Hashed sends 18.45M SAND tokens to Binance

By: bitcoin ethereum news|2025/05/14 00:30:07
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Hashed deposit of 18.45 million SAND to Binance signals a possible sell-off. The Sandbox (SAND) price, which has risen by 32.6% over the week, has dropped 4.1% today. The key levels to watch are the support at $0.31 and the resistance at $0.3627. The Sandbox (SAND) has been capturing attention in the cryptocurrency market, with its price climbing 32.6% over the past week to $0.3517. Despite this impressive gain, the token has faced a 4.1% decline in the last 24 hours. Adding to the market dynamics, crypto investment firm Hashed recently deposited 18.45 million SAND tokens, valued at approximately $6.3 million, to Binance. Hashed( @hashed_official ) deposited 18.45M $SAND ($6.3M) to #Binance 2 hours ago. Hashed is very good at buying low and selling high—just last month, they withdrew 11.36M $SAND ($2.9M) from #Binance at $0.26. Since then, $SAND is up 35%.https://t.co/NbfRQu5wf2 pic.twitter.com/LYmx4WQxkG — Lookonchain (@lookonchain) May 13, 2025 This significant transaction has sparked discussions among traders and analysts about its potential impact on SAND’s price trajectory. Recent SAND price movements Over the past 24 hours, SAND has traded between $0.337 and $0.3706, reflecting the inherent volatility in the cryptocurrency market. Despite the recent dip, the token has shown resilience, with a remarkable 32.6% increase over the past seven days, moving from a low of $0.2641 to a high of $0.3679. Looking at a broader timeframe, SAND has gained 17.4% over the last 14 days and 33.2% over the past month, indicating a strong upward trend. However, it’s worth noting that over the past year, the token has decreased by 16.7%, highlighting the cyclical nature of cryptocurrency investments. Impact of Hashed’s strategic token movement Notably, today’s SAND transaction, valued at around $6.3 million, follows a strategic withdrawal by Hashed last month. On April 10, 2025, at 3:00 PM UTC, Hashed withdrew 11.36 million SAND tokens from Binance when the price was $0.26, totalling $2.9 million. Since then, SAND’s price has appreciated by 35%, reaching $0.35 before the recent deposit. Today’s deposit of such a large amount of SAND to Binance could signal that Hashed is preparing to sell, which might put downward pressure on the price. This is especially relevant given the increased trading volume observed after the deposit. Immediately after the deposit, trading activity surged, with volume on the SAND/USDT pair jumping to over 25 million SAND in the subsequent hour. This was significantly higher than the previous 24-hour average of 15 million SAND. The heightened activity suggests that traders are reacting swiftly to the news, possibly anticipating a price movement. From a technical perspective, the Relative Strength Index (RSI) is at 64 after briefly entering the overbought region on the daily chart, suggesting that while SAND has been on an upward trend, it is currently cooling off in anticipation of the next move. The MACD is also signalling a retracement with a declining histogram and the MACD and signal lines converging. If the price falls below the support at $0.31, we could witness a retest of the support at around $0.27. However, if the $0.31 support holds and the resistance at $0.3627 is broken, the token could regain its bullish momentum, propelling it towards $0.41. However, it’s important to note that the broader cryptocurrency market has been experiencing mixed sentiments, which could influence risk appetite for assets like SAND, although metaverse and gaming tokens, including SAND, have been gaining traction recently, driven by renewed investor interest in virtual reality projects. Keeping an eye on trading volumes, technical indicators, and broader market sentiments will be crucial for those looking to capitalise on or hedge against potential price swings in the coming days. Source: https://coinjournal.net/news/the-sandbox-price-prediction-amid-hasheds-deposit-of-18-45-million-sand-tokens-to-binance/

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Before using Musk's "Western WeChat" X Chat, you need to understand these three questions

The X Chat will be available for download on the App Store this Friday. The media has already covered the feature list, including self-destructing messages, screenshot prevention, 481-person group chats, Grok integration, and registration without a phone number, positioning it as the "Western WeChat." However, there are three questions that have hardly been addressed in any reports.


There is a sentence on X's official help page that is still hanging there: "If malicious insiders or X itself cause encrypted conversations to be exposed through legal processes, both the sender and receiver will be completely unaware."


Question One: Is this encryption the same as Signal's encryption?


No. The difference lies in where the keys are stored.


In Signal's end-to-end encryption, the keys never leave your device. X, the court, or any external party does not hold your keys. Signal's servers have nothing to decrypt your messages; even if they were subpoenaed, they could only provide registration timestamps and last connection times, as evidenced by past subpoena records.


X Chat uses the Juicebox protocol. This solution divides the key into three parts, each stored on three servers operated by X. When recovering the key with a PIN code, the system retrieves these three shards from X's servers and recombines them. No matter how complex the PIN code is, X is the actual custodian of the key, not the user.


