Ronin Hits All-Time High Price as Ethereum Gaming Network Hosts Free ‘Kaidro’ NFT Mint

Ronin, a gaming-centric Ethereum scaling network, continued its recent ascent early Wednesday, setting a new all-time high price to beat its previous record from 2022.

The RON token spiked to $4.45 early Monday, though it has since cooled slightly to $4.31 as of this writing, per data from CoinGecko. Its still up 12% on the day, and the latest surge has pushed its seven-day gains to a whopping 53% following a weekend pump.

The previous all-time high Ronin price was $4.29, set in January 2022—before flagship game Axie Infinity lost traction and the network dealt with a $622 million exploit to its Ethereum mainnet bridge.

Ronin has more than doubled in price over the last three months due partly to the rise of Pixels, a social farming game built around NFTs and the PIXEL token. Pixels launched the token in February following multiple play-to-airdrop campaigns that drove hype around the game, but its daily active user count has only grown since then.

Along with continued support for Axie Infinity, the Ronin network is also onboarding more and more developers and games. One of those games, a role-playing adventure called Kaidro, announced that it will hold a free NFT mint beginning Wednesday.

Each Ronin wallet will be able to mint one free “crate” during a 24-hour period beginning at 9 pm ET. During that window, an unlimited number of NFT crates can be minted. NFT holders will also be able to claim a free in-game Kaidro character skin within Pixels.

— Kaidro ???? (@kaidrochronicle) March 13, 2024

PIXEL is also up nearly 32% this week after setting a new all-time high price over the weekend, while Axie Infinitys AXS governance token has risen 26% over the past seven days.

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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Edited by Ryan Ozawa.