Monat: April 2022

While the majority of the coins are making significant gains, Atari Token (ATRI) is nose diving.

At the time of writing, Atari Token is trading at $0.012993 after hitting a daily high of $0.0183 and a daily low of $0.01112.

But why is the token price dropping? In this article, we will focus on all the possible reasons for the downtrend.

Why is Atari Token price plummeting?

Before we go into the details as to why the token is dipping, let’s first understand what Atari is.

Atari Token is a decentralized cryptocurrency launched on the Ethereum blockchain to establish a universal mode of payment in the Atari video gaming space as well as allow publishers and developers to have a new way of monetizing their products.

Let’s now take a look at why is the token price tumbling.

Atari terminates its partnership with ICICB Group

One of the main reasons for the dip is the Atari, the gaming company, announcement in a news release that it has terminated its partnership with ICICB Group.

 The two companies had teamed up to launch the crypto and also Atari branded hotels across the globe.

This was back in 2020 when the hotels had announced that they will be accepting ATR as a mode of payment, where the gaming brand was to receive a 5% cut-off of all the revenues from the business venture with each venue set to offer immersive video game theme.

This was a big blow to the crypto and its holders. Following the news, the token has been on a downtrend.

However, it’s not clear what altered the deal, but the covid 19 pandemic might have contributed to some length of their plans to build extravagant accommodations worldwide.

Atari told the investors that the ICICB group is not authorized to represent the Atari brand on any of its official websites, social media channels, or whitepapers.

Reimbursing its holders

Despite all that, On Monday afternoon, April 18, 2022, a snapshot of all the ATRI holders was taken and a new exchange platform will be launched at a later date, therefore investors don’t have to worry.

The post Why has Atari Token (ATRI) dropped by over 25% today? appeared first on Coin Journal.

SAND price has been rising since April 17 and the bullish trend is gaining momentum every day.

At the time of writing, SAND was trading at $2.94; up 11.18% in the last 24 hours. It has hit a daily high of $2.99 and a daily low of $2.61.

Currently, its trading volume is $522.46 million which is much higher than the one it had on April 17 trading volume of $225.07 million.

In this article, we will focus on the factors causing the price of SAND to rally.

Why is SAND price rising?

Before we go into the details of the current price rally, let’s first lay a state what is The Sandbox and what is SAND.

The Sandbox is a blockchain-based online game owned by Amonica Brands Corporation that allows users to create, sell and buy digital assets. It was launched in 2011 and SAND is its native token.

Now onto the reasons behind the current rally.

Plan to raise $400 million

One of the main reasons that have attributed to the current price upswing is Bloomberg comment that the team behind the The Sandbox is planning to raise another $400 million; something that will see its valuation jump to $4 billion from both existing and new investors.

It is important to note that The Sandbox had a similar fundraising project in November last year 2021, where it was able to raise $93 million led by Softbank. 

However, the team has not yet set the grounds on which the fundraising will be carried out since this will be influenced by the markets.

The Sandbox gameplan

This time round The Sandbox has a clear game plan for having its Metaverse platform. 

Besides, The Sandbox had attracted prominent organizations like HSBC, a British banking organization, where they had partnered earlier this year after the organization was interested in buying a virtual real estate, LAND.

Rumors of The sandbox conducting an IPO

There have been rumours of The Sandbox conducting an Initial Public Offering (IPO), but The Sandbox Co-founder and chief operating officer, Sebastien Borgen disapproved the rumors.

The post $SAND price has gained more than 10% today: here is why appeared first on Coin Journal.