Sandbox (SAND), the native token of The Sandbox Metaverse, rose more than 13% yesterday after Coinbase, the largest crypto exchange in the United States, announced in a tweet that it intended to list SAND on its platform.
Assets added to the roadmap today: The Sandbox (SAND)
— Coinbase Assets (@CoinbaseAssets) May 20, 2022
Following the announcement, SAND became one of the top earners among gaming tokens with its trading volume jumping 224.90% to over $1.2 billion.
At the time of writing, SAND had pulled back slightly to trade at $1.29 after hitting a daily high of $1.38 following the Coinbase announcement.
SAND Featured on Coinbase Roadmap
Coinbase previously said it would add 6 SPL tokens to the Solana network and around 45 different ERC-20 tokens to the Ethereum network.
Gaming tokens have been hit hard by the crypto market bloodbath, with the SandBox token dropping 54% in the past month, however, its latest surge appears to be recouping the loss.
For the token to be energy efficient, greener and cheaper, the ecosystem will switch to Polygon Matic, OxPolygon.
Improve Sandbox Web 3 development and Metaverse growth
Sandbox also announced that they have obtained full development technology from Cualit, a Uruguayan company with gaming experience. The company will help them build their blockchain innovations and Web 3 developments along with other development capabilities.
Welcome to The Sandbox Uruguay!
We are proud to announce the acquisition of the Uruguayan company @Cualita game-experienced full-stack development technology company, to power our #Web3 and the innovation and development capabilities of blockchain.https://t.co/f9xNSRQLB1
— The Sandbox (@TheSandboxGame) May 19, 2022
In the meantime, the cumulative market capitalization of coins in the gaming category has also increased by more than 9%, with their total valuation standing at $13.6 billion and trading volume increasing by 8. 5% to $4.9 billion.
Large ETH whales also appear to be embracing gaming tokens at a time when the general crypto market is trading sideways. WhaleStats shows that in the past 24 hours, top gaming tokens like ApeCoin (APE), Decentraland (MANA), and Axie Infinity (AXS) have joined the list of top 10 most purchased gaming tokens.