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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. The post Ronin’s DeFi TVL Grows 149% YoY, Boosted by RON Token’s 30% Price Rise appeared first on CryptoPotato .
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14 Altcoins Most Traded by South Koreans in the Last 24 Hours Revealed
South Korea’s largest cryptocurrency exchange Upbit has seen significant trading activity across a variety of altcoins over the past 24 hours. Here’s a detailed breakdown of the most traded coins and their performance. The information below shows the ranking of these altcoins by volume and the ratio of their trading volume to the total volume on the exchange. XRP (XRP) Trading volume in the last 24 hours: $707 million – 16.64% Bitcoin (BTC) Trading volume in the last 24 hours: $300 million – 7.08% Ethereum Name Service (ENS) Trading volume in the last 24 hours: $257 million – 6.07% BORA (BORA) Trading volume in the last 24 hours: $247 million – 5.83% UXLINK (UXLINK) Trading volume in the last 24 hours: $239 million – 5.64% Dogecoin (DOGE) Trading volume in the last 24 hours: $209 million – 4.93% Chainlink (LINK) Trading volume in the last 24 hours: $188 million – 4.43% Ethereum (ETH) Trading volume in the last 24 hours: $124 million – 2.92% Tether (USDT) Trading volume in the last 24 hours: $108 million – 2.56% Related News: Billionaire Technologist Reveals: “Bitcoin Has Two to Five Years Before It`s Decrypted” - Here`s Why Ondo (ONDO) Trading volume in the last 24 hours: $101 million – 2.38% Civic (CVC) Trading volume in the last 24 hours: $87 million – 2.05% Magic Eden (ME) Trading volume in the last 24 hours: $70 million – 1.66% Mask Network (MASK) Trading volume in the last 24 hours: $69 million – 1.64% Bitcoin Gold (BTC) Trading volume in the last 24 hours: $62 million – 1.48% Creditcoin (CTC) Trading volume in the last 24 hours: $62 million – 1.46% *This is not investment advice. Continue Reading: 14 Altcoins Most Traded by South Koreans in the Last 24 Hours Revealed Crypto Potato
Crypto Analysts Expect This $0.06 Altcoin to Eclipse Cardano and DOT by 2025
Crypto analysts are buzzing about a low-cost altcoin, currently valued at six cents, that they predict could surpass established giants like Cardano and Polkadot by 2025. This unexpected contender is making waves in the cryptocurrency community. Could this be the next big breakthrough in the digital asset world? $CYBRO Targets 1000% Growth Post-Listing With $7 Million Raised CYBRO, an AI-powered multichain earn marketplace, is about to hit a major milestone with its Token Generation Event (TGE). After a lightning-fast presale that raised an impressive $7 million and drew in nearly 20,000 investors, CYBRO is now gearing up for its listing on Gate.io and other major exchanges — and it’s happening on December 14th. During the presale, $CYBRO’s price surged 450% from $0.01 to $0.055 in its final stage. Now, with the token set to list at $0.06 on major exchanges, demand is through the roof. Many are predicting a 100x price surge once it hits the open market, thanks to the strong momentum and solid fundamentals backing the project. Join CYBRO Before the Listing Frenzy Drives Prices to the Moon What’s behind the hype? CYBRO combines cutting-edge AI with a user-friendly platform, offering tools like staking, farming, and lending that make DeFi investing accessible to everyone — from cautious newcomers to bold risk-takers. During its short presale CYBRO has already gone a long way in achieving crucial milestones: CYBRO App Launched: Users can now explore around 30 vaults offering competitive annual percentage yields (APY) to match their investment strategies perfectly First One-Click Strategy Introduced: The Blast Index, available in the Vaults list and on the One-Click page, simplifies investing by integrating with lending protocols Rapid Development Progress: CYBRO’s platform has laid the groundwork for seamless DeFi experiences, setting the stage for future growth and innovation. And there’s more to come. CYBRO’s roadmap through 2025 promises features like leverage farming, lending aggregators, and even smarter AI tools, cementing its place as a game-changer in decentralized finance. With the listing just around the corner, $CYBRO is about to make its mark on major exchanges with all the momentum it’s built so far, this token looks ready to take off. Seize the Chance to Get in Early Before Demand for $CYBRO Skyrockets Cardano (ADA): A Sustainable and Scalable Blockchain Platform Cardano is a blockchain platform built for smart contracts. It enables developers to create decentralized finance apps, crypto tokens, and games. Its native cryptocurrency, ADA, allows users to store value, make payments, and stake on the network. Cardano uses the Ouroboros proof-of-stake mechanism, which is more energy-efficient than the proof-of-work model. The blockchain is divided into two layers: the Cardano Settlement Layer for transactions and the Cardano Computing Layer for smart contracts. This design enhances its ability to process transactions, potentially handling up to 1 million transactions per second. Cardano’s native tokens offer secure, low-fee interactions with smart contracts, improving blockchain efficiency and scalability. Polkadot (DOT): Connecting Blockchains for Enhanced Scalability Polkadot (DOT) is a decentralized protocol that lets different blockchains communicate securely. It allows value and data to be shared between networks like Ethereum and Bitcoin without intermediaries. By using parachains, Polkadot improves speed and scalability, handling more transactions than Bitcoin and Ethereum. The DOT token is used for governance and staking within its network. Holders can take part in development decisions and help verify transactions. Created by Gavin Wood, co-founder of Ethereum, Polkadot aims to make blockchains more interconnected and efficient. Conclusion In conclusion, while established cryptocurrencies like Cardano (ADA) and Polkadot (DOT) have seen significant growth, their potential in the short term appears limited. In contrast, CYBRO offers a technologically advanced DeFi platform that provides investors with exceptional opportunities to maximize earnings through AI-powered yield aggregation on the Blast blockchain. With features such as attractive staking rewards, exclusive airdrops, and cashback on purchases, CYBRO delivers a superior user experience with seamless deposits and withdrawals. By prioritizing transparency, compliance, and quality, CYBRO distinguishes itself as a promising project attracting strong interest from major investors and influencers. As the bullish market of 2024 unfolds, CYBRO is well-positioned to surpass its competitors by 2025. Site: https://cybro.io Twitter: https://twitter.com/Cybro_io Discord: https://discord.gg/xFMGDQPhrB Telegram: https://t.me/cybro_io Continue Reading: Crypto Analysts Expect This $0.06 Altcoin to Eclipse Cardano and DOT by 2025 Crypto Potato
