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Ronin Price Prediction 2024: Can the RON Gaming Token Maintain Momentum?

Last Updated February 5, 2024 12:29 PM
Giuseppe Ciccomascolo
Last Updated February 5, 2024 12:29 PM

Key Takeaways

  • Ronin’s RON token reached $3 for the first time in two years recently.
  • Ronin recently launched an airdrop campaign offering participants $500.
  • One price prediction says it may reach $7.64 next year.

Gaming blockchains are engineered with a focus on minimizing transaction fees and maximizing transaction throughput, making them, at least in theory, more cost-effective and scalable than mainstream blockchains like Bitcoin and Ethereum. In addition, some gaming chains operate as private networks, requiring developers to obtain approval from the creators to participate in the ecosystem.

One such example is Ronin, which currently operates as a private blockchain but has plans to open its doors to more studios in 2024. In the interim, games like Pixels and Axie Infinity are flourishing on Ethereum sidechains.

Ronin recently launched an airdrop campaign offering participants $500 along with governance tokens, granting them a voice in future project decisions. This airdrop presents an exciting opportunity for enthusiasts of decentralized finance and community-driven initiatives.

Ronin did not immediately respond to a request for comment

But what is Ronin (RON)? How does Ronin work? Let’s see what we can find out, and also take a look at some of the Ronin price predictions that were being made as of February 5, 2024.

Ronin Price Prediction

Let’s examine some of the Ronin price predictions being made on February 5, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $6.16 $7.30 $21.02
Prediction #2 $5.37 $7.64 $51.23
Prediction #3 $1.14 $6.69 $44.05

Ronin Price Prediction for 2024

DigitalCoinPrice  said that Ronin would reach $6.16 this year. PricePrediction.net   thought the token would trade at $5.37. Changelly  argued RON would be valued at $1.14 by the end of the year.

Ronin Price Prediction for 2025

Moving on, Changelly thought Ronin would trade at $6.69in 2025. DigitalCoinPrice had the token coming in at $7.30 that year. PricePrediction.net said RON would be worth $7.64 next year.

Ronin Price Prediction for 2030

Looking at a more long-term Ronin price prediction, PricePrediction.net said the token would hit $51.23 in 2030. Changelly suggested it would reach $44.05 that year. DigitalCoinPrice made a RON price prediction that had it trade at $21.02 at the start of the next decade.

Google BardAI Price Prediction for Ronin (as of February 5)

Google’s BardAI platform gave the following price prediction for Ronin on February 5. Please remember that price predictions are very often wrong and that artificial intelligence should not be trusted.

Short Term (Next 3 months)

  • Price range: $2.652 – $3.34
  • Reasons:
    • Overall cryptocurrency market sentiment: The price of Ronin is likely to be influenced by the overall health of the cryptocurrency market. If the market experiences a downturn, Ronin’s price could also fall.
    • Adoption and development of the Ronin ecosystem: Increased adoption and development of the Ronin ecosystem could lead to increased demand for Ronin, potentially pushing the price up.
    • Regulatory landscape: Changes in regulations could impact the price of Ronin, both positively and negatively.

Medium Term (Next 6 months)

  • Price range: $0.796 – $1.50
  • Reasons:
    • Overall cryptocurrency market sentiment: If the general sentiment towards cryptocurrencies remains positive, Ronin may benefit. However, if there’s a market downturn, it could be negatively impacted.
    • Project developments and adoption: News, partnerships, and increased adoption of the Ronin platform could positively influence its price.
    • Regulatory landscape: Changes in regulations surrounding cryptocurrencies could create uncertainty and impact the price.

Long Term (Next 5 years)

  • Price range: $3.34 – $9.62
  • Reasons:
    • Volatility: The cryptocurrency market is highly volatile, and Ronin’s price has experienced significant fluctuations in the past. Any prediction should account for this volatility.
    • Adoption and development: The success of Ronin will depend on its adoption by users and developers. Increased adoption and development could lead to price increases.
    • Regulations: Regulatory changes could impact the cryptocurrency market as a whole and Ronin specifically.
    • Overall market conditions: The broader economic and financial climate can also affect the price of Ronin.

Ronin Price History

Now, let’s examine the Ronin price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Ronin price prediction.

RON first came onto the open market in January 2022, when it was worth about $3.5086. It then started falling, reaching the lowest level of $0.22 in June that year, moving sideways for almost one year. RON regained $1 again in March 2023, starting an uptrend still ongoing. Ronin is worth $2.84 at the time of writing (February 5, 2024).

Ronin price history
RON’s price in 2023 and 2024 | Credit:CoinMarketCap
As of February 5, 2024, there were 293.2 million RON in circulation out of a total supply of 1 billion. This gave Ronin a market cap of about $834.0 million, making it the 76th largest crypto by that metric.

Is Ronin a Good Investment?

It is hard to say. The token’s price moved up recently, but we don’t know how sustainable the recent upturn is.

On the other hand, there are good reasons for Ronin’s recent movements, with new developments getting investors attention.

As always with crypto, you will need to make sure you do your own research before deciding whether or not to invest in RON.

Will Ronin go up or down?

No one can really tell right now. While the Ronin crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.

Should I invest in Ronin?

Before you decide whether or not to invest in Ronin, you will have to do your own research, not only on RON, but on other coins and tokens such as Ordinals (ORDI). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Ronin (RON) Explained

RON is the native coin of Ronin , an Ethereum-based sidechain developed by Sky Mavis. It was initially designed for running the Axie Infinity (AXIE) game. Axie Infinity is an NFT-based game.

How Ronin Works

The $RON Token is the ecosystem token for the Ronin platform. It enables users to pay for transactions on Ronin and participate in securing the network via delegation to validators. Further utility is planned to be added via different Apps built on Ronin.

Ronin Attention Tracker

Ronin Google search volume
Ronin’s Google search volume for the last 90 days. Credit | Google
Here is a chart for Ronin Google search volume for the past 90 days. This represents how many times the term “Ronin RON” has been Googled over the previous 90 days.

FAQs

How many Ronin are there?

As of February 5, 2024, there were 293.2 million RON in circulation out of a total supply of 1 billion.

Will Ronin reach $10?

It might. DigitalCoinPrice says it will reach that level in 2027.

What is Ronin?

Ronin (RON) is an EVM-based blockchain designed specifically for play-to-earn games.

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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