As a researcher with a keen interest in blockchain technology and its applications, I find myself captivated by the recent surge in transactions on Ronin Network. With over 2.55 million transactions processed in the past 24 hours, it’s clear that this network is gaining momentum and attracting more users.
As a crypto investor, I’ve noticed an impressive 33.18% increase in transactions on Ronin Network (RON) over the past 24 hours, as reported by Nansen, a trusted on-chain analytics platform. This surge has propelled the total transaction count to an impressive 2.55 million, suggesting heightened user engagement. The question now is: will this growth momentum point towards a promising future for the network and potentially ignite a price rally? As we keep our eyes on its continued progress within the blockchain space, the anticipation is palpable.
Ronin Network Sees 2.55 Million Transactions and $1.2 Billion TVL
According to Nansen’s latest report, there’s been a notable 33.18% increase in transactions on the Ronin Network over the last day, totaling approximately 2.55 million transactions. This surge suggests that the ecosystem is buzzing with activity, hinting at increased user interaction and potential future expansion.
The surge in transactions is happening as RON establishes itself firmly within the realm of blockchain technology, notably due to its close ties with the widely-played game Axie Infinity. Presently, Ronin boasts 1.22 million daily active users and a Total Value Locked (TVL) of $1.2 billion. Despite catering to just 15 games, Ronin’s low fees and scalability have propelled it as the go-to blockchain for gaming and decentralized finance (DeFi) ventures, leading to increasing acceptance.
In the coming quarters, Ronin Network is planning a significant shift towards a decentralized blockchain system by Q1 2025. This transition might expand its ecosystem even more. With a recent spike in transactions, it seems that the network is preparing for substantial expansion, which could lead to increased demand for RON, its native token, potentially causing its price to rise.
Price Movement Shows Bullish Momentum
Right now, the price of Ronin Network (RON) is at $2.36, which is an 8% rise in just one hour. Over the past day, its price has moved between $2.049 and $2.36, showing robust movement. In the last week, this token has experienced substantial growth, with a 35% increase in worth. Furthermore, over the past month, it has experienced a remarkable surge of 80%. Data from Coinglass suggests an uptick in derivatives trading activity.
As a researcher studying the cryptocurrency market, I’ve been closely observing the rise of RON, currently boasting a market capitalization of $824 million and a 24-hour trading volume of around $56 million. The attention this token has garnered is evident, and its recent performance coupled with the increase in network transactions indicates a growing optimism among investors towards the Ronin ecosystem. If this momentum persists, it’s likely that we’ll see continued growth in the RON price, possibly fueled by an expanding user base and forthcoming network advancements.
Read More
- EUR CAD PREDICTION
- EUR ARS PREDICTION
- EUR MYR PREDICTION
- USD RUB PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- USD BRL PREDICTION
- XRP PREDICTION. XRP cryptocurrency
- Stardew Valley Suffering From Major Problem on Xbox
- CHR PREDICTION. CHR cryptocurrency
2024-12-04 14:19