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Ronin’s DeFi TVL Grows 149% YoY, Boosted by RON Token’s 30% Price Rise

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Ronin, the Layer 1 blockchain developed by Sky Mavis, experienced a significant 149% year-over-year increase in DeFi TVL, reaching $147 million in Q3 2024.

There are several factors influencing this growth. One of the major catalysts was, however, the price surge of the RON token.

Ronin’s DeFi, NFT Demand Grows

According to Messari’s latest report, Ronin’s DeFi TVL rose from $59 million in Q3 2023 to $147 million in Q3 2024. The figure was boosted by a 30% increase in the RON token price and wider ecosystem adoption. At the same time, native token TVL fell by 36%, from 128 million to 82 million tokens, indicating less participation.

This could be because of fewer token-locking incentives, a shift to gaming and NFTs, and a preference for holding RON tokens. RON holders increased by 11,611%, reaching 527,000 in Q3 2024, with a 20% growth from Q2.

Interestingly, Katana DEX holds a dominant 99% share of the total DeFi TVL on the Ronin network, while the next two largest protocols, Sablier Finance and MetaLend, contribute just 0.0029% and 0.77%, respectively. As the main decentralized exchange on Ronin, Katana drives liquidity and token swaps for assets like RON, AXS, and SLP. While Katana’s TVL dropped 9% QoQ from $165 million in Q2 2024 to $150 million in Q3 2024, it saw a 154% YoY increase, rising from $59 million in Q3 2023 to $150 million in Q3 2024.

Throughout the year, Ronin’s daily NFT buyers generally outnumbered sellers, indicating a preference for holding. In Q3 2024, both buyers and sellers grew by 17%, with the former rising from 4,400 to 5,100 and the latter from 3,700 to 4,300. This growth followed a record-high in June this year, fueled by the Coinbase Learn campaign and Ronin Carnival, which featured Axie Infinity missions, a $1 million competition from Apeiron, and free trials from 0xScope. These events led to peak engagement with 28,000 buyers and 20,000 sellers.

Zooming out, Ronin’s daily transactions grew 24% QoQ in Q3, rising from 1.8 million to 2.2 million. This growth was driven by new games and partnerships. However, average daily transaction fees fell 20% QoQ, dropping from $7,000 to $5,000, likely due to Ronin focusing on expanding its ecosystem.

Compared to Q3 2023, daily transactions skyrocketed by 2,300%, from 90,000 to 2.2 million, and transaction fees rose 4,000%, from $134 to $5,000. Active addresses also grew by 23% QoQ, while new addresses increased by 22%.

Ronin’s Security Woes

Known for being the victim of the most costly DeFi hack, Ronin was breached in 2022 when an attacker used inadequate private key security to authorize a fraudulent transaction, draining $624 million from the cross-chain bridge.

In August 2024, the platform suffered another attack, losing $12 million due to a smart contract flaw introduced by a recent upgrade.

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Bitcoin Enters New Volatile Range as Markets Continue to Struggle

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As the crypto market continues to struggle, bitcoin (BTC) has broken into a new volatile range. On March 10, the cryptocurrency fell below $80,000 and touched the $76,800 range before climbing back up to $81,000 at the time of writing.

According to the latest edition of the Bitfinex Alpha report, the cryptocurrency’s decline to $76,800 triggered massive losses in the market, with investors recording over $950 million in liquidations for both short and long positions.

Bitcoin in New Volatile Range

Bitfinex said its analysts expected a temporary upside move toward the previous range lows near $90,000 after BTC fell briefly below $80,000 in February. The expectations played out earlier last week, with the leading cryptocurrency reclaiming those levels before consolidating between $85,000 and $92,000 towards the weekend.

However, bitcoin’s volatility increased as the Crypto Summit at the White House approached. Bitfinex said this was fueled by speculation around the creation of a U.S. Strategic Crypto Reserve. By the way, around that time, President Donald Trump signed an executive order establishing the bitcoin reserve and a digital asset stockpile.

