Hello Steamians... welcome to my second trade post for this week trading contest. Still in the **Team Reminane** I'm making a post of my trade on SAND/USDT pair. Here's detail of the post below. ![COLLAGE_20220302_222102_1646256325845.jpg](https://cdn.steemitimages.com/DQmZuwN6Ux5FXXDG2gjD4tYAJr6owtMUopbc6yPr17PQnC8/COLLAGE_20220302_222102_1646256325845.jpg) ![COLLAGE_20210731_021535.jpg](https://cdn.steemitimages.com/DQmQS6KFWvcw3QSY77aA8hwspDaPJe8UAg2MghpL1Z1zxuy/COLLAGE_20210731_021535.jpg) ### The name and introduction of the project token, which exchanges it can be traded on, project / technical information of the coin/ team background, etc. ![COLLAGE_20210731_021535.jpg](https://cdn.steemitimages.com/DQmQS6KFWvcw3QSY77aA8hwspDaPJe8UAg2MghpL1Z1zxuy/COLLAGE_20210731_021535.jpg) ### SAND/USDT SAND also known as Sandbox is a cryptocurrency and it is also a gaming platform. Sandbox is a blockchain virtual world which grant users access to originate, build, purchase and sell digital assets as games in the sandbox community. Sandbox is a decentralized gaming community, the sandbox was able to grow as a gaming platform due to it's connection with NFTs . Sandbox Network uses the proof-of-stake consensus mechanism, whereby users can stake their tokens and get benefits. #### The SAND Token SAND is a utility token which runs on the Sandbox ecosystem. The SAND token is the native token of Sandbox network and it is used on the ecosystem for interactions and transactions, we can say the SAND token fuels the Sandbox platform. SAND is a utility token which is a version of ERC-20 token and it is built on Ethereum blockchain. Users who have the token gain access to the platform, and can use the token to participate in gaming, they can also use the token to purchase in-game and also use it for customizing of avatars. Holders of SAND are given governance power on the platform, meaning they have voting rights on the platform. The SAND token is also used by users to stake and earn more SAND on the platform. They also use the token to create assets in form of games on the platform. The finite Total and Maximum supply of the token is 3,000,000,000 SAND tokens. Out of the Total supply of the token 25.82% was set aside as reserve for the company. 17.18% was set aside for seed sales of the SAND token. 31% was for the founders of the token. 12% was for Launchpad sale on Binance. 10% were for reward to advisors of the SAND project. #### SAND Development Team Sandbox was launch in the year 2011 and it was developed by Pixowl under the leadership of Arthur Madrid who is the CEO at Pixowl. Arthur Madrid is a co-founder and was the main force behind the SAND development. Sebastien Borget served as the Chief Operating Officer of Pixowl, he is also a co-founder of the company. #### Objective of the project The main objective of the sandbox is to revolutionize the gaming market by introducing a blockchain technology into the gaming industry whereby players play games on the platform to earn. And also giving a room for users to be game creators on the platform. #### Where SAND can be traded SAND can be bought and sold on digital currency exchanges where the SAND token is offered. Exchanges that offers the SAND token includes; * Binance * Uniswap * Huobi * Gate.io * LATOKEN * Crypto.com * Upbit etc. Among the above mentioned exchanges that offers the SAND token, Binance has the highest trading SAND volume. ![COLLAGE_20210731_021535.jpg](https://cdn.steemitimages.com/DQmQS6KFWvcw3QSY77aA8hwspDaPJe8UAg2MghpL1Z1zxuy/COLLAGE_20210731_021535.jpg) ### Why you are optimistic about this token today, and how long do you u wish it can rise. ![COLLAGE_20210731_021535.jpg](https://cdn.steemitimages.com/DQmQS6KFWvcw3QSY77aA8hwspDaPJe8UAg2MghpL1Z1zxuy/COLLAGE_20210731_021535.jpg) From historical price data of SAND, the token started gaining momentum when the Sandbox ecosystem started partnering with CionMarketCap for the release of NFT on metaverse. It is also partnering with many other popular platforms, personalities, and organizations such as the popular TV series **The Walking Dead and the Smurfs**, the US rapper **Snoop Dogg**, **Galaxy Interactive**, **Adidas Originals**, **Liberty City Ventures**, and also with the global fashion brand **Gucci**. I'm therefore optimistic about the token because I believe that all of these partnership will support the price of the token to gain momentum and scale up in growth. I'm also optimistic about the SAND token because the network has a great foundation as it is a decentralized blockchain. Also considering the