Today's rise in the price of RON has caught the attention of the cryptocurrency market, with the Ronin token rising over 200% in the last month.
In its first nine months, Ronin has amassed 250,000 unique daily active addresses, $5 billion in total value locked (TVL), over 2 million wallet downloads, and 15% of all nft transactions on the market.
Its Katana DEX is the second most popular decentralized exchange among weekly active users and enables millions of in-game transactions.
Ronin: Gaming blockchain thrives amid market turmoil
Ronin (RON) is a blockchain designed for gaming that has gained significant traction in the cryptocurrency market. Launched by Sky Mavis, the creator of Axie Infinity, Ronin is designed to optimize near-instant transactions and negligible fees, making it an ideal choice for Web3 games.
At the time of writing, RON was down a measly 0.2% in the last 24 hours, however it held up. an impressive 20% rally in the last seven days, emerging as the sole survivor of today's crypto carnage, Coingecko data shows.
A look at the chart shows the top 10 cryptocurrencies bathed in crimson, with bitcoin leading the top losers with a loss of nearly 7%. Below at #98 is Ronin with a solid gain on the weekly timescale.
Source: Coingecko
In the face of broader fluctuations and uncertainties within the cryptocurrency landscape, RON has not only weathered the storm but has also demonstrated a notable increase in value.
This commendable performance positions it as an outlier, defying broader trends that have impacted several digital assets. Investors and observers alike can find solace in the relative stability and positive trajectory shown by RON during a time when many other cryptocurrencies are experiencing increased volatility.
RON showing a strong performance in the weekly timeframe. Source: Coingecko
However, it is important to note that the cryptocurrency market remains inherently unpredictable, and the coming weeks and months promise to be attractive for Ronin followers eagerly awaiting the cryptocurrency's next moves.
RON currently trading at $2.29908 on the daily chart: TradingView.com
Ronin Blockchain crypto Wallet Update
Meanwhile, Sky Mavis has revealed an update for the cryptocurrency wallet on the Ronin blockchain. New features include support for multi-party computing (MPC), an in-app web browser, multi-chain support, and a redesigned look and feel.
Currently, the Ronin wallet supports Polygon, ethereum, and Binance's BNB Chain. With the latest update, customers can use a single wallet to manage and move assets across many blockchain networks.
Users can access decentralized applications (dApps) and communicate with blockchain-based services directly from the wallet using the in-app web browser of the latest version of the Ronin wallet.
Featured image by Shuttertsock
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