Binance, the world’s largest digital asset exchange, is about to launch a gaming-focused crypto project.
In a new announcement, Binance say that the platform will support Ethereum (ETH)-based Ronin (RON) for trading starting Tuesday, after the token rose more than 100% in a month.
Once launched for open trading, Binance says it will attach a Seed tag to RON. Seed-tagged coins require users to take quizzes every 90 days to ensure they are aware of the risks before trading the tokens.
“Binance will list Ronin and open trading for these spot trading pairs on 2024-02-05 13:30 (UTC). New spot trading pairs: RONIN/BTC, RONIN/USDT, RONIN/FDUSD and RONIN/TRY.
Users can now start depositing RON in preparation for trading. Withdrawals will open on 2024-02-06 13:30 (UTC).”
RON traded at $1.68 on January 8 and rose to $3.50 on Monday, a 108% increase. At the time of writing, RON has returned and is trading at $2.87.
Sky Mavis, the company behind the popular gaming project Axie Infinity (AXS), launched Ronin in 2021.
Market intelligence firm Nansen recently noted an increase in activity in the Ronin ecosystem, with 464,000 active addresses discovered in November 2023, a 368% increase from the previous month and the largest percentage gain of any chain.
In December, Ronin announced it was integrating with Binance Pay to make wallet financing easier for consumers. Binance Pay allows traders to access their funds on Binance and use them outside of the crypto exchange.
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Featured image: Shutterstock/Liu zishan
