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Ronin blockchain sees 213% annual surge in RON price, processes over $4B in NFT volumes

By:
on May 22, 2024
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  • Ronin alone has generated over $1.3 billion in revenue.
  • The price of RON, the native token of Ronin, is currently $3.19, marking a 6.74% increase in the last 24 hrs.
  • Additionally, RON had 12 green days in the last 30, reflecting a 40% positivity rate.

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Ronin, an EVM blockchain specifically designed for gaming, is the brainchild of Sky Mavis, the creators of the popular Web3 title, Axie Infinity.

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This game alone has generated over $1.3 billion in revenue. Ronin stands out for its proven scalability, having handled over $4 billion in NFT volumes and seamlessly accommodating millions of daily users.

RON price surge

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The price of RON, the native token of Ronin, is currently $3.19, marking a 6.74% increase in the last 24 hours and a staggering 213% rise over the past year.

Ronin’s track record

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Ronin was rigorously tested in 2021, where it processed 15% of all NFT trading volume, establishing itself as the central hub for Axie Infinity assets.

It is celebrated as the second-largest platform for NFT sales by volume, underscoring its scalability and reliability.

This gaming-centric blockchain eliminates unnecessary overheads present in other blockchains, ensuring high-quality applications and minimal spam.

Security and support for developers

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Despite the Ronin Validator Breach, the blockchain has emerged as a robust ecosystem with stringent security measures.

Sky Mavis has utilized its expertise from building and scaling Axie Infinity to back Ronin, offering advisory support and grants to partners.

This backing provides a solid foundation for developers looking to leverage Ronin’s capabilities.

RON price surge and market performance

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This growth potential is highlighted by RON trading 311.60% above its 200-day SMA of $0.773416. However, the 14-day RSI of 71.32 suggests that RON is in overbought territory.

Additionally, RON had 12 green days in the last 30, reflecting a 40% positivity rate.

Despite moderate volatility, with a 30-day volatility rate of 8%, RON’s liquidity is classified as medium, supported by a volume-to-market cap ratio of 0.0121.

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