historical price data of SAND, the price of the token has been scaling from the rate of $0.05096 since it's launch in 15 August 2020 untill it reaches it's all-time high of $8.4022 on the 25th of December 2021 showing a strong growth potential. However, following the overall drop in all cryptocurrencies, the price of SAND has also drop to $3.25 but with the drop in the price of SAND not withstanding I'm very optimistic about the token that is has great growth potential. The current price of SAND at the time of this research, 2nd of March 2022 was $3.25 with a 24 hours trading volume of $1,250,698,339. The SAND token is ranked #37 on CoinMarketCap. More statistical data of SAND is shown on the image below. ![COLLAGE_20220302_212854.jpg](https://cdn.steemitimages.com/DQmPicebM8oFx8D5zePQpiRttruSDibYY49Zei4Eer6XJBf/COLLAGE_20220302_212854.jpg) From [CoinMarketCap.com](https://coinmarketcap.com/currencies/the-sandbox/) ![COLLAGE_20210731_021535.jpg](https://cdn.steemitimages.com/DQmQS6KFWvcw3QSY77aA8hwspDaPJe8UAg2MghpL1Z1zxuy/COLLAGE_20210731_021535.jpg) ### How to analyze the token? (This can technical analysis and trading strategies learned from professor's courses) - This section is very important. ![COLLAGE_20210731_021535.jpg](https://cdn.steemitimages.com/DQmQS6KFWvcw3QSY77aA8hwspDaPJe8UAg2MghpL1Z1zxuy/COLLAGE_20210731_021535.jpg) In this section I'll enter a trade using technical analysis on SAND/USDT inorder to be able to spot a good entry in the market to place my trade order. I carried out the technical analysis of SAND on TradingView.com after whichI went to Binance to place my trade. Below is a screenshot of my technical analysis on the SAND/USDT chart. ![IMG-20220302-WA0013.jpg](https://cdn.steemitimages.com/DQmWkPsK9in9vS2nk9id1N1ZmmT15jsCrjYrnqsRQBNS4LC/IMG-20220302-WA0013.jpg) [TradingView.com](https://www.tradingview.com/) Looking at the price action of the 5M chart, it's on a downtrend and has failed to break the strong resistance around 3.3500. However, the EMAs signals a downtrend as the price break below the EMAs. This was a clear confirmation, then I placed my sell Entry around 3.2338 and Take Profit around 3.1980 while my Stop-loss was around 3.2672. My sell order triggered, then I was expecting it to hit the take profit but something happened it hits Stop-loss again. I don't know what's happening. I believe one day I will get it right. The below image shows the transaction details. ![IMG-20220302-WA0014.jpg](https://cdn.steemitimages.com/DQmNPsnBVRCi4qyQVMxc8JA4fCvbioRxZ9qUpRtdBRibJrJ/IMG-20220302-WA0014.jpg) **SAND/USDT sell history** from my Binance account ![COLLAGE_20210731_021535.jpg](https://cdn.steemitimages.com/DQmQS6KFWvcw3QSY77aA8hwspDaPJe8UAg2MghpL1Z1zxuy/COLLAGE_20210731_021535.jpg) ### Your plan to hold it for a long time or when to sell. ![COLLAGE_20210731_021535.jpg](https://cdn.steemitimages.com/DQmQS6KFWvcw3QSY77aA8hwspDaPJe8UAg2MghpL1Z1zxuy/COLLAGE_20210731_021535.jpg) Before going into the trade I did not have plans of holding it hence the use of Margin (Future) trading strategy. Once the market hit my target of stop loss or take profit, I'll exit the market. ![COLLAGE_20210731_021535.jpg](https://cdn.steemitimages.com/DQmQS6KFWvcw3QSY77aA8hwspDaPJe8UAg2MghpL1Z1zxuy/COLLAGE_20210731_021535.jpg) ### Do you recommend everyone to buy this token? Give reasons for your answer. ![COLLAGE_20210731_021535.jpg](https://cdn.steemitimages.com/DQmQS6KFWvcw3QSY77aA8hwspDaPJe8UAg2MghpL1Z1zxuy/COLLAGE_20210731_021535.jpg) From the overview of SAND above we have come to the understanding that the SAND token has a strong foundation and it has been scaling in growth since it's launch. I therefore recommend that traders and investors buy the token as it has great potential to appreciate more in future. My recommendation for short-term traders is that they perform a proper technical analysis on the SAND token before entering the market inorder to be able to spot a good entery positions so as to make good trading decisions. For long-term traders, a proper fundamental analysis should be conducted on the token as it is good to be our own analyst and not depend on other people's analysis to make trading decisions. ![COLLAGE_20210731_021535.jpg](https://cdn.steemitimages.com/DQmQS6KFWvcw3QSY77aA8hwspDaPJe8UAg2MghpL1Z1zxuy/COLLAGE_20210731_021535.jpg) **Note:** It is wrong to trade any token based on sentimental analysis, we should make it an habit to always conduct our own analysis. Thanks @reminiscence01 for the guidelines, it really helped me in carrying out this trade. Cc:- @reminiscence01 @nane15