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COINTURK NEWS > Altcoin News > Ronin Network Experiences Significant Transaction Surge and Price Growth
Altcoin News

Ronin Network Experiences Significant Transaction Surge and Price Growth

In Brief

  • Ronin Network sees a 33.18% increase in transactions, signaling user engagement.

  • RON price trades at $2.36 with notable market interest and bullish sentiment.

  • Upcoming changes may enhance network growth and user base expansion.

Ömer Ergin
Ömer Ergin 5 months ago
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According to the on-chain analysis platform Nansen, the Ronin Network (RON) has witnessed a remarkable 33.18% increase in transactions over the past 24 hours. This surge has brought the total transaction count to 2.55 million, indicating heightened user engagement. The increase raises curiosity about the network’s future potential and whether there will be a rise in the price of RON.

Contents
Ronin Network InsightsFuture Price Projections for RON

Ronin Network Insights

Nansen reported a significant 33.18% increase in transactions on the Ronin Network in the last 24 hours. This uptick signifies a concentration of activities within the ecosystem and suggests a notable growth potential.

This transaction increase bolsters RON’s position in the blockchain space, drawing attention due to its strong connection with the popular game Axie Infinity. Ronin boasts 1.22 million daily active addresses, with a Total Value Locked (TVL) of $1.2 billion recorded on the network. Despite supporting only 15 games, Ronin’s low fees and scalability have made it a preferred blockchain for gaming and decentralized finance (DeFi) projects.

Future Price Projections for RON

Ronin Network (RON) is currently trading at $2.36, reflecting an 8% increase over the past hour. Within the last 24 hours, the price fluctuated between $2.049 and $2.36, showcasing impressive gains of 35% over the past week and 80% over the past month. Data from Coinglass indicates a notable rise in derivative trading activities.

With a market cap of $824 million and a 24-hour trading volume of $56 million, RON has garnered significant interest in the market. The recent performance of the token and the increase in network transaction volume point to a growing bullish sentiment surrounding the Ronin ecosystem. If the current momentum persists, RON has the potential for further price appreciation.

In the near future, it is anticipated that Ronin Network will transition to a permissionless blockchain in the first quarter of 2025. This change is expected to further expand the ecosystem and support the network’s growth.

In conclusion, the increase in transactions on the Ronin Network and RON’s price performance highlight the network’s future growth potential. The expansion of the user base and upcoming network developments may create a positive outlook for RON.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 5 December, 2024 - 12:14 am 5 December, 2024 - 12:14 am
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