Ronin (RON) has emerged as the top gainer among the top 100 cryptos, soaring 15% in the last 24 hours at the time of writing. This bullish run coincides with a significant increase in active addresses and positive investor sentiment, adding fuel to the fire.
Active Addresses on the Rise: An X report highlights a fivefold increase in Ronin’s daily active addresses over the past two months, indicating growing network activity and user engagement. This rise in on-chain activity suggests potential underlying demand for the token.
Social Buzz and Investor Optimism: Ronin’s social activity also spiked by 9% in the past 24 hours, showcasing increased community interest and discussion. Coupled with a rise in investor sentiment from 6.08 to 8.12 (according to Santiment), confidence in RON appears to be growing.
Volatility on the Horizon: While the price surge is exciting, a cautionary note exists. Ronin’s Relative Strength Index (RSI) currently sits at 76, nearing the overbought zone (above 70). This indicates high volatility and suggests a potential price cooldown could be ahead. For sustained bullish momentum, RSI needs to stay below 50 to avoid potential whale manipulation.
Also Read: Sui Soars to $500M TVL in Record Time: DeFi Gem or Passing Fad?
Binance Listing Adds More Spark: Adding fuel to the optimism, Binance announced listing Ronin today, with trading starting February 6th. While the listing announcement uses “Ronin (RONIN)” instead of the standard RON ticker, this major exchange inclusion is seen as a positive development for wider adoption and liquidity.
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