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Ronin’s total address has reached over 18.8 Million while its token price is ready to surge beyond its ATH.
Ronin is an EVM-based blockchain created by Skymavis for gamers. It is one of the only blockchains that has proven to scale a single game to millions of users with over $4 billion NFT volume.
Ronin blockchain optimizes for near-instant transactions, which makes transactions inside a game seamless. In the first few months of launch, the platform gained massive success and reached over $5 billion in transactions, more than 15% of all NFT volumes in the market.
Ronin is one of the biggest battle-tested and scalable platforms with the potential to revolutionize the Web 3 market. Let’s have a look at Ronin Blockchain’s on-chain activity.
Is The Increasing User Base Making A Difference For Ronin?
Vc holdings of Ronin by scan.0xscope.com
Ronin is one of the biggest platforms that has stood the test of time and proved its potential to be scalable. This has attracted a lot of VCs to invest in the platform.
The data shows FalconX owns over $1.5 million worth of tokens. Meanwhile, QCP Capital and Blocktower Capital own around $800k worth of RON tokens.
RON token holders have seen a surge of 3.35% and have reached 318,103, indicating better investor interest and community expansion. The sudden token holder’s surge can be airdrop-driven and might not necessarily guarantee a positive effect on the token price. Meanwhile, active users have also surged in the last three months, reaching nearly 112,007.
Ronin TVL by DefiLlama
Ronin is seeing a weak gain in its TVL, which is currently near $185.9 million. The overall core developers on the platform have remained constant at nearly 9 for the past few weeks.
Meanwhile, CEX has observed a net outflow of $118,659 in the past week, which could be relatively bullish for the token price in the future. Many analysts are expecting strong growth in the platform’s on-chain activity.
Is RON Token Price Ready For $5?
Ronin comes under the L1 category, which has not seen any significant growth in the last seven days. Ronin has a market cap of $932 Million and is currently ranked 92nd in the CMC. RON token price is currently at $2.9, with a gain of 5.71% in the intraday session. The asset price is forming strong bullish, engulfing candles on the daily chart.
It is currently trading below the 50 and 100 EMA with an upcoming negative crossover in the future. A strong bullish momentum can be observed if the price jumps above the EMA. The upside trend of the asset price can halt near $3.3. The support for the RON token price can be seen near $2.5.
The RSI of RON is currently near 44, with a positive slope hinting at its presence in the neutral zone. The overall sentiment of the RSI is bullish. MACD of RON also hints towards a bullish trend for the future.
Conclusion
Ronin is one of the most prominent blockchains, and it has scaled its game to millions of daily active users. The platform is currently seeing a surge in active users with growth in overall holders. RON token price is currently in a weak bullish mode and can see a new high in the future.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
