Ronin (RON) has emerged as the top gainer among the leading 100 cryptocurrencies as the number of active addresses rises.
RON is up by 15% in the past 24 hours and is trading at $3.51 at the time of writing. The asset’s market cap stands at around $1 billion with a daily trading volume of around $80 million.
According to an X post, the number of daily active Ronin addresses increased by five times over the past two months.
Data provided by Santiment shows that Ronin’s social activity also surged by 9% over the past 24 hours.
Following the price incline, investor sentiment also rose from 6.08 to 8.12, according to Santiment. This shows that investors are optimistic about their RON investments until further price movements.
On the other hand, Santiment data shows that RON’s Relative Strength Index (RSI) surged from 74 to 76 over the past day. This shows that the RON price is moving with high volatility and a price cooldown would be expected.
For Ronin to stay in the bullish zone, its RSI would need to stay below the 50 mark as whale manipulation could be in play.
Moreover, Binance announced to list Ronin earlier today and said that trading will open on Feb. 6 at 13:30 UTC. However, the exchange did not use the RON ticker in its announcement — Binance said it would list “Ronin (RONIN)” in its statement.