The Ronin Network now has over one million active addresses. The question is, will the price follow?
The game-centric Ethereum sidechain Ronin Network has seen remarkable growth over the past weeks, bringing its active users to more than a million. The metric is accompanied by a decent 5% price increase for the sidechain’s native cryptocurrency, RON.
1 Million is a big number ???????? pic.twitter.com/qKQH0s46ll
— Ronin (@Ronin_Network) March 11, 2024
Ronin Network Hosts More Projects
Ronin’s latest success springs from some factors. Prominent among them is the onboarding of more game-focused projects into the Ronin network. Among them is Apeiron, a Macintosh card-themed multiplayer game. The game embraced the Ronin network as its pathway into blockchain in December 2023.
The latest surge in active gamers comes amid the announcement of Apeiron’s APRS token sale starting on March 12th, marking Ronin’s first public token sale. Ronin reminded users about the difference between its community round and Apeiron’s community round, keeping potential participants on track.
The trend is not new within the Ronin ecosystem as it once saw a 300% surge in daily active users as new gaming projects joined the bandwagon of projects building on the network.
Will RON’s Price Explode?
According to the price-tracking data from CoinStats, RON last saw an all-time high (ATH) of $4.29 in January 2022. Recall that the Ronin network suffered a massive exploit two months later, causing hackers to siphon approximately $625 million. Although some of the funds were gradually retrieved by crypto exchanges, the network’s bridge went on a months-long pause before reopening. These events took RON’s price to as low as $0.2.
Ideally, an ecosystem growth sparks demand for the network’s native currency, causing a price increase. Still, it remains uncertain when RON’s value will soar following its ecosystem growth.
Today, RON trades at $4.03, representing a 5.3% increase in the last 24 hours and a 41% surge over the past week.
