Ronin

when

Binance, the biggest <a href="https://news.todayq.com/investor-alert-hong-kongs-sfc-issues-reminder-over-crypto-exchanges/" rel="noopener noreferrer nofollow">crypto exchange</a> by trading volume, announced to list of RONIN (RON). The native asset token of the EVM Blockchain designed for gaming saw a major price action. RON price dropped by over 19% in just one hour raising speculation in the market. However, <a href="https://news.todayq.com/vitalik-buterin-points-bad-gamefi-amid-crypto-resurgence/" rel="noopener noreferrer nofollow">top gaming tokens</a>‘ total market cap is marginally up to stand at $18.3 billion. RONIN price crash 
According to the data, RONIN price dropped from $3.49 to $2.80 in a span of one hour. RON is trading at an average trading price of $2.89, at the press time. However, its 24 hour trading volume is up by 386% to stand at $120 million. It is still holding a market cap of $846 million.
It is important to note that this major decline came in Binance’s announced RONIN token listing. The crypto exchange disclosed that trading of RONIN would commence at 16:30 TRT. The spot trading pairs include RONIN/BTC, RONIN/USDT, RONIN/FDUSD, and RONTRY.&nbsp;
It added that RONIN deposit transactions have been initiated for user preparation, and withdrawals are scheduled to start on February 6th at 16:30 TRT.
However, RONIN has seen a major surge of around 370% in the last 90 days. It is one of the top gaining crypto in the category. Can it sustain the pressure? 
Recent Santiment data reveals that the Relative Strength Index (RSI) for Ronin (RON) has surged from 74 to 76 in the past day. This indicates a high level of volatility in the RON price, signaling a potential cooldown.
In technical analysis, an RSI above 70 is often considered an overbought condition, suggesting that an asset may be due for a pullback or correction. The increase in RON’s RSI from 74 to 76 suggests that the price movement is characterized by high volatility, and traders might anticipate a cooling-off period.
To maintain a bullish momentum, Ronin’s RSI must stay below the 50 mark. Crossing the 50 threshold could indicate potential whale manipulation in the market.
The global crypto market is in recovery mode after Bitcoin price dropped below the $38K price level. The drop came in when the original crypto BTC gained approval to be linked with the ETF market. However, Bitcoin recently regained the $43K price level recovering from the drop.
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RONIN drops 19% in one hour amid Binance listing

Todayq News

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