Gaming tokens dip as Bitcoin approaches $40K, but Ronin is on fire

Cryptocurrency market on red monday with Bitcoin Slipping Closer and closer to $40,000The largest gaming tokens declined more than the average coin. However, Ronin Network’s RON token is still enjoying a hot streak thanks to a weekend surge that pushed it near a two-year high.

The price of Ronin has risen 34% over the past week to the current price of $2.32, according to data from Queen Gekko, pushing RON into the top 100 cryptocurrencies list. It jumped to $2.52 on Sunday, the highest price seen for the token since February 2022.

the Ethereum Side chain The network was designed for gaming and was originally launched for Axi Infinity In 2021, further increasing the rise of the monster fighting game as a Playing for profit expertise Generated billions of dollars to She denied Trading volume that year.

Developer Sky Mavis gradually brought on board additional developers, and achieved great success pixela game ported to Ronin from the Ethereum sidechain ribbed Late last year. Amid interest in the game and excitement around the drop-and-play campaigns, Ronin It has seen a surge in daily active wallets.

pixel She finished her final campaign from play to drop on Friday before the upcoming PIXEL code launch, though the game will offer more in-game earning opportunities in the future. However, another Ronin game—Apeiron, a card-based game in the “God Game” genre—only It launched its own airdrop campaign last week.

RON has jumped 325% over the past year, according to CoinGecko. But amid the market decline, it has fallen by approximately 3% in the past 24 hours, which is in line with the market average during that period.

Most gaming tokens saw steeper declines during the period. UnchangeableThe IMX token fell 8% today to $1.80, while Firmness (beam) and Gala games (GALA) both fell by about 7%. Axie Infinity’s AXS governance token is down more than 5% today, instead In-game SLP reward code Decreased by 6%.