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Unverified users can still withdraw staked SAND but will be unable to make further deposits. Metaverse platform The Sandbox will require Know Your Customer (KYC) verification for its staking processes, according to an Aug. 3 announcement.  The announcement stated that only verified users could deposit SAND, the platform's native token, and claim staking rewards, while non-verified users will be placed into withdraw-only mode. Data from blockchain analytics firm Messari shows that 123 million, or 6.7% of the token's circulating supply, is currently staked by users. The Sandbox developers wrote: "To enhance user security and compliance, we have implemented KYC verification for our staking process. Our goal is to ensure that our users' accounts are verified before they can participate in staking or claim their earnings." On June 6, Cointelegraph reported that SAND was one of 68 cryptocurrencies the U.S. Securities and Exchange Commission (SEC) deemed to be a secu...

Gaming-related cryptocurrencies had a stellar start in 2023, as the majority of tokens jumped more than 50% in 30 days. Sandbox gained the highest as it spiked 85% in January, reaching from $0.40 to a high of $0.74 in four weeks. SAND attracted heavy bullish sentiments this year, making its market cap to reclaim the $1 billion mark. The token is hovering around $0.71 on Tuesday and is looking to break through its previous resistance level of $0.74. Another leg-up could take SAND to new highs after it plummeted below $1 in September of last year. Also Read: Ripple: AI Predicts XRP Price for Feb 28, 2023 Source: TradingView.com Can Sandbox Reach $1 in February 2023? Source: The Sandbox Sandbox nearly doubled in price in January and is looking to complete a full circle of a 100% rise in the indices. Pseudonymous cryptocurrency analyst Cantering Clark believes that the play-2-earn token could surge this month given the strength of the gaming sector. Also Read: Bitcoin To ...