Ronin (RON) saw its value plummet by 26% right after its listing on the Binance exchange, erasing a 15% gain and marking a nearly 30% drop in the last 24 hours.
Following a short-lived recovery that pushed Ronin above the $3 mark for the first time since February 2022, the digital asset encountered strong resistance and fell below a critical support level.
Despite reaching a two-year peak of $3.538 due to growing investor interest and increased activity on the Ronin network, the asset has now retreated to $2.62 — losing all its recent gains.
The sharp decline has also affected Ronin’s market standing, with its market capitalization dropping below the $1 billion milestone to currently stand at $746.26 million. However, Ronin is still trading at a 23-month high, with the $2.5 support level preventing further losses.
Santiment data revealed a surge in social volume and negative sentiment surrounding Ronin, indicating a stark change in investor sentiment.
Over the past 24 hours, socia

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