Why The Sandbox's Cryptocurrency Is Sinking Today

The cryptocurrency market is tumbling Tuesday, and The Sandbox (CRYPTO: SAND) is getting caught up in the pullback. As of 1:30 p.m. ET, the metaverse-focused token was down roughly 3.9% over the previous 24-hour period. 

The Sandbox now has a market capitalization of roughly $4 billion, which makes it the 40th largest cryptocurrency by valuation. Out of the top 40 cryptocurrencies, only six have posted any gains in the past day's trading -- and half of those are stablecoins designed to stay near the $1 price point. 

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Source Fool.com