The Sandbox (SAND) price rose over 60% in January, driven largely by trading activity on South Korea's Upbit exchange and renewed interest in the gaming/metaverse sector. Despite strong momentum, a large portion of SAND tokens (over 33% of total supply) is held on centralized exchanges, heightening the risk of significant sell pressure. Analysts warn that the rally may be speculative without sustained infrastructure growth and wider market recovery, signaling caution for traders.