Game-specific blockchain “Ronin” price soars due to sudden increase in monthly activity

9 months ago 59

Top rate of increase for 2 consecutive months

An analysis by on-chain data analysis firm Nansen found that the number of active addresses on Ronin Network increased by 193% month-on-month in December last year. Ronin Network recorded 1.3 million active addresses, the highest growth rate for the second consecutive month.

Source: Nansen

Ronin originally started as a dedicated sidechain for the popular blockchain game Axie Infinity, and has now grown into an NFT scaling solution for games led by developer Sky Mavis.

Sky Mavis is partnering with multiple game development studios to expand the reach and utility of the Ronin ecosystem in the gaming and blockchain space.

Nansen research analysts said one of the reasons for the surge in user numbers is the popularity of Pixels Online, known as the “Web3 farming game.” The game allows players to build farms, improve their skills, and interact with friends.

According to data from DappRadar, the number of unique active wallets (UAWs) connected to Pixels in the past 30 days has increased by more than 16% to 352,000 addresses.

Edward Wilson from the Nansen Research team told Crypto Briefing that he is focusing on blockchain gaming and the P2E (play-to-earn) field.

Since the last cycle, many new teams that raised money in the bull market have built their game through the bear market. The team established in the previous cycle is working on an exciting update.

connection:Polygon is making great strides in gaining the number of virtual currency users in 2023, approaching Ethereum

Virtual currency RON soars

On-chaindataIt is also known that the investment company Arca holds Ronin Network’s crypto asset (virtual currency) RON worth approximately 590 million yen. Furthermore, Arca is known to have transferred 680 Ether (ETH) through the Ronin Bridge, and appears to be actively managing assets on the same network.

The value of RON has experienced remarkable growth over the past year, increasing by approximately 200%. At the time of writing, its market capitalization exceeds 110 billion yen, ranking it in the top 100 markets.

Aiming for a record high of $3.8 Source: CoinMarketCap

connection:NFT game “Axi Infinity” developer revamps Ronin network, partners with 5 game studios

What is P2E (Play-to-Earn)?

P2E (Play-to-Earn) games are games that allow you to earn money while playing, mainly using blockchain technology or NFT (non-fungible tokens). Through gameplay, you can receive unique tokens and NFTs, which are in-game items, as rewards, and you can earn money by selling them. Axie Infinity, a leading P2E platform, had 1.1 million daily active users at its peak in November 2021 (according to blockchain analysis platform Nansen).

Virtual currency glossary