Ronin Network, which has created a name for itself in play-to-earn (P2E) games, has attained a new milestone in the NFT space. It saw a total sales volume of around $4.07 billion as of June 5.
This milestone comes as a breather for the network after its coin RON dived to new high lows in the May market crash. As such, its market capitalization fell below $70 million. Now, the Ronin Network is way ahead of Solana, Flow, Polygon, WAX, Avalanche, Palm, Immutable X, Tezos, Panini, and Binance Smart Chain (BSC).
Ronin’s high sales volume is attributed to the increase in the number of unique buyers from August. It spiked the total transaction counts – 305,127 unique buyers and 1,853,437 transactions. During this period, Ronin also saw monthly sales volume at an all-time high – at around $848.24 million. Most of the volume came from Axie Infinity, the biggest P2E game.
It should be noted that RON emerged as a crypto trading asset in January 2022 – opening on January 27 at $3.56. The coin reached an all-time high of $4.32 the very same day. However, it fell to the low of $0.4275 on May 27. It has seen a decline of 87%.