This is the technical background of the "help page sentence": because the key is on X's servers, X has the ability to respond to legal processes without the user's knowledge. Signal does not have this capability, not because of policy, but because it simply does not have the key.


The following illustration compares the security mechanisms of Signal, WhatsApp, Telegram, and X Chat along six dimensions. X Chat is the only one of the four where the platform holds the key and the only one without Forward Secrecy.


The significance of Forward Secrecy is that even if a key is compromised at a certain point in time, historical messages cannot be decrypted because each message has a unique key. Signal's Double Ratchet protocol automatically updates the key after each message, a mechanism lacking in X Chat.


After analyzing the X Chat architecture in June 2025, Johns Hopkins University cryptology professor Matthew Green commented, "If we judge XChat as an end-to-end encryption scheme, this seems like a pretty game-over type of vulnerability." He later added, "I would not trust this any more than I trust current unencrypted DMs."


From a September 2025 TechCrunch report to being live in April 2026, this architecture saw no changes.


In a February 9, 2026 tweet, Musk pledged to undergo rigorous security tests of X Chat before its launch on X Chat and to open source all the code.



As of the April 17 launch date, no independent third-party audit has been completed, there is no official code repository on GitHub, the App Store's privacy label reveals X Chat collects five or more categories of data including location, contact info, and search history, directly contradicting the marketing claim of "No Ads, No Trackers."


Issue 2: Does Grok know what you're messaging in private?


Not continuous monitoring, but a clear access point.


For every message on X Chat, users can long-press and select "Ask Grok." When this button is clicked, the message is delivered to Grok in plaintext, transitioning from encrypted to unencrypted at this stage.


This design is not a vulnerability but a feature. However, X Chat's privacy policy does not state whether this plaintext data will be used for Grok's model training or if Grok will store this conversation content. By actively clicking "Ask Grok," users are voluntarily removing the encryption protection of that message.


There is also a structural issue: How quickly will this button shift from an "optional feature" to a "default habit"? The higher the quality of Grok's replies, the more frequently users will rely on it, leading to an increase in the proportion of messages flowing out of encryption protection. The actual encryption strength of X Chat, in the long run, depends not only on the design of the Juicebox protocol but also on the frequency of user clicks on "Ask Grok."


Issue 3: Why is there no Android version?


X Chat's initial release only supports iOS, with the Android version simply stating "coming soon" without a timeline.


In the global smartphone market, Android holds about 73%, while iOS holds about 27% (IDC/Statista, 2025). Of WhatsApp's 3.14 billion monthly active users, 73% are on Android (according to Demand Sage). In India, WhatsApp covers 854 million users, with over 95% Android penetration. In Brazil, there are 148 million users, with 81% on Android, and in Indonesia, there are 112 million users, with 87% on Android.



WhatsApp's dominance in the global communication market is built on Android. Signal, with a monthly active user base of around 85 million, also relies mainly on privacy-conscious users in Android-dominant countries.


X Chat circumvented this battlefield, with two possible interpretations. One is technical debt; X Chat is built with Rust, and achieving cross-platform support is not easy, so prioritizing iOS may be an engineering constraint. The other is a strategic choice; with iOS holding a market share of nearly 55% in the U.S., X's core user base being in the U.S., prioritizing iOS means focusing on their core user base rather than engaging in direct competition with Android-dominated emerging markets and WhatsApp.


These two interpretations are not mutually exclusive, leading to the same result: X Chat's debut saw it willingly forfeit 73% of the global smartphone user base.


Elon Musk's "Super App"


This matter has been described by some: X Chat, along with X Money and Grok, forms a trifecta creating a closed-loop data system parallel to the existing infrastructure, similar in concept to the WeChat ecosystem. This assessment is not new, but with X Chat's launch, it's worth revisiting the schematic.



X Chat generates communication metadata, including information on who is talking to whom, for how long, and how frequently. This data flows into X's identity system. Part of the message content goes through the Ask Grok feature and enters Grok's processing chain. Financial transactions are handled by X Money: external public testing was completed in March, opening to the public in April, enabling fiat peer-to-peer transfers via Visa Direct. A senior Fireblocks executive confirmed plans for cryptocurrency payments to go live by the end of the year, holding money transmitter licenses in over 40 U.S. states currently.


Every WeChat feature operates within China's regulatory framework. Musk's system operates within Western regulatory frameworks, but he also serves as the head of the Department of Government Efficiency (DOGE). This is not a WeChat replica; it is a reenactment of the same logic under different political conditions.


The difference is that WeChat has never explicitly claimed to be "end-to-end encrypted" on its main interface, whereas X Chat does. "End-to-end encryption" in user perception means that no one, not even the platform, can see your messages. X Chat's architectural design does not meet this user expectation, but it uses this term.


X Chat consolidates the three data lines of "who this person is, who they are talking to, and where their money comes from and goes to" in one company's hands.


The help page sentence has never been just technical instructions.


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