Ronin Sets New All-Time High as Gaming NFTs Soar
Ronin, a gaming-centric Ethereum scaling network, reached a new all-time high price on Wednesday, surpassing its previous record set in 2022. The RON token spiked to $4.45 before settling at $4.31, up 12% for the day. This surge has resulted in a remarkable 53% gain over the past seven days.
The previous all-time high price for Ronin was $4.29, achieved in January 2022, prior to Axie Infinity losing traction and the network experiencing a $622 million exploit on its Ethereum mainnet bridge.
Pixel Token Boosts Ronin’s Value
Ronin’s price has more than doubled over the past three months, largely due to the popularity of Pixels, a social farming game centered around NFTs and its native PIXEL token. Following multiple play-to-airdrop campaigns that generated excitement for the game, Pixels launched its token in February. Despite this initial hype, the game’s daily active user count has continued to grow steadily.
Expanding Game Support
In addition to supporting Axie Infinity, Ronin is attracting more developers and games to its network. Kaidro, a role-playing adventure game, recently announced that it will be offering a free NFT minting event starting Wednesday. During a 24-hour period, Ronin wallet holders can mint one free “crate” and an unlimited number of NFT crates thereafter. Furthermore, NFT holders will have the opportunity to claim a free in-game Kaidro character skin within Pixels.
Price Surges for PIXEL and AXS Tokens
The PIXEL token has also experienced significant growth, with an increase of nearly 32% this week, reaching a new all-time high price over the weekend. Similarly, Axie Infinity’s AXS governance token has risen by 26% in the past seven days.
Disclaimer
The views and opinions expressed in this article are for informational purposes only and should not be considered as financial or investment advice.
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