Open Terminal →
PASS

The Sandbox (SAND)

-99.4% ATH. 4,500 DAU. Founders ousted. 50% layoffs. Staking dead. $312K daily vol. Metaverse narrative buried.

Ranked 246th of 251 rated tokens. Scoring pass 11 Jun 2026.

Score
58/250
246th of 251
Percentile
2.4%
of the rated universe
Circulating
100%
0% of value still to vest
Off all-time high
-99.51%
204.1x to recover
EthereumERC-20-10 since last pass
01

What the numbers say

SAND scores 58 of 250 across the 25-variable framework, which places it 246th of 251 rated tokens and inside the bottom 10% of the set. The framework verdict is PASS.

The score rests on Vesting Schedule 6/10, 59th of 251 and Supply Inflation 5/10, 61st of 251.

Against the same universe, SAND sits in the bottom third on Insider Selling 1/10, 249th of 251, Market Share 1/10, 245th of 251, Smart Money Flows 1/10, 243rd of 251 and Active Users 1/10, 243rd of 251. These are the variables that would have to move for the verdict to change.

100% of eventual supply is already circulating, so vesting is not a live risk for SAND. Price has to be justified by demand rather than absorbed against a cliff.

SAND trades 99.51% below its all-time high of $8.40. Recovering that level is a 204.1x move, not a 99.51% one, which is the arithmetic most drawdown charts hide.

The framework score lost 10 points against the previous pass (68 to 58). Revisions of this size follow a change in the underlying variables, not a change in price.

02

25-variable breakdown

Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.

Cash flow

Cash flow variables for SAND, scored 1 to 10 and ranked against 251 tokens
Protocol Revenue
1221st of 251
Revenue Trend
1231st of 251
P/S Multiple
2218th of 251
Real Staking Yield
1226th of 251

Supply

Supply variables for SAND, scored 1 to 10 and ranked against 251 tokens
Supply Inflation
561st of 251
Vesting Schedule
659th of 251
Circulating / FDV Ratio
688th of 251
Buyback and Burn
1205th of 251

Ownership

Ownership variables for SAND, scored 1 to 10 and ranked against 251 tokens
Smart Money Flows
1243rd of 251
Insider Selling
1249th of 251
Holder Concentration
2240th of 251

Traction

Traction variables for SAND, scored 1 to 10 and ranked against 251 tokens
TVL Trend
1229th of 251
Active Users
1243rd of 251
Developer Activity
3208th of 251
Network Growth
2215th of 251

Position

Position variables for SAND, scored 1 to 10 and ranked against 251 tokens
Market Share
1245th of 251
Competitive Moat
2223rd of 251
Institutional Adoption
2192nd of 251
Exchange Depth
4157th of 251
Social Mindshare
2230th of 251

Risk

Risk variables for SAND, scored 1 to 10 and ranked against 251 tokens
Regulatory Safety
4213th of 251
Catalyst Calendar
3158th of 251
BTC Alpha Potential
1240th of 251
Team Execution
2230th of 251
Treasury Runway
3226th of 251

The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.

03

Catalyst and risk

Next catalyst

Sandbox NEXT mobile (UE5) full launch + SANDchain mainnet + Animoca Nasdaq Q3 2026

Principal risk

Animoca confirmed selling SAND pre-Nasdaq. Zero revenue. Zero burn. Zero staking. 333M SAND in insider wallets.

04

Market and supply

Price$0.0412
Market cap$123.7Mrank 241
All-time high$8.4025 Nov 2021
Circulating supply3,000,000,000
Eventual supply (max supply)3,000,000,000
Dilution to full supply1x
Listed onBinance, Bybit, Coinbase

Price, market cap, supply and all-time high from CoinGecko, fetched 6 Aug 2026. The 25 scores come from the research pass dated 11 Jun 2026 and don't move with price.

05

Tokens with a similar profile

These are the closest matches to SAND measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.

IOTA78/250
IOTA
PASS · profile match 91%
MANA66/250
Decentraland
PASS · profile match 88%
ANKR96/250
Ankr Network
PASS · profile match 86%
THETA105/250
Theta Network
WATCH · profile match 85%
AGLD86/250
Adventure Gold
PASS · profile match 84%
QTUM61/250
Qtum
PASS · profile match 84%
06

Sources

  • [CoinMarketCap Analysis] On-chain DAU approximately 4,500 (May 2026)
  • [CoinDesk] 50%+ workforce cut (~250 employees), offices closed in Argentina, Uruguay, S. Korea, Thailand, Turkey, Lyon
  • [Blockworks] Arthur Madrid removed from CEO → Non-Exec Chairman. Borget removed from COO → Global Ambassador
  • [Cryptopolitan] Animoca deposited 25M+ SAND ($8.65M) to Binance in November 2024
  • [OpenSea / Messari] LAND floor 0.036 ETH (~$65), -98% from peak 2.86 ETH. 12 daily LAND buyers (Q1 2025 Messari)
  • [PlayToEarn] Alpha Season 7: 32 experiences, 650K SAND rewards ($34K). Season 5+6 combined: 144K players
  • [Sandbox Docs] Staking rewards TERMINATED June 26, 2025. No replacement program.
  • [PRNewswire] Sandbox NEXT mobile playtest (UE5, extraction survival) March 26-29 + April 2-9, 2026
  • [Caldera] SANDchain (ZKsync L2) testnet Oct 14, 2025. Mainnet target 2026, not yet launched.
  • [Bloomberg] Animoca Nasdaq listing via reverse merger with Currenc Group, target Q3 2026
  • [CryptoBriefing] Meme coin launchpad pivot on Base announced Aug 2025, then walked back/denied
  • [Animoca Brands] Animoca moved SAND reserves off-balance-sheet in Mar 2024. $2.9B total off-BS token reserves (Q4 2024)
07

Common questions

What is the Early Thunder score for The Sandbox (SAND)?
SAND scores 58 out of 250 on the 25-variable framework, ranking 246th of 251 rated tokens (bottom 10%). The framework verdict is PASS.
What are SAND's strongest fundamentals?
SAND ranks highest on Vesting Schedule 6/10, 59th of 251 and Supply Inflation 5/10, 61st of 251. Ranks are measured against all 251 tokens in the same scoring pass.
What are the weakest parts of the SAND thesis?
SAND scores in the bottom third of the universe on Insider Selling 1/10, 249th of 251, Market Share 1/10, 245th of 251, Smart Money Flows 1/10, 243rd of 251 and Active Users 1/10, 243rd of 251. The single risk carried on the scorecard is: Animoca confirmed selling SAND pre-Nasdaq. Zero revenue. Zero burn. Zero staking. 333M SAND in insider wallets.
How much SAND supply is still to enter circulation?
100% of eventual SAND supply is circulating today, leaving 1x the current float still to arrive. At a flat price per token that is 0% of fully diluted value ahead of current holders.
How far is SAND from its all-time high?
SAND trades 99.51% below its all-time high of $8.40. Returning to that high requires a 204.1x move from the level used in this scoring pass.
Which tokens have a similar profile to SAND?
Measured on the shape of all 25 scored variables rather than on price, the closest matches to SAND are IOTA (78), MANA (66), ANKR (96) and THETA (105). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
What is the next catalyst for SAND?
Sandbox NEXT mobile (UE5) full launch + SANDchain mainnet + Animoca Nasdaq Q3 2026

Keep reading

The Sandbox full research noteOn-chain detail, team, tokenomics, competitive position and the standing verdict.Every token rated PASSThe full band ranked by score, with what the group is collectively strong and weak on.All 251 rated tokensThe full ranking table and the method behind the 25 variables.

Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.