Gaming Tokens Plunge as Bitcoin Nears $40K—But Ronin Is On Fire

The cryptocurrency market is in the red Monday with Bitcoin slipping closer and closer to $40,000, and the largest gaming tokens have fallen harder than the average coin. However, the Ronin network’s RON token is still enjoying a hot streak thanks to a weekend surge that pushed it near a two-year high.

Ronin is up 34% over the last week to a current price of $2.32, according to data from CoinGecko, pushing RON into the top 100 cryptocurrencies. It jumped as high as $2.52 on Sunday—the highest price seen for the token since February 2022.

The Ethereum sidechainsidechain network is designed for games and was originally launched for Axie Infinity in 2021, fueling the monster-battling game’s surge as the play-to-earn experience generated billions of dollars of NFT trading volume that year.

Developer Sky Mavis has gradually onboarded additional developers, and found a hit with Pixels, a game that migrated to Ronin from Ethereum sidechain Polygon late last year. Amid interest in the game and excitement around its play-to-airdrop campaigns, Ronin saw a surge in daily active wallets.

Ronin Gaming Wallet Now Supports Ethereum, Polygon, and BNB Chain

The Ronin blockchain’s official crypto wallet just got a massive upgrade. Sky Mavis, maker of the play-to-earn NFT game Axie Infinity and the developers behind the Ronin gaming sidechain for Ethereum, have added multichain support to the Ronin wallet mobile app for iOS and Android devices.  The Ethereum mainnet, the Ethereum sidechain Polygon, and Binance’s BNB Chain will now be accessible in the latest update, according to an image in the announcement. The new version of the app that began its...

Pixels ended its final play-to-airdrop campaign on Friday ahead of the upcoming PIXEL token launch, though the game will offer further in-game earning opportunities in the future. However, another Ronin game—Apeiron, a card-driven riff on the “god game” genre—just launched its own airdrop campaign last week.

RON has jumped 325% over the last year, per CoinGecko. But amid the down market, it has fallen about 3% over the past 24 hours, matching the market average during that span.

Game On: The Hottest Upcoming Gaming Token Airdrops on Ethereum, TON, Base and Beyond

Airdrop season is in full swing, with apps, protocols, and other projects seizing upon bear market vibes and regulatory shifts to finally drop their tokens—and potentially reward millions of crypto users in the process. What exactly is an airdrop, though? When it comes to crypto tokens, an airdrop is typically a way for a project to reward its early users and contributors by giving them a share of a newly launched token, all while spreading the tokens far and wide for decentralized governance. W...

Most gaming tokens have seen sharper drops during the span. Immutable’s IMX token is down 8% today to $1.80, while Beam (BEAM) and Gala Games (GALA) are both down about 7%. Axie Infinity’s own AXS governance token is down over 5% today, while the in-game SLP reward token is down 6%.