Binance’s hot wallet tagged (0xb3…AFA3) has collected 137.8k RON from thousands of wallets since January 26th. This behavior has sparked speculation about Binance’s listing of RON, leading to a 15% increase in 24 hours. However, it is more likely that Binance is collecting funds from users who mistakenly deposited RON over the past few years, although this is debatable.
A 15% Rise in Token Value
Binance’s hot wallet tagged (0xb3…AFA3) has collected 137.8k RON from thousands of wallets since January 26th . This behavior has sparked speculation about Binance’s listing of RON, leading to a 15% increase in 24 hours. The combined volume of the RON tokens in the Binance hot wallet is $20.85 million at the time of reporting.
Binance is one of the world’s largest cryptocurrency exchanges, with a daily trading volume of over $10 billion. The exchange has been in operation since 2017 and has a reputation for being secure and reliable. Binance’s hot wallet is used to store cryptocurrencies that are frequently traded on the exchange. The wallet is connected to the internet and is therefore vulnerable to hacking attempts.
What to Know About Ronin
Ronin, more than just a digital wallet, is the gateway to a burgeoning ecosystem of blockchain-based games. Built on its own Ethereum sidechain, Ronin offers faster transaction speeds and lower fees compared to the mainnet, making it ideal for the fast-paced world of play-to-earn games.
At the heart of this ecosystem lies RON, the token that fuels every operation. Players use RON to pay gas fees for transactions within the network, participate in governance by voting on proposals that shape the platform’s future, and even earn rewards by staking their tokens and contributing to the network’s security.
A Growing Ecosystem
Beyond its connection to popular games like Axie Infinity, Ronin welcomes a diverse range of games and applications, from virtual land ownership in Decentraland to prediction markets like Opium Protocol. This growing ecosystem presents exciting possibilities for developers and players alike, making Ronin a potential cornerstone of Web3 gaming. While RON’s price fluctuates like any cryptocurrency, its close ties to this thriving ecosystem and its role in powering a revolutionary platform hold significant promise for the future.
The collection of RON by Binance’s hot wallet has raised concerns among investors and traders alike. Some speculate that Binance may be planning to list RON on its exchange, which could lead to a surge in demand for the currency.
Regardless of the reason behind the collection of RON, it is important for Binance users to exercise caution when depositing funds into the exchange. Users should always double-check the currency they are depositing and ensure that they are sending it to the correct wallet address. Additionally, users should enable two-factor authentication (2FA) on their Binance accounts to add an extra layer of security.