Future

Rally

Dymension

Ronin

<a href="https://bitcoinworld.co.in/what-ronin-ron-plunged-nearly-30-after-binance-listing/" title="What? Ronin (RON) Plunged Nearly 30% After Binance Listing" rel="nofollow"></a>
Ronin (RON), the token powering the Ronin Network, experienced a rollercoaster ride in the past 24 hours, rallying to a two-year high before it <a href="https://coinstats.app/coins/ronin/">plunged</a> nearly 30% after its listing on Binance.&nbsp; 
This dramatic price swing has raised questions about potential market manipulation and the long-term viability of the project. 
<h3 id="span-style-font-weight-400-from-hero-to-zero-a-short-lived-rally-span">From Hero To Zero: A Short-Lived Rally</h3> 
On February 5th, RON enjoyed a meteoric rise, surging 15% to reach a peak of $3.54.&nbsp; 
This rally was fueled by investor optimism surrounding the network’s growing user base and address activity. Trading volume spiked to $80 million, signifying increased market participation. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/dymension-dym-gains-58-in-first-day-after-airdrop/" aria-label="“Dymension (DYM) Gains 58% In First Day After Airdrop” (Edit)">Dymension (DYM) Gains 58% In First Day After Airdrop</a> 
However, the euphoria was short-lived. Coinciding with the Binance listing <a href="https://www.binance.com/en/support/announcement/binance-will-list-ronin-ronin-with-seed-tag-applied-dfea1e2ae7fd475196b215e673193c63">announcement</a>, the price began a precipitous decline five hours after trading commenced on the exchange.&nbsp; 
By today, RON has shed nearly 30% of its value, currently trading at $2.54. This drop marks a breach of the crucial $3 support level, which the token had recently reclaimed after 14 months. 
<figure id="attachment_65238" aria-describedby="caption-attachment-65238" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-65238" src="https://bitcoinworld.co.in/wp-content/uploads/RON-Price-Chart-483x300.png" alt="" width="575" height="357" srcset="https://bitcoinworld.co.in/wp-content/uploads/RON-Price-Chart-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/RON-Price-Chart.png 760w" sizes="(max-width: 575px) 100vw, 575px">
 <figcaption id="caption-attachment-65238" class="wp-caption-text">
 RON Price Chart | Source: <a href="https://coinstats.app/coins/ronin/">Coinstats</a>
 </figcaption>
</figure> 
&nbsp; 
<h3 id="span-style-font-weight-400-negative-sentiment-and-selling-pressure-mount-span">Negative Sentiment And Selling Pressure Mount</h3> 
Social media sentiment surrounding RON mirrored the price action.&nbsp; 
Santiment data (chart below) reveals a 250% increase in social volume within 24 hours, but with a concerning shift towards bearishness. Negative sentiment spiked from 0.87 to 5.58, reflecting growing investor concerns. 
<figure id="attachment_65237" aria-describedby="caption-attachment-65237" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-65237" src="https://bitcoinworld.co.in/wp-content/uploads/santiment-720x257.webp" alt="" width="790" height="282" srcset="https://bitcoinworld.co.in/wp-content/uploads/santiment-720x257.webp 720w, https://bitcoinworld.co.in/wp-content/uploads/santiment-768x275.webp 768w, https://bitcoinworld.co.in/wp-content/uploads/santiment.webp 954w" sizes="(max-width: 790px) 100vw, 790px">
 <figcaption id="caption-attachment-65237" class="wp-caption-text">
 Ronin Sentiment | Source: Santiment
 </figcaption>
</figure> 
&nbsp; 
This negativity translated into significant selling pressure, with 24-hour trading volume soaring 275% to $203 million. Market participants, eager to offload their holdings, contributed to the downward spiral. 
<h3 id="span-style-font-weight-400-binance-under-scrutiny-pump-and-dump-allegations-span">Binance Under Scrutiny: Pump And Dump Allegations</h3> 
The timing of the price surge and subsequent crash has fueled speculation of a “pump and dump” scheme, with some accusing Binance of complicity.&nbsp; 
While no concrete evidence has surfaced, Yi He, Binance’s co-founder, acknowledged the concerns and announced a $5 million bounty program to expose any corrupt employees involved in such activities. 
<h3 id="span-style-font-weight-400-future-uncertain-a-cautious-outlook-span">Future Uncertain: A Cautious Outlook</h3> 
Despite the recent setback, RON still stands at a 23-month high compared to February 2022. However, the future remains uncertain.&nbsp; 
The sharp drop, shifting sentiment, and potential manipulation allegations have cast a shadow over the project’s prospects. 
<blockquote>
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</blockquote> 
&nbsp; 
#Binance #WRITE2EARN 
The post <a href="https://bitcoinworld.co.in/what-ronin-ron-plunged-nearly-30-after-binance-listing/">What? Ronin (RON) Plunged Nearly 30% After Binance Listing</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

What? Ronin (RON) Plunged Nearly 30% After Binance Listing

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