Binance to List Gaming-focused Crypto Project Ronin
Binance, the world’s largest digital asset exchange, has announced that it will be listing Ronin (RON), a gaming-focused cryptocurrency built on the Ethereum (ETH) blockchain. The token has seen a significant surge in value, with its price soaring by more than 100% in just one month.
Introduction of Seed Tag Requirement
Once Ronin is made available for trading on the Binance platform, Binance will attach a seed tag to the token. Coins with a seed tag will require users to pass quizzes every 90 days, ensuring they have a thorough understanding of the risks involved before trading the tokens.
Trading Pairs and Timeline
Binance has provided details of the trading pairs that will be available for Ronin: RONIN/BTC, RONIN/USDT, RONIN/FDUSD, and RONIN/TRY. The trading for these spot trading pairs will begin on February 5th, 2024, at 13:30 (UTC). Users can start depositing RON in preparation for trading, and withdrawals will open on February 6th, 2024, at 13:30 (UTC).
Ronin’s Price Performance
The price of Ronin has experienced significant volatility in recent weeks. On January 8th, the token was trading at $1.68, but it surged to as high as $3.50 on Monday, marking a 108% increase. At the time of writing, Ronin has retraced slightly and is currently trading at $2.87.
Ronin and Axie Infinity
Ronin was launched in 2021 by Sky Mavis, the company behind the popular gaming project Axie Infinity (AXS). Market intelligence firm Nansen has observed a surge in activity within the Ronin ecosystem, with 464,000 active addresses reported in November 2023. This represents a remarkable 368% increase compared to the previous month, making it the largest percentage gain among all chains.
Integration with Binance Pay
In December, Ronin announced its integration with Binance Pay, a feature that facilitates easier wallet funding for consumers. This integration allows traders to access their funds on Binance and use them outside of the crypto exchange, providing greater convenience and flexibility.
In conclusion, Binance’s listing of Ronin is expected to bring more attention and trading volume to this gaming-focused cryptocurrency. With its recent surge in value and a growing user base, Ronin shows promising potential in the crypto market.
Analyst comment
Positive news. Short-term: Ronin’s listing on Binance will attract more traders and increase trading volume. With its recent price surge and growing user base, Ronin has promising potential in the crypto market.
