The protocol's total value locked remains below 2022 highs but has gained ground.
Ronin, the gaming blockchain created by Axie Infinity developer Sky Mavis, has largely upheld the token (RON) rally witnessed in the past quarter, despite a rocky start to its token listing on crypto exchange Binance.
On Feb. 5, the price of Ronin tokens saw significant volatility, falling more than 40% to $2.52 after a 28% gain the prior week. RON currently trades at $2.63 at the time of publication.
Prior to the listing, a combination of token accumulation visible on blockchain scanner and leaked external communications from Binance led to the accumulation of RON by insiders, who then swiftly sold after the actual token was listed, driving down its price.
