Nfts
Ronin blockchain sees 213% annual increase in RON price and processes over $4 billion in NFT volumes
Ronin blockchain sees 213% annual increase in RON price and processes over $4 billion in NFT volumes
2024-05-22 12:46:05 ET
Ronin, an EVM blockchain specifically designed for gaming, is the brainchild of Sky Mavis, the creators of the popular Web3 title, Axie Infinity.
This game alone generated over $1.3 billion in revenue. Ronin stands out for its proven scalability, having processed over $4 billion in NFT volumes and seamlessly accommodating millions of daily users.
RON price surge
The price of RON, Ronin’s native token, is currently at $3.19, an increase of 6.74% over the past 24 hours and a staggering 213% rise over the past year.
Ronin’s track record
Ronin was rigorously tested in 2021, where it processed 15% of all NFT transaction volume, establishing itself as the central hub of Axie Infinity assets.
It is considered the second largest NFT sales platform by volume, highlighting its scalability and reliability.
This gaming-centric blockchain eliminates unnecessary overhead present in other blockchains, ensuring high-quality applications and minimal spam.
Security and support for developers
Despite the Ronin Validator breach, the blockchain has become a robust ecosystem with strict security measures.
Sky Mavis used her expertise in building and scaling Axie Infinity to support Ronin, providing advisory support and grants to partners.
This support provides a solid foundation for developers looking to take advantage of Ronin’s abilities.
RON Price Rise and Market Performance
This growth potential is highlighted by the fact that RON is 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 has experienced 12 green days in the past 30 days, reflecting a 40% positivity rate.
Despite moderate volatility, with a 30-day volatility rate of 8%, RON’s liquidity is rated Medium, supported by a volume-to-market cap ratio of 0.0121.
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Ronin blockchain sees 213% annual increase in RON price and processes over $4 billion in NFT volumes
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