Can Roning gain trust of crypto community and make a comeback
the roninA Tier 1 solution originally built for the game-to-earn movement, has seen some impressive growth over the past year.
After recovering from his recent hack, Ronin is focused on his future goals. In an elaborate roadmap they shared websiteRonin gave an overview of their ‘Land Gameplay Community: Alpha’ and their AXS Ecosystem development through the rest of 2022.
The community aims to create a single application that will communicate with the entire Axis Infinity ecosystem. It will include social networks, marketplaces and multiple games.
However, their overall goal has not yet been achieved. don’t forget Ronin has to overcome many obstacles to reach his final destination.
The Ronin Bridge hack in March will be a major hurdle to regaining user confidence. Although the Ronin Bridge opened on June 28, it still has a long way to go.
One of the ways Ronin has improved its security is by adding 21 independent verifier nodes to collectively secure the network. However, only 14 Node found
Moreover, ts total value lock (TVL) has depreciated drastically in the last two quarters and has decreased by 82.7%. Well, TVL is down since August.
However, it registered an uptick on September 15. And, it remains to be seen whether TVL will sustain this momentum.
Moreover, the total revenue generated has decreased which can be seen from the figure below.
It should be noted here that Axis Infinity: Origins, a game developed by Ronin Networks, was released at the beginning of the quarter. Thus, causing a jump in daily revenue at the beginning of the year.
Since then, Ronin’s daily earnings (in USD) have gradually declined, as the initial enthusiasm surrounding the new release has waned.
This was demonstrated by the reduction of breeding fees, which are paid when players breed their axes.
That being said, along with land staking and the restoration of Ronin Bridge, the game update has helped revitalize both Ax Infinity and Ronin.
Ronin Token, at press time on September 20, was trading at $0.256 with an increase of 2.85% in the last 24 hours.
Its market cap increased by 2.41% and its total trading volume depreciated by 17.09%.