Binance, a prominent player in the world of cryptocurrency exchanges, recently disclosed its intention to add the native token of the Ronin network to its platform, creating a buzz within the global crypto community. This listing marks a significant step for Ronin, an Ethereum sidechain network tailored for gaming, as it delves deeper into the sphere of cryptography, stirring anticipation among crypto enthusiasts worldwide.
Ronin Listing Unveiled Amid Rising Daily Active Users (DAU)
As per Binance's announcement, the exchange will initiate trading for RONIN spot pairs from February 5 at 15:30 UTC. The RONIN/BTC, RONIN/USDT, RONIN/FDUSD, and RONIN/TRY pairs will be made available for trading on the platform. Users can already deposit tokens to prepare for trading, while withdrawals are slated to open on February 6 at 13:30 UTC. It's worth noting that Binance has set the listing fee at 0 BNB. Additionally, the inclusion of a seed tag alongside the crypto symbolizes the high volatility and risk associated with the gaming token.
Simultaneously, the token's Daily Active Users chart has exhibited a remarkable surge in recent days, reflecting heightened activity on the network. Binance's listing, following this spike in DAU, seems to reflect the growing popularity of the token.
However, price charts for the token suggest a decrease in value shortly after its listing on Binance.
Price Drop for RONIN
As of the latest update, Ronin has experienced an 18.50% decrease immediately after the listing announcement surfaced on the crypto scene. Presently, the Ronin price stands at $2.84, with a total market cap of $831.99 million and a 24-hour trading volume of $96.98 million, as per TradingView data.
Despite the price dip post-Binance listing, market sentiments appear to be heading towards a bearish trend. Nevertheless, the cryptocurrency community anticipates a substantial shift in price action following the listing on Binance, which is expected to heighten interest in the token.
