Amid the buzz surrounding web3 game Pixels, Ronin blockchain network hosting the title has seen its native token, $RON, surge to new highs.
According to CoinGecko, the price of $RON hit a record high at $4.41 this week, surpassing its previous peak in 2022. The token experienced a notable 12% increase in a single day, leading to an impressive 53% growth over the past week.
With a market capitalization of $1.27 billion USD, a fully diluted valuation of $4.21 billion USD, and a daily trading volume of $59.8 million USD, $RON has demonstrated remarkable growth, spurned by top blockchain gaming titles, such as Pixels.
Gaming hype boosts Ronin
The spike in Ronin’s $RON token can be directly connected to the success of Pixels, its NFTs, and the $PIXEL token. Since the launch of $PIXEL and the introduction of Play-to-Earn mechanics, the game has attracted over 1.1 million daily active users, rapidly expanding the network’s user base.
In a further boost to its ecosystem, the Ronin network recently announced that role-playing game Kaidro would be coming to the chain. Yesterday, Kaidro launched a free NFT mint event, and Ronin wallet users can mint one ‘Crate’ for free until 1pm (UTC) today.
Ronin is also home to other celebrated games, with notable games including The Machines Arena and Wild Forest, which both launched on the network.
Recent high engagement has been key to enhancing Ronin’s vitality and increasing $RON’s price, with the success of web3 games on its network accelerating the growth trajectory of the token, the network itself, and web3 gaming as a whole.
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