Ronin (RON), the token powering the Ronin Network, experienced a rollercoaster ride in the past 24 hours, rallying to a two-year high before crashing nearly 30% after its listing on Binance. This dramatic price swing has raised questions about potential market manipulation and the long-term viability of the project. Related Reading: Market Dip? Not For Dogecoin Wallets As Over 400,000 New Users Drive Frenzy Upward From Hero To Zero: A Short-Lived Rally On February 5th, RON enjoyed a meteoric rise, surging 15% to reach a peak of $3.54. This rally was fueled by investor optimism surrounding the network’s growing user base and address activity. Trading volume spiked to $80 million, signifying increased market participation. However, the euphoria was short-lived. Coinciding with the Binance listing announcement, the price began a precipitous decline five hours after trading commenced on the exchange. By today, RON has shed nearly 30% of its value, currently trading at $2.54. This drop marks a breach of the crucial $3 support level, which the token had recently reclaimed after 14 months. Ronin currently trading at $2.7899 on the daily chart: TradingView.com Negative Se ..
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