When news emerged on March 7, crypto prices rallied across the market. However, the gains were soon erased as investors understood that the order would not result in any immediate new buying of BTC or other cryptocurrencies. This, in addition to one of the largest Bitcoin and Ethereum options expiry event on the same day (up to $3 billion), triggered more short-term fluctuations, leaving investors in losses.

Market Stabilization on the Horizon?

Regardless of bitcoin’s negative price action, the leading cryptocurrency has been stable relative to altcoins. But market sentiment about the coin remains cautious, and liquidity conditions and macroeconomic uncertainty are playing key roles in the asset’s next move.

“The intense whipsaw in price action over the past two weeks has created turbulent market conditions and driven a surge in realized volatility for Bitcoin, particularly across shorter time frames,” the report stated.

On the other hand, the Bitcoin options market has reached some of the highest levels of realized volatility in this cycle, surpassing 80% for its one-week and two-week timeframes. This level of realized losses shows that many traders and short-term holders have been forced to exit their positions below their cost basis. This means they have sold their assets at a loss.

However, Bitfinex said such mass capitulation events often precede a phase of market stabilization because strong hands start accumulating as weak hands leave the market.

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Meme Index ICO Nears $4M With 20 Days Left – Next Meme Coin to Explode?

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Have you ever found yourself scrolling through X (Twitter) or Reddit, trying to spot the next big meme coin before it takes off?

You can ditch that approach thanks to Meme Index (MEMEX).

This project is transforming meme coin investing and has already raised nearly $4 million in ICO funding.

But with just 20 days left before the ICO ends, could MEMEX be the next crypto to explode?

What is Meme Index and How Does It Unlock Meme Coin Diversification?

So, what is Meme Index?

Instead of stressing over which meme coin to pick, Meme Index lets you diversify across the entire sector with curated “baskets.”

Think of these baskets as ETFs for meme coins, but more accessible and completely decentralized.

For example, say you’ve got $500 to invest but can’t decide between DOGE, SHIB, or PEPE.

Meme Index has you covered – with four different indexes, you can gain exposure to multiple coins at once.

There’s the Titan Index for the bigger coins, and the Moonshot Index for up-and-comers with potential.

The Midcap Index hits the sweet spot of established but still growing coins.

And for the truly risk-seeking investors, there’s the Frenzy Index – filled with low-cap plays that could produce explosive returns.

MEMEX token holders get to vote on which coins will be added to each index.

That means the developers aren’t calling the shots – a community of meme coin enthusiasts decides what’s hot and what’s not.

MEMEX Token Staking App and Analyst Backing Set Stage for Post-Listing Growth

But Meme Index isn’t just about index funds.

The project also has a staking app that’s up and running – even while the ICO is still live.

Right now, it offers yields of 573% per year, though they will decrease as more investors get involved.

Still, that hasn’t stopped investors from locking up 174 million MEMEX so far.

Meme Index’s ICO is crushing it, having already raised $3.9 million in funding.

With just 20 days left before MEMEX’s open market debut, FOMO is beginning to kick in, and investors are rushing to secure tokens for $0.0166883 each.

All the signs of a project gaining momentum are there – a growing Telegram presence and rankings on top sites like ICOBench.

Even popular YouTubers are taking notice.

Crypto expert Borch Crypto took a deep dive into the project last week and said it could “explode” after listing.

Meme Index Continues to Thrive Despite Meme Coin Market Chaos

Meme coins in general are taking a beating right now.

DOGE has dropped to $0.154, SHIB is sitting at $0.0000114, and SPX just took a 23% hit since yesterday.

The sector’s entire market cap has shrunk to $43 billion – a far cry from where it was in December.

Yet, Meme Index continues to pull in investors.

This early demand is mainly because Meme Index offers something different from most other meme coins.

It’s not just another dog or cat-themed token looking to pump and then dump – it has an actual use case.

Meme coins have always been unpredictable, but Meme Index’s index-based approach brings order to the chaos.

Instead of guessing which coin will explode next, investors can gain exposure to several at the same time.

For beginners, this could be extremely helpful.

Most beginners will suffer at least one painful loss when they first dive into the meme coin space.

But with Meme Index, they soften the blow by spreading their bets across multiple meme coins.

