Crypto:
30251
Bitcoin:
$66.272
% 1.26
BTC Dominance:
%54.5
% 0.21
Market Cap:
$2.38 T
% 1.77
Fear & Greed:
74 / 100
Bitcoin:
$ 66.272
BTC Dominance:
% 54.5
Market Cap:
$2.38 T

Ronin Network’s RON Token Surges 11% After Coinbase Listing

Ronin Network

The native token of Ronin Network, RON, experienced an 11% surge to reach $4.12 on March 21 following its listing on Coinbase. The announcement of the listing coincided with Ronin Network’s significant increase in daily activity, with active addresses skyrocketing by over 500% since February, surpassing previous peaks observed during the Axie Infinity craze in 2021.

In a blog post, the Ronin Network team noted the explosive growth of Coinbase this year, attributed to the rising interest in web3. They highlighted that many Coinbase users might be delving into web3 for the first time, contributing to the increased adoption and activity on Ronin Network.

Founded in early 2021 by Sky Mavis, Ronin Network serves as a blockchain platform specifically tailored for play-to-earn on-chain activities. The platform hosts a variety of web3 games, including Axie Infinity, Pixels, and Wild Forest, enabling players to earn cryptocurrencies and non-fungible tokens (NFTs) through their on-chain engagements.

Eliza Crichton-Stuart, head of operations at GAM3S.GG, suggested that Ronin’s recent surge in on-chain activity could be attributed to engagement across various games, particularly highlighting Pixels. Pixels, reminiscent of classic farming games like Harvest Moon and Stardew Valley, incorporates a crypto token economy alongside NFT-based land plots and pets. Originally launched on the Polygon network, the game transitioned to Ronin Network last autumn, significantly boosting adoption and activity on the platform.

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