- Binance lists Ethereum-based Ronin (RON) after it soared over 100% in a month.
- RON integrates with Binance Pay, enhancing wallet funding and user accessibility.
In a significant move for the cryptocurrency market, Binance, the world’s preeminent digital asset exchange, has declared its intention to list Ronin (RON), an Ethereum-based token, for trading.
This announcement comes on the heels of RON’s impressive performance, where it surged by more than 100% within a month, showcasing the volatile yet lucrative nature of the digital asset landscape.
Binance Embraces Ronin: A New Listing Announcement
Binance’s decision to support RON trading from Tuesday follows a period of remarkable growth for the token, which has seen its value double in a short span. The exchange will introduce several trading pairs for RON, including RON/BTC, RON/USDT, RON/FDUSD, and RON/TRY, facilitating a broad spectrum of transactions for users worldwide.
This strategic move is anticipated to further energize trading activities and attract a diverse group of investors to the platform.
The listing schedule is meticulously planned, with deposits opening prior to the commencement of trading activities, enabling users to prepare their portfolios in advance. Withdrawals are set to begin shortly after trading kicks off, on February 6th at 13:30 UTC, ensuring participants have immediate access to their funds and fostering a user-friendly trading environment.
RON’s price trajectory has been nothing short of meteoric, climbing from $1.68 to an astonishing $3.50 in merely a month. This 108% leap not only underscores the token’s burgeoning appeal but also reflects the dynamic nature of the cryptocurrency markets, where investor sentiment can drive rapid value fluctuations.
In a pioneering approach to user education and safety, Binance will implement a seed tag requirement for RON traders. This measure mandates users to periodically pass quizzes every 90 days, reinforcing their understanding of the inherent risks associated with trading digital tokens.
Such an initiative highlights Binance’s commitment to fostering a secure and informed trading ecosystem for its users.
Ronin’s Strategic Background: The Sky Mavis Connection
Ronin’s ascent to popularity is anchored in its unique proposition as an EVM-compatible blockchain, specifically tailored for Web3 gaming applications.
Developed by Sky Mavis, the same team behind the wildly popular Axie Infinity (AXS), Ronin was launched in 2021 to critical acclaim. Its design caters to the burgeoning sector of blockchain gaming, offering a scalable and user-friendly platform for developers and gamers alike.
The recent announcement of Ronin’s integration with Binance Pay in December further amplifies its utility and accessibility. This strategic partnership simplifies wallet funding processes for users, enhancing the overall user experience and potentially driving wider adoption of RON within the Binance ecosystem and beyond.