Takeover rumors cause The Sandbox (SAND) to soar

Metaverse project The Sandbox (SAND) has surged more than 23 percentage points north in the last 48 hours of trading on renewed rumors of a potential acquisition by META .

News of a possible takeover bid for The Sandbox by Mark Zuckerberg's social media company META circulated on social media yesterday afternoon .

According to unconfirmed sources, a purchase price of 4 billion US dollars was offered.

The company's co-founder and COO, Sebastien Borget, promptly responded to this suspicion via Twitter . He categorically ruled out a takeover.

Investors were nevertheless unimpressed by Borget's negative reaction and in the last few hours of trading bought not only the cryptocurrency SAND but also other metaverse tokens such as Decentraland (MANA) and Apecoin (APE), which also saw double-digit increases in value.

Recently, investor interest in cryptocurrencies from the Metaverse sector had cooled off significantly.

As a result, the prices of many Metaverse projects came under significant pressure and were recently listed well below their highs.

Investors should keep a close eye on whether the renewed hype about potential takeovers in the Metaverse sector can also generate new buying impulses for The Sandbox and its competitors in the medium term.

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