5 Cryptocurrencies Redditors Will Never Buy Again

2. The Sandbox USD (CCC:SAND-USD)

Market Capitalization: $1.685 billion

The Sandbox USD (CCC:SAND-USD) is the main utility and native currency for the Sandbox blockchain platform.

Sandbox is a blockchain-based virtual world that allows users to create, buy and sell crypto assets by creating them as games. The decentralized platform brings into play decentralized autonomous organizations (DAOs) and NFTs for its functioning. As it is a metaverse-focused token, the Reddit community thinks that the Sandbox USD (CCC:SAND-USD) could have a challenging future due to the presence of notable tech giants like Meta Platforms, Inc. (NASDAQ:META), establishing its position in the metaverse industry. JPMorgan anticipates that the metaverse will be an $8 trillion market by 2030.

The Sandbox USD (CCC:SAND-USD) is currently trading at $1.25, down from its all-time high of $8.4o in November 2021. The currency has recorded a decline of over 80% from November 2021.