The Rise of Ronin Network TVL on Axis Infinity Side Chain: A Comprehensive Guide
On April 14th, according to Defillama data, the Ronin Network TVL on the Axis Infinity side chain of the chain game returned $100 million after October, and is currently at $106.5
On April 14th, according to Defillama data, the Ronin Network TVL on the Axis Infinity side chain of the chain game returned $100 million after October, and is currently at $106.5 million, a 24-hour increase of 13.02%. As of the time of publication, RON is currently quoting $1.439, a 24-hour increase of 17.18%.
Data: Ronin Network TVL returned $100 million after 10 months
Have you heard of Ronin Network TVL on Axis Infinity side chain? If you’re a cryptocurrency enthusiast, then you have probably come across this blockchain game. In recent news, Defillama data reveals that the Ronin Network TVL on the Axis Infinity side chain experienced a significant increase in value from $100 million to $106.5 million on April 14th, 2021. This surge translates to a 24-hour gain of 13.02%, which is making headlines in the cryptocurrency industry. Moreover, at the time of publication, RON is currently trading at $1.439, indicating a 24-hour increase of 17.18%. This guide examines the Ronin Network’s TVL on Axis Infinity’s side chain’s rise and what it means for blockchain gaming.
What Is Ronin Network TVL on the Axis Infinity Side Chain?
Before delving into the astounding increase in Ronin Network TVL on Axis Infinity’s side chain value, it is essential to understand what Ronin Network TVL is and how it aligns with the Axis Infinity side chain. Ronin Network is a layer-two scaling solution built on Ethereum. The network aims to enhance gaming on Ethereum by increasing transaction speeds and reducing gas fees. Note that Ronin Network is not a cryptocurrency. Instead, it allows developers to create gaming applications for players to transact with each other using non-fungible tokens (NFTs).
Axis Infinity, on the other hand, is a game that uses blockchain technology to create an economy that enables trade between digital assets. Axis Infinity also utilizes Ethereum as its base layer. However, in a bid to enhance the user experience, the game developers integrate Ronin Network’s layer-two scaling solution to create a faster and cheaper gaming experience for players on its platform.
Why Has Ronin Network TVL Increased on Axis Infinity’s Side Chain?
The recent upsurge in Ronin Network TVL on Axis Infinity’s side chain can be attributed to multiple factors. Firstly, the platform’s ability to reduce gas fees and enhance transaction speeds has attracted more gamers to the platform. As more individuals sign up to play games on the platform, the demand for RON tokens increases, leading to a rise in the platform’s TVL.
Secondly, the increasing hype surrounding NFTs has also contributed to the increased demand for RON tokens. As the world of blockchain gaming evolves, developers are creating more NFT-based games, leading to a surge in demand for platforms like Axis Infinity that allow the trade of NFTs.
Thirdly, Ronin Network’s alignment with Ethereum offers its users access to wider gaming functionality, leading to increased traffic on the platform. This traffic has contributed to the surge in network activity, which in turn, has boosted the platform’s TVL and token value.
The Future of Ronin Network TVL on Axis Infinity Side Chain
It’s no secret that the world of blockchain gaming is growing at a rapid pace. It is, therefore, no surprise that platforms like Ronin Network TVL and Axis Infinity’s side chain are growing along with it. As the demand for blockchain gaming increases, developers will seek to create more engaging games that support NFT-based transactions. This trend will lead to increased traffic on platforms like Axis Infinity, and by extension, boost the value of RON tokens.
Moreover, as more gamers seek cost-efficient and faster gaming experiences, more developers will embrace Ronin Network’s layer-two scaling solution, thereby increasing its exposure in the blockchain gaming industry. These trends point to a bright future for RON tokens and the platform as a whole.
Conclusion
The rise of Ronin Network TVL on Axis Infinity’s side chain is a testament to the promising future of blockchain gaming. The platform’s ability to enhance transactional efficiency and reduce gas fees has made it popular among blockchain gaming enthusiasts. Moreover, the growing hype around NFTs and the versatility of Ronin Network and Axis Infinity has contributed to the increased demand for the platform’s tokens. As blockchain gaming takes the world by storm, the future of Ronin Network TVL on Axis Infinity’s side chain looks bright.
FAQs
1. What is the Ronin Network?
Ronin Network is a layer-two scaling solution built on Ethereum, designed to enhance gaming experiences on the blockchain.
2. What is Axis Infinity?
Axis Infinity is a blockchain-based game that uses digital assets to create an economy that enables trade between gamers.
3. What is the future of Ronin Network TVL on Axis Infinity Side Chain?
The future of Ronin Network TVL on Axis Infinity side chain is promising, as developers continue to create more engaging games that rely on non-fungible tokens, leading to increased traffic on the platform and boosting the value of RON tokens.
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