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Ronin Network Achieves New All-Time High
Ronin, a prominent Ethereum scaling network focusing on gaming, reached a new peak early Wednesday, surpassing its previous record set in 2022. The RON token surged to $4.45 at the beginning of the week, although it has since settled slightly to $4.31 at the time of this composition, according to data from CoinGecko. Despite this minor dip, it remains 12% higher for the day, with a remarkable 53% increase in the past week following a surge over the weekend.
The previous all-time high for Ronin was $4.29, established in January 2022, prior to the decline in popularity of the flagship game Axie Infinity and the network’s confrontation with a $622 million exploit on its Ethereum mainnet bridge. Over the last three months, Ronin has more than doubled in price, partially due to the emergence of Pixels, a social farming game centered around NFTs and the PIXEL token. Following various play-to-airdrop campaigns boosting excitement around the game, Pixels unveiled the token in February. Despite this, its daily active user count has continued to rise steadily.
In parallel with ongoing support for Axie Infinity, the Ronin network is attracting an increasing number of developers and games. Among these projects is a role-playing game named Kaidro, which publicized a free NFT mint commencing Wednesday. During a 24-hour period starting at 9 pm ET, each Ronin wallet will have the opportunity to mint a complimentary “crate.” Within this timeframe, an unlimited quantity of NFT crates can be minted. Furthermore, NFT holders will have the option to claim a free in-game Kaidro character skin within Pixels.
Moreover, PIXEL has also experienced a surge of nearly 32% this week, achieving a new all-time high over the recent weekend. Additionally, Axie Infinity’s governance token AXS has recorded a 26% increase over the past week.
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