Introduction

Greetings, steemians! I'm excited to be a part of this fantastic competition. For this week's assignment, I'll be joining Professor @kouba01 and Professor @fredquantum's Team Fredquantum-kouba01 . So let's get started.

• The name and introduction of the project token, and which exchange can be traded on, project/technical/team background, etc

Sandbox metraverse's local token is the SAND token. It can be utilized to enhance your gaming experience in the virtual world. The token can be obtained by playing games in The Sandbox or by buying it on cryptocurrency exchanges. SandBox is a virtual world created by the Pixowl in the year 2011. SandBox is a cryptocurrency that runs on the Ethereum blockchain and can be used to buy and trade digital assets.

Sandbox is a play-to-earn game in the 3D metaverse that makes use of blockchain technology like as DeFi and NFTs. Sandbox NFTs can be traded for SAND tokens on the Sandbox Marketplace. In the SandBox metaverse, SAND can be used to purchase NFTs. The token allows its owners to participate in the management of the company. The token gives its holders the opportunity to participate in controlling of the SandBox metaverse. In the SandBox metaverse, SAND can be used to purchase NFTs. The coin allows its holders to participate in the management of the SandBox metaverse.

SAND Team

As seen in the image below, Arthur Madrid, Sebastien Borget, and others are the team that designed the SandBox and SAND.

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The SAND token has been listed on numerous exchanges, including Binance, FTX, Gate.io, Huobi, KuCoin, Poloniex, Bybit, Bithumb, and others, allowing it to be traded without violating any rules or regulations. The following is information about SAND that was obtained from coinmarketcap.

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Rank: #38

Marketcap: $3,599,027,709

Volume: $642,012,190

Volume/Marketcap: 0.1785

Circulating Supply: 1.14B SAND

• Why am I optimistic on this token today

I believe this token will grow since it has a very strong use case, and I noticed through my technical analysis chart that the coin has been in a downturn for quite some time, which is relevant to almost all crypto assets. For this research, I used median and RSI Indicator ,
Median Indicator is a trend-based, trend-catching indicator is the median indicator. To some extent, it gauges market direction and volatility. Simply said, it shows the median value of the chart's high and low points for a given duration of time. It makes use of ATR for this (Average True Range). It is a thick median line that acts as a moving average and is colored purple or green depending on whether the market is in a bear or bull market. Actually, the green band occurs when the median line crosses the same-length EMA, whereas the purple band appears when the median line crosses the same-length EMA.

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• Analysis of the Token

From the screenshot below, the thick median line that acts as a moving average and is colored purple or green depending on whether the market is in a bear or bull market. Actually, the green band occurs when the median line crosses the same-length EMA, whereas the purple band appears when the median line crosses the same-length EMA.. I spotted that the market has been in uptrend using a 5mins time frame and also the RSI indicator has not touched the overbought zone and the price is seen on resistance level couple of times. I took my entry since I want to trade for short time frame, with a profit to loss margin of 2:1 , RSI indicator was seen moving upward. So I placed trade with entry price of 3.16170 so I set my take profit at 3.18350 and stop loss at 3.16410

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The image below shows my orders carried out on binance exchange. So I placed trade with entry price of 3.16170 so I set my take profit at 3.18350 and stop loss at 3.16410 . So immediately I placed my trade I took the screenshot below.

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After some mins I recorded 7.62% profit image below.

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After some mins I discovered that the indicator change to purple which implies downtrend is about to set in the price so I have to change my take profit and stop loss to 3.19680 and 3.16410

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After Some time I noticed the trade hit my stop loss and I made profit of 0.0152 image below.

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Trade Info

Parameters	info
Entry	3.16170
Take Profit	3.18350
Stop Loss	3.16410
Ratio	1:2
Profit Made	$0.0152

• Your plan to keep it for a long time or when to sell it?

I don't intend to keep the trade over a long period of time because the volatility of the market, I just do short time trading just to take profit once the market exceed the stop loss order and am still a newbie in futures trading , I don't want liquidate my capital.

• Do you recommend everyone to buy? Give reasons for recommending or not recommending

From my analysis the token will still rise in future and it has a solid use case , I can advise anybody who has the fund to buy and hold for a long period of time because sooner or later the token will rise for sure and Token is worth investing in.

Conclusion

In this assignment I was able to trade SAND/USDT for the on binance future market and also analyze the SAND token. Like I said SAND is was one of the fastest growing token which invest in and make profit .

Am Thankful professor Professor @kouba01 and Professor @fredquantum for this wonderful lecture and also time.

Cc:
@kouba01
@fredquantum