RONIN Token Falls 20% Post Binance Listing

RONIN

Binance announces RONIN token trading as Ronin Network’s DAU surges, but token price drops after listing news.

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Binance, the top cryptocurrency exchange, announced the listing of the Ronin network’s token, attracting significant attention in the global crypto community. This move marks progress for Ronin, an Ethereum sidechain network focused on gaming, sparking speculation among crypto enthusiasts worldwide.


Binance Announces RONIN Token Listing

Binance, a leading cryptocurrency exchange, has announced the listing of the Ronin network’s native token. Starting from February 5 at 15:30 UTC, Binance will commence trading for RONIN spot trading pairs, including RONIN/BTC, RONIN/USDT, RONIN/FDUSD, and RONIN/TRY.

Users can now deposit tokens in preparation for trading, with withdrawals set to commence on February 6 at 13:30 UTC. Notably, Binance has waived the listing fee for RONIN, setting it at 0 BNB.

Binance has added a seed tag next to the crypto, indicating high volatility and risk associated with the gaming token.

The token’s DAU chart has shown a remarkable surge in recent days, reflecting increased activity on the network. Binance’s listing, following this surge in DAU, appears to align with the token’s growing popularity.

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However, market charts for the token depict a drop in price shortly after Binance’s listing announcement.

Ronin Price Declines After Binance Listing Announcement

Price Fall and Current Trading: As of the latest update, Ronin’s price experienced an 18.50% decline immediately after the announcement of its listing on Binance. Currently, the Ronin price stands at $2.84, with a market cap of $831.99 million and a 24-hour trading volume of $96.98 million, according to TradingView data.

Bearish Market Sentiments: Following the plunge in the token’s price following Binance’s listing announcement, market sentiments appear to be turning bearish. However, the crypto community anticipates a significant shift in price action following Binance’s listing, as the exchange boosts the token’s visibility.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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  • Asad

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