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TürkçeRonin Bridged WETH (Ronin) VS Magic Eden
VS
Ronin Bridged WETH (Ronin)
Ronin Bridged WETH is an integral asset within the Ronin Network, providing users with a seamless experience for trading and interacting with decentralized applications. By bridging Ethereum-based assets to this gaming-focused blockchain, it enhances liquidity and accessibility for players and developers alike. As the popularity of blockchain gaming continues to rise, Ronin Bridged WETH positions itself as a key player in ensuring efficient transactions within this expanding ecosystem.
more informationMagic Eden
Magic Eden is rapidly gaining recognition as a leading marketplace for non-fungible tokens, offering users an intuitive and seamless experience for buying and selling digital assets. Its focus on community engagement and innovative features attracts artists and collectors alike, fostering a vibrant ecosystem. As the popularity of NFTs continues to grow, Magic Eden's platform is poised to play a crucial role in shaping the future of digital art and collectibles.
more information
Ronin Bridged WETH (Ronin)
Magic Eden
General Information |
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Title
Ronin Bridged WETH (Ronin)
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Title
Magic Eden
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Symbol
weth
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Symbol
me
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Whitepaper
-
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Whitepaper
-
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Website
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Website
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Community
-
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Community
-
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Last Updated
2024-11-11 23:51
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Last Updated
2025-02-01 23:51
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Price Data |
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Current Price $
3362.74
$
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Current Price $
1.72
$
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High 24h
3389.1
$
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High 24h
1.98
$
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Low 24h
3110.62
$
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Low 24h
1.71
$
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Price Change 24h
170.93
$
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Price Change 24h
-0.20934516050349
$
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Price Change % 24h
5.35532
%
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Price Change % 24h
-10.84028
%
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Market Data |
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Market Cap
104137637
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Market Cap
222186234
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Total Volume
4313753
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Total Volume
27051618
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Market Cap Change 24h
5403804
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Market Cap Change 24h
-27905197.125449
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Market Cap Change % 24h
5.4731
%
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Market Cap Change % 24h
-11.158
%
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Return on Investment (ROI)
-
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Return on Investment (ROI)
-
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Supply and Availability |
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Circulating Supply
30962.508530667
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Circulating Supply
129094183.86427
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Total Supply
360699.58655831
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Total Supply
1000000000
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Max Supply
-
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Max Supply
1000000000
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Historical Data |
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All Time High (ATH)
3389.1
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All Time High (ATH)
17
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ATH Change %
-0.83858
%
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ATH Change %
-89.87446
%
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ATH Date
2024-11-11 23:25
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ATH Date
2024-12-10 14:00
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All Time Low (ATL)
2169.58
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All Time Low (ATL)
1.71
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ATL Change %
54.89984
%
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ATL Change %
0.4159
%
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ATL Date
2024-09-06 20:55
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ATL Date
2025-02-01 23:31
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Ronin Bridged WETH (Ronin)
Introduction to Ronin Bridged WETH (Ronin)
Ronin Bridged WETH (wrapped Ether) is an important and integral part of the Ronin Network, a blockchain designed specifically to serve the needs of gaming and decentralized applications (dApps). As an Ethereum-compatible token, Ronin's wETH allows users to interact with various decentralized finance (DeFi) protocols while benefiting from the scalability and lower transaction fees associated with the Ronin infrastructure. In this article, we will explore the potential advantages and disadvantages of Ronin wETH, its historical performance, and future outlook.
Understanding the Advantages of Ronin Bridged WETH
One of the primary advantages of Ronin Bridged WETH is its ability to facilitate seamless transactions within the gaming ecosystem, particularly in games developed by Sky Mavis, such as Axie Infinity. The use of wETH on the Ronin Network allows players to transact with lower fees compared to the Ethereum mainnet. This feature has significantly enhanced user experience, making it an attractive choice for gamers and DeