood

Do investors act?

SAND is a whale token (whales make up 85% of total supply), so it’s no surprise that the average whale trade this week is $ 40 million, up from $ 80 million yesterday. .

1637418552 449 SAND is bucking the market downtrend and is up 88

Whale trade | Source: Santiment

However, with over $ 100,000 in trading volume accounting for only 88% of the $ 546 million, the remaining 12% ($ 63 million) is due to investor movements. Even so, any new investor will always have the fear of a whale sell-off in mind.

However, due to the very high volume and social dominance, there is still a chance that new investors will join the network. In addition, the speed of network expansion continues to increase day by day.

sand

Social mass (pink) and dominance rate (red) | The source: mood

Since SAND’s correlation with Bitcoin remains at -0.5, it will decrease as BTC increases. Hence, investors can monitor this indicator to find out when the price is falling. If the correlation rises to 1, the SAND also follows the overall market trend.

sand

Correlation of SAND and BTC | The source: Intotheblock

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

At home at home

According to AMBCrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page

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