Binance To List Ethereum-Based Crypto Gaming Project After It Prints 108% Rally

Binance, the largest digital asset exchange in the world, is about to list a hot gaming-focused crypto project.

In a new announcement, Binance says that the platform will support Ethereum (ETH)-based Ronin (RON) for trading beginning Tuesday following the token soaring by more than 100% in a month.

Once launched for open trading, Binance says it will attach a seed tag to RON. Coins with a seed tag require users to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.

“Binance will list Ronin and open trading for these spot trading pairs at 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 at 2024-02-06 13:30 (UTC).”

RON was trading for $1.68 on January 8th and soared to as high as $3.50 on Monday, an increase of 108%. At time of writing, RON has retraced and is trading for $2.87.

Sky Mavis, the firm behind the popular gaming project Axie Infinity (AXS), launched Ronin in 2021.

Market intelligence firm Nansen recently noticed a surge in activity in the Ronin ecosystem, spotting 464,000 active addresses in November 2023, a 368% increase from the previous month and the largest percentage gain among all chains.

In December, Ronin announced it was integrating with Binance Pay to make wallet funding 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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Featued Image: Shutterstock/Liu zishan