The gaming cryptocurrency is experiencing a significant upswing after its sudden listing on Coinbase, the leading US cryptocurrency exchange.
Coinbase recently announced its decision to include support for Ronin (RON), a protocol developed by Sky Mavis, the team behind the blockchain “Play To Earn” the game Axie Infinity (AXS).
Coinbase will add support for Ronin (RONIN) on the Ronin network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) March 20, 2024
After the message the value of Ronin surged, posting an impressive 8.5% increase over the next 24 hours.
At the time of writing, the cryptocurrency has held on to its gains, hovering around $3.85, reflecting a 22% gain over the past 30 days.
In March 2022, Ronin was the victim of a significant hacking attack organized by the North Korean hacking group Lazarus, as confirmed by the US Treasury Department.
According to Chainalysis, a blockchain intelligence company, during the incident the Office of Foreign Assets Control (OFAC) added an Ethereum address (ETH), associated with the group, to its Specially Designated Nationals and Blocked Persons (SDN) list.
Earlier reports revealed that the hacker group was able to seize control of four validating nodes owned by Sky Mavis and one operated by Decentralized Autonomous Organization (DAO) Axie through a combination of human error and social engineering, leading to the theft of a staggering $600 million.
This news is republished from another source.
