Hashed Moves Millions of SAND Tokens to Binance, Triggering Renewed Bullish Momentum

A wallet linked to Hashed, a prominent Korean blockchain investment firm, recently transferred a large amount of SAND tokens to Binance.

A wallet linked to Hashed, a prominent Korean blockchain investment firm, has just transferred a large amount of SAND tokens to Binance.

According to data from Onchain Lens, the wallet deposited 18.45 million SAND, valued at approximately $5.79 million, into the exchange in the last hour.

This transaction continues a trend of notable activity, as the same address moved a total of 36.9 million SAND, worth around $12.13 million, to Binance over the past 15 days.

Hashed (@hashed_official) deposited 18.45M $SAND ($5.79M) to #Binance.

In the past 15 days, they have deposited 36.9M $SAND worth $12.13M into #Binance.

Address: 0xf1db561ef1452c7e88c24ed438e546d3019e1b06https://t.co/z932G8k79R pic.twitter.com/s3nGLYSrKg

The current market price of SAND is $0.3097, reflecting a daily gain of 3.38%. The 24-hour trading volume has reached $59.63 million.

The token began the day at $0.2993 and experienced a brief dip before rallying to a high of $0.316. While a slight pullback followed, the price has since stabilized with stronger buyer interest. The $0.299 to $0.300 range now provides a strong support zone, whereas $0.316 serves as a key resistance level.

Moreover, the price trend shows higher lows, which signals increasing confidence among buyers. This is especially important as the market reacts to large-scale transfers like Hashed’s, which might create uncertainty. However, the price action suggests that the bulls are not giving up despite potential sell pressure from major token holders.

As for key indicators, the MACD shows slight bearish momentum with its line at 0.0029 and the signal line at 0.0067. The histogram remains slightly negative, implying neutral momentum.

The RSI is currently at 49.00, slightly below the neutral threshold of 50. This indicates a lack of strong buying or selling pressure, which might point to market consolidation.

In the derivatives market, SAND’s total open interest is $39.9 million, entirely derived from perpetual contracts. Binance holds the majority of this interest with $21.3 million.

Bybit and OKX follow closely with $9.8 million and $7.4 million, respectively. The increase in open interest by 2.28% over 24 hours hints at growing trader engagement, possibly in anticipation of increased volatility.