Ronin Blockchain Surpasses $4 Billion in All-Time NFT Sales Volume

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Ronin reached a new mile­stone in the non-fun­gi­ble token (NFT) space trail­ing only Ethereum as the biggest blockchain by all-time sales volume. 

Ronin is one of the most pop­u­lar blockchains when it comes to play-to-earn games that involve the buy­ing, hold­ing, and sell­ing of dig­i­tal collectibles. 

Sky Mavis, the com­pa­ny behind the wild­ly pop­u­lar play-to-earn game Axie Infin­i­ty, cre­at­ed Ronin in 2020 after real­iz­ing Ethereum’s base lay­er was too slow and expen­sive to han­dle the trans­ac­tions required to pow­er the game.

Accord­ing to Be[In]Crypto research, Ronin had a total sales vol­ume of approx­i­mate­ly $4.07 bil­lion as of June 5. 

This comes as a mas­sive boost to the entire Ronin ecosys­tem after its coin, RON, plunged to new high lows in the mar­ket crash of May. This led to mar­ket cap­i­tal­iza­tion falling below $70 million. 

This land­mark puts Ronin ahead of SolanaFlowPoly­gonWAX, Avalanche, Immutable X, Palm, Tezos, Pani­ni, and Binance Smart Chain (BSC).

Source: Blockchains by All-Time NFT Sales Vol­ume by CryptoSlam

What caused rise in Ronin sales volume? 

Look­ing at the spike in the num­ber of unique buy­ers from Aug, the increase in sales led to the chain’s soar­ing total trans­ac­tion counts, with 305,127 unique buy­ers and 1,853,437 transactions.

The same peri­od was Ronin’s all-time high in month­ly sales vol­ume with around $848.24 million.

Source: Ronin August Month­ly Sales Vol­ume by CryptoSlam

Most of this vol­ume came from the biggest play-to-earn game, Axie Infin­i­ty. Oth­er months that made sig­nif­i­cant con­tri­bu­tions to Ronin sales were July ($666.17 mil­lion), Sept ($518.87 mil­lion), Oct ($545.79 mil­lion), and Nov 2021 ($754.76 million). 

RON price reaction 

RON became a cryp­to trad­ing asset in Jan 2022. It opened on Jan 27 at $3.56, reached an all-time high (ATH) of $4.32 the same day, and test­ed a low of $0.4275 on May 27.

At the time of writ­ing, the coin’s price was $0.4700. Over­all, this equates to an 87% decline through­out 2022.

Source: RON/USD Chart by CoinMarketCap

Disclaimer

All the infor­ma­tion con­tained on our web­site is pub­lished in good faith and for gen­er­al infor­ma­tion pur­pos­es only. Any action the read­er takes upon the infor­ma­tion found on our web­site is strict­ly at their own risk.

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