At the beginning of January that the price of ETH broke past $1,200. Shortly after, the top 10 gaming tokens by market cap enjoyed some long-awaited upwards price movement. Since then, the price of these tokens has remained closely tied to ETH. There has, however, been one gaming token that has seen comparatively outsized returns of more than 400%.
RON is the token for the Ronin side chain, a gaming-focused ecosystem created by Sky Mavis, originally designed to provide a better UX for players of Axie Infinity. Since the infamous $650M hack last year, Ronin has mostly remained under the radar. That changed in March when the project announced the launch of RON staking alongside five new partnered gaming studios.
The token has subsequently gone on to outperform every other gaming token in the top 10, as highlighted in three of our most recent monthly Gaming Roundup reports. This is in large part thanks to the project’s consistent stream of bullish announcements that have reignited community support. The long-awaited arrival of third-party titles, coupled with additional token functionality, has resulted in token trading volume jumping as much as ~4400%, and the token has seen as much as a 437% increase in price compared to the start of the year.
It is uncertain how many more bullish announcements the team has hidden up their sleeves that they can unveil should momentum slow down. However, it is clear that community support for the ecosystem is the strongest it has been for quite some time. If the five upcoming third-party titles perform well upon full launch and more fun games join the ecosystem in the near future, Ronin will be well-positioned to capture more market attention, further accelerating network effects and driving the token to new heights.
