The Ronin Network’s RON Token Continues to Rise Amidst a Market Dip
The cryptocurrency market is experiencing a downturn, with Bitcoin inching closer to $40,000. Gaming tokens have been hit harder than other coins, but the Ronin network’s RON token remains on a hot streak after a weekend surge that brought it close to a two-year high.
Ronin Network’s Impressive Performance
The Ronin network’s RON token has seen a 34% increase in the last week, reaching a current price of $2.32. This surge has propelled RON into the top 100 cryptocurrencies. On Sunday, the token reached its highest price since February 2022 at $2.52.
The Success of the Ronin Network
The Ronin network, an Ethereum sidechain designed for games, initially gained popularity through its association with Axie Infinity in 2021. The play-to-earn experience offered by Axie Infinity generated billions of dollars in NFT trading volume that year. Since then, developer Sky Mavis has onboarded more developers and found success with games like Pixels.
Pixels and Apeiron on Ronin
Pixels, a game that migrated to Ronin from Ethereum sidechain Polygon, recently concluded its final play-to-airdrop campaign ahead of the upcoming PIXEL token launch. However, Apeiron, a card-driven game in the “god game” genre, just launched its own airdrop campaign last week.
RON Performance and Market Comparison
RON has experienced an impressive 325% growth over the past year. While it has fallen about 3% in the last 24 hours, this decline matches the average market performance during that period. In comparison, other gaming tokens like Immutable’s IMX token, Beam, Gala Games, Axie Infinity’s AXS governance token, and the in-game SLP reward token have seen sharper drops.
Hot Take: Ronin Network’s RON Token Bucks the Trend
Despite the overall market dip, the Ronin network’s RON token continues to defy expectations with its impressive performance. As other gaming tokens experience significant declines, RON remains on an upward trajectory. The success of the Ronin network and its associated games highlight the growing popularity of play-to-earn experiences and the potential for blockchain technology in the gaming industry.
By
By
By
By
By