Ronin’s $4M RON Buyback: Will It Save the Day? 🚀💸

by

Oh, honey, grab your popcorn 🍿 because the Ronin Treasury is about to go on a shopping spree! They’re planning to swoop up over $4 million worth of RON tokens like it’s a Black Friday sale at Zara. Why? To “reduce the circulating supply,” they say. Aka, they’re trying to make RON as rare as a man who texts back promptly. 😏

The gaming-focused blockchain Ronin Network (yes, the one that’s been through more drama than a Bridget Jones sequel) announced on Sunday that they’ll start swapping all their Ether (ETH) and USDC for RON starting Sept. 29. Because nothing says “comeback” like a month-long token swap, right? 💅

Apparently, this will “further align our ecosystem, tokenholders, and builders.” Translation: They’re trying to keep everyone happy while Ronin evolves into a “full-fledged layer-2.” Good luck with that, babes! 🍀 Meanwhile, there are 693 million RON tokens out of 1 billion circulating, giving Ronin a market cap of $355.7 million. Not too shabby, but let’s see if this buyback can spice things up! 🌶️

The Ronin Treasury, currently worth around $5.5 million, is basically a crypto hoarder with 896 Ronin Wrapped Ether (WETH) valued at $3.9 million. Plus, they’ve got some USDC, RON, and even a few memecoins lying around. Talk about a diversified portfolio! 💼

Less ETH, more RON

In addition to the Ether, they’re also selling 652,000 USDC and 1.2 million RON. All this cash was raked in from fees on the Katana DEX, Ronin Market, and Ronin Name Service over the years. So, basically, they’re spending their savings on a little self-care. Treat yourself, Ronin! 💸

The buyback is just 1.3% of RON’s circulating supply, but hey, every little bit helps, right? And don’t worry, they’re not planning to sell any of it. Phew! 🙌

Ronin Treasury Buyback Chart

Ronin’s Ethereum Homecoming: Third Time’s the Charm? 🏠

Remember when Ronin left Ethereum in 2021 for “better network speeds” and “cheaper fees”? Well, guess who’s crawling back as a layer-2 network? Yep, Ronin! “Wall Street is jumping into our industry,” they said. More like, “We missed the Ethereum party and now we’re fashionably late.” 🎉

Let’s not forget the $600 million hack in March 2022-the crypto equivalent of a bad breakup. Total value locked plummeted from $1.2 billion to $56 million. Ouch. But hey, everyone deserves a second chance, right? (Or third, in Ronin’s case.) 😬

RON Price: Up, Down, and All Around 🎢

RON prices spiked 11% to $0.54 after the announcement, but then fell back to $0.51. Classic. It’s still down 88% from its March 2024 high of $4.45. But hey, at least it’s not flatlining! 💔

RON Price Chart

So, will this $4 million buyback save the day? Or is Ronin just rearranging deck chairs on the Titanic? Only time will tell. But one thing’s for sure: this is one crypto drama you won’t want to miss! 🍿🚀

Read More

2025-09-22 07:04