After being listed on Coinbase, the native token RON of the Ronin Network, which powers gaming activities on the platform, has experienced a surge of over 10%.
The RON token of Ronin Network saw an 11% increase, reaching a peak of $4.12 on March 21 following its listing on Coinbase. In a recent blog post, the Ronin Network team mentioned that the listing coincides with a significant rise in daily activity on Ronin, with active addresses increasing by more than 500% since February, surpassing its previous peak during the Axie Infinity craze in 2021.
Established in early 2021 by Sky Mavis, Ronin Network is a blockchain platform specifically tailored for play-to-earn on-chain activities. The network has introduced a range of web3 games such as Axie Infinity, Pixels, and Wild Forest, enabling players to earn cryptocurrency and non-fungible tokens (NFTs) through on-chain activities.
GAM3S.GG’s head of operations, Eliza Crichton-Stuart, pointed out in a recent post that Ronin’s recent surge in on-chain activity could be attributed to increased engagement across various games, especially Pixels, which boasts 619,000 daily active unique wallets.
Pixels, a game reminiscent of classic farming games like Harvest Moon and Stardew Valley, integrates a crypto token economy alongside NFT-based land plots and pets. Originally developed on the Polygon network, the game migrated to Ronin Network last autumn, significantly boosting the platform’s adoption. The migration led to a notable increase in daily active users on Ronin, rising from around 20,000 last autumn, as reported by crypto.news.
In addition to this, Ronin hackers have transferred some stolen funds from Ethereum to the Bitcoin network. Stay updated with the latest news by following us on Google News.