Cryptocurrencies Price Prediction: Sandbox, Bitcoin & Crypto – European Wrap 25 November
|Sandbox hits fresh yearly high as on-chain metrics reach record highs
The Sandbox (SAND) continued its rally and hit a fresh yearly high of $0.8680 in the early Asian session on Monday after surging over 121% last week. However, at the time of writing, SAND retraces and stabilizes around $0.7600. The bullish outlook is supported by record-breaking open interest and weekly trading volumes. The on-chain metric shows decreasing selling pressure and reduced exchange supply, signaling strong bullish momentum ahead.
Bitcoin ETFs set to surpass Satoshi's holdings by year-end
US spot Bitcoin ETFs are on track to achieve a remarkable milestone by year-end, potentially surpassing Satoshi Nakamoto’s legendary Bitcoin holdings of around 1.1 million BTC. With strong price performance and rising institutional interest, Bitcoin ETFs are rapidly becoming major players in the cryptocurrency market, nearing the title of the largest Bitcoin holders globally. At the same time, these funds are closing in on gold ETFs in terms of assets under management (AUM).
Crypto recharged over the weekend
The crypto market has recharged over the weekend. Positive traction resumed on Monday after the crypto market's total capitalisation shrank by 150 billion from Saturday's high near $3.39 trillion to Sunday's low. We saw more profit-taking by retail traders, and buying resumed during trading hours, setting the stage for inflows from institutional traders due to increased risk appetite in global markets.
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