It’s a quick and easy way to diversify.

With millions already raised in its ICO and an exchange listing on the horizon, Meme Index might be one to keep an eye on.

Visit Meme Index ICO

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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Is it Time to Grab the Crypto Dip – RAD, ARKM and BTCBULL Outlook

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The crypto market is crashing right now – but is this the time to worry, or is it a golden opportunity?

Experienced traders know that deep in the red is where the best deals lie.

And with some experts still bullish on tokens like Arkham (ARKM) and BTC Bull Token (BTCBULL), those who act now could be rewarded when the market recovers.

Is the Crypto Market Crash a Golden Opportunity?

It’s a tough time to be a crypto investor.

Everyone is dumping risk assets, spooked by the latest tariff wars between the U.S., China, Mexico and Canada.

These economic tensions have triggered a domino effect – traditional markets are tanking, with the S&P 500 shedding $1.4 trillion yesterday and crypto stocks like MicroStrategy and Coinbase plunging double digits.

With over $700 million in liquidations, it’s no surprise Bitcoin and altcoins are struggling to find solid support.

The Crypto Fear and Greed Index has also fallen to a two-year low of 24, now in “Extreme Fear” territory.

But history shows that fear often creates opportunity – so is this dip a chance to get in before the next leg up?

Arkham Price Rallies 60% After Upbit Listing as Experts Back It for Further Gains

One altcoin that experts remain bullish on is Arkham.

This AI-powered blockchain analytics platform saw a strong boost today after ARKM was listed on Upbit, South Korea’s largest exchange, prompting a 60% price surge.

Although ARKM sold off a bit since then, holders are still optimistic about the token’s prospects.

Arkham’s core value lies in its ability to deanonymize blockchain transactions, making it a go-to tool for institutions tracking fraud and illicit activity.

Its “ULTRA AI” engine maps wallet addresses across multiple chains, while the Intel Exchange allows users to trade blockchain intelligence like stolen fund trails.

The platform has also caught attention with its influencer tracking feature – exposing discrepancies between what they promote and what they actually hold.

Popular trader Moon Whales on Twitter believes ARKM could be about to take off.

He tweeted earlier today that a “clean breakout” above the $0.70 level could extend the token’s rally.

BTC Bull Token Presale Nears $3.5M Mark – Could This be the Next Big Meme Coin?

BTC Bull Token is another coin that’s still doing well despite the market dip.

Built on Ethereum, this token is designed to reward holders with actual Bitcoin while using deflationary tokenomics to drive scarcity.

The project has raised almost $3.5 million in its presale, and with influencers like Danjo Capital Master backing it, the hype isn’t going away anytime soon.

BTCBULL’s reward system is its key selling point.

It’s tied directly to Bitcoin’s price milestones – holders get Bitcoin airdrops when BTC hits $150K, $200K, and beyond.

On top of that, the team will slash the token supply by 15% at key Bitcoin price levels, boosting BTCBULL’s value in the long run.

Throw in staking rewards estimated at 123% per year, and it’s easy to see why the project has gone viral.

None of this comes at the expense of safety, as Coinsult and SolidProof verified the project’s security through smart contract audits.

So, with strategic partnerships reportedly in the pipeline and a growing community, BTCBULL might be positioned to rally once the market picks back up.

Traders Predict Big Gains for Web3 Crypto Project Radworks

Alongside Arkham and BTC Bull Token, experts are also bullish on Radworks (RAD), a project that is shaping the future of decentralized software development.

Its censorship-resistant tools make it a key piece of Web3 infrastructure, and traders are beginning to take notice.

According to CryptOpus on Twitter, RAD looks like it’s about to break out of a falling wedge on the weekly chart – a classic bullish setup.

The token is already up 39% in the past day alone.

Radworks’ flagship tools, Radicle and Drips, are its main selling points, with over 1,200 projects funded since 2023.

As demand for these tools grows, we could see RAD rise in tandem.

In fact, spot trading volumes for RAD have rocketed 625% since yesterday, helping it rank on CoinMarketCap’s trending cryptos list.

That helps explain why Radworks could be the market’s next big mover if this momentum keeps up.

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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