Ronin Roars: User Growth, NFT Trading Surge, and a Decentralized Future Beckons!

Ronin is an EVM blockchain crafted for developers building games with player-owned economies. The blockchain is home to all Axie Infinity assets like Axie, Land, SLP, and AXS. It is the blockchain built specially for games.

Consensus mechanism-  Delegated Proof of Stake (DPOS)

Ronin Blockchain Booms with User Growth and NFT Trading

The Ronin blockchain saw massive growth, with daily active addresses growing ten times to 2.27 million, showing ample new users. Such growth boosts network activity and security.

NFT trading volume also rose by 134%, reaching $71 million, indicating a thriving market. Popular games like Axie Infinity and new NFT projects are driving such growth.

The combination of more users and higher trading volumes is a mark of a lively and healthy ecosystem on Ronin. This uptick is reflective of growing faith in Ronin as a secure platform for NFT transactions and gaming. This attracts more users and developers and forms a healthy community and develops the potential of the platform.

Ronin Achieves Decentralization, Opening Doors for Community and Innovation

Ronin, which was initially built for Axie Infinity, is now entirely open, and it's permissionless. This is a great change that decentralizes Ronin further because it's no longer owned by individuals.

With this, anyone who meets the qualification can now become a validator securing the network. This move makes more people from the community take part in running and maintaining Ronin.

Being permissionless encourages more developers to join in because they will not need sole permission to build on Ronin. This change is in line with most blockchain projects' ultimate goal: decentralization and community governance.

This is important because it increases trust within the network and reduces censorship risk. Open access encourages innovation, and a higher validator set provides security. This change is a significant one for Ronin to become an open-gaming world

RON USD was one of the best performers yesterday

Any daily close above $1.50 confirms further bullishness.

RONUSD trades higher and surged more than 55% in the past two weeks after a massive sell-off.  The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $0.21047 and is currently trading around $0.2100.

The bullish invalidation can happen if the pair closes below $0.80. On the lower side, the near-term support is $1.20. Any break below targets $1/$0.80. 

The immediate resistance stands at around $1.50. Any breach above confirms a minor pullback. A jump to $1.82/$2/ is possible. A surge past $2 will take it to $2.50/$3.

It is good to buy on dips around $1.20 with SL around $0.80 for TP of $2/$2.50.