RON Token Hits Nearly Two-Year High Amid Rising Ronin Network Momentum
The native token of the Ethereum-based Ronin Network, RON, reached a price of $2.89, its highest in almost two years. This surge in price is attributed to the increased popularity of Ronin, an Ethereum sidechain designed for crypto games. One contributing factor to its recent momentum is the success of Pixels, a social farming game that migrated from Polygon. The play-to-airdrop campaign in Pixels, which rewards top players with PIXEL tokens, has attracted more users to Ronin.
Axie Infinity Launches New In-Game Season and Sells Rare NFT Monster
Sky Mavis, the developer of Axie Infinity, recently launched the seventh in-game competitive season called “Epic Era.” This new season offers valuable rewards in AXS and SLP tokens. Additionally, a rare NFT monster from Axie Infinity was sold for 105 Ethereum, equivalent to nearly $246,000. These events have further boosted interest in Axie Infinity and contributed to the rise in RON token price.
Axie Infinity’s Success and Challenges
Axie Infinity experienced significant success in 2021, generating billions of dollars’ worth of NFT trading volume and attracting millions of active players. However, the game faced challenges in early 2022 when its play-to-earn economy struggled and the Ronin network’s bridge to Ethereum was hacked for $622 million. Despite these setbacks, Sky Mavis repaid affected Ronin users and has continued to develop the Axie ecosystem by partnering with third-party game studios.
Hot Take: RON Token’s Soaring Price Reflects Growing Interest in Crypto Games
The recent surge in RON token price is indicative of the increasing popularity of crypto games and their underlying ecosystems. Ronin Network’s success in supporting games like Pixels and Axie Infinity has attracted more users and investors, driving up the token’s value. As the crypto gaming industry continues to evolve and innovate, we can expect further growth and opportunities for both players and token holders.
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