Trending Altcoins in Nigeria: SAND, AURA, and TAO
The post Trending Altcoins in Nigeria: SAND, AURA, and TAO appeared on BitcoinEthereumNews.com. Nigerian traders are shifting focus as the broader crypto market navigates recent headwinds. While Bitcoin, Ethereum, and stablecoins remain the primary pillars of local trading activity, there is a growing appetite for a few altcoins. To better understand this trend, BeInCrypto spoke with Ayotunde Alabi, Country Manager at Luno Nigeria, a regional branch of the global crypto exchange Luno, which operates in over 40 countries. Alabi highlighted some altcoins gaining traction recently on Luno and what their popularity reveals about Nigeria’s evolving crypto culture. The Sandbox (SAND) According to Alabi, SAND, The Sandbox’s native utility token, is one of the altcoins that has recently gained traction in the region. “SAND is gaining traction as interest in metaverse gaming and NFTs continues to grow,” Alabi noted. This is a particularly interesting trend, given the broader global decline in interest in NFTs and metaverse assets. Over the past 30 days, NFT sales volume has plunged by over 21%, and total NFT transactions completed are down 26% during the same period. Total NFT Sales Volume. Source: CryptoSlam Moreover, SAND’s price performance has remained lackluster over the past few days. At press time, the altcoin trades at $0.25, down 7% over the past week. On the daily chart, its Relative Strength Index (RSI) is below the 50-neutral line, confirming the low demand for the altcoin. The RSI indicator measures an asset’s overbought and oversold market conditions. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound. At 39.22 and falling, SAND’s RSI hints at falling demand. If this continues, the token’s price could fall to $0.21. SAND Price Analysis. Source: TradingView However, a rebound in demand could send its price upward to $0.41. Aura…
The post Trending Altcoins in Nigeria: SAND, AURA, and TAO appeared on BitcoinEthereumNews.com.
Nigerian traders are shifting focus as the broader crypto market navigates recent headwinds. While Bitcoin, Ethereum, and stablecoins remain the primary pillars of local trading activity, there is a growing appetite for a few altcoins. To better understand this trend, BeInCrypto spoke with Ayotunde Alabi, Country Manager at Luno Nigeria, a regional branch of the global crypto exchange Luno, which operates in over 40 countries. Alabi highlighted some altcoins gaining traction recently on Luno and what their popularity reveals about Nigeria’s evolving crypto culture. The Sandbox (SAND) According to Alabi, SAND, The Sandbox’s native utility token, is one of the altcoins that has recently gained traction in the region. “SAND is gaining traction as interest in metaverse gaming and NFTs continues to grow,” Alabi noted. This is a particularly interesting trend, given the broader global decline in interest in NFTs and metaverse assets. Over the past 30 days, NFT sales volume has plunged by over 21%, and total NFT transactions completed are down 26% during the same period. Total NFT Sales Volume. Source: CryptoSlam Moreover, SAND’s price performance has remained lackluster over the past few days. At press time, the altcoin trades at $0.25, down 7% over the past week. On the daily chart, its Relative Strength Index (RSI) is below the 50-neutral line, confirming the low demand for the altcoin. The RSI indicator measures an asset’s overbought and oversold market conditions. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound. At 39.22 and falling, SAND’s RSI hints at falling demand. If this continues, the token’s price could fall to $0.21. SAND Price Analysis. Source: TradingView However, a rebound in demand could send its price upward to $0.41. Aura…
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