Can Roning gain trust of crypto community and make a comeback
Ronina Tier 1 solution created primarily for gaming monetization campaigns, has seen impressive growth over the past year.
After recovering from the recent hack, Ronin has his sights set on future targets.in the detailed roadmap they shared websiteRonin gave a brief overview of developing their “Land Gaming Community: Alpha” and their AXS ecosystem for the remainder of 2022.
The community’s goal is to create a single application that interacts with the entire Axie Infinity ecosystem. This will include social networks, marketplaces and multiple games.
However, their overall goals have yet to be achieved. do not forget, Ronin has to overcome many obstacles to reach the final destination.
In light of the Ronin Bridge hack that took place in March, one of the main hurdles was regaining user trust. Although the Ronin Bridge opened to traffic on June 28, it still has a long way to go.
One of the ways Ronin improves its security is by adding 21 independent validating nodes to jointly secure the network. However, only 14 node be found.
Additionally, TS Total Value Locked (TVL) has depreciated significantly over the past two quarters, dropping 82.7%. Well, TVL has been on a downward trend since August.
However, it rose on September 15th. And, it remains to be seen whether TVL will maintain this momentum.
Also, as can be seen from the graph below, the total revenue generated has declined.
It’s important to note that Axie Infinity: Origin, a game built on the Ronin Network, was released earlier this quarter. As a result, daily revenue surged at the beginning of the year.
Since then, Ronin’s daily revenue (in dollars) has gradually declined as the initial enthusiasm surrounding the new release faded.
This is evidenced by the drop in breeding fees, which are paid when players breed their Axies.
That being said, the game update helped reinvigorate Axie Infinity and Ronin with land mortgages and Ronin Bridge fixes.
On September 20, at press time, the Ronin token was trading at $0.256, up 2.85% in the past 24 hours.
Its market cap rose 2.41%, and its total trading volume fell 17.09%.