On-Chain Data Monitoring Agency Arkham Recently Detected an Interesting Trend. On January 2nd, within two hours, a total of 27 million SAND tokens were gradually transferred from a wallet address that was created just three days ago to several leading exchanges, with a total value of approximately $3 million.

What’s even more interesting is the traceability of the transactions. These tokens originally came from the Gnosis Safe Proxy address managed by The Sandbox official team, then passed through an intermediary wallet that was previously associated with Animoca Brands, before finally entering the newly created address and flowing to major trading platforms.

This multi-layered transfer path design appears to be quite cautious. From the timing perspective, completing the entire process of creation, transfer, and large-scale outflow within three days raises questions about whether this is a normal liquidity operation by the project team or if there are other considerations. However, such a scale of SAND token transfers has already attracted the attention of on-chain analysts.