Once financial systems are this deeply interconnected, a bad diagnosis actively becomes part of the risk.
The small-cap token's bulls need to defend the former range highs and sustain the buying pressure to keep the rally going.
Coinbase has announced plans to launch spot trading for Wrapped Ronin (WRON), adding the token to its exchange platform and opening a new access point for traders looking to gain exposure to the Ronin ecosystem.
Ronin said that its migration to Ethereum is complete, ending downtime and moving the network into its next phase. According to Ronin's blog, the chain is now a Layer 2 on Ethereum while continuing to operate under the Ronin name.
Ronin L2 migration completed May 12, ending four years as a sidechain after a 10-hour network shutdown.
Ronin Ethereum is migrating to a Layer 2 on May 12 with roughly 10 hours of scheduled downtime.
Ronin plans a hard fork to become an Ethereum layer 2 and reduce token inflation while improving network security.
Ronin will execute a hard fork to migrate from an independent sidechain to Ethereum Layer 2, with approximately 10 hours of downtime. The transition to the OP Stack will reduce RON token inflation from over 20% annually to less than 1%, redirecting 90 million tokens to the Ronin Treasury.
RON gained ahead of Ronin's Ethereum migration as traders assessed the network's major tokenomics overhaul and new Layer 2 infrastructure.
The purpose behind the migration is to enhance security, tokenomics and scalability, said Ronin, which suffered the largest DeFi bridge exploit on record in 2022.
Binance has announced it will support the Ronin (RONIN) network migration, allowing users holding RONIN tokens on the exchange to have their assets handled automatically during the transition without manual intervention.
Axie Infinity's Ronin Network moves to Ethereum, reduces inflation, and introduces Proof of Distribution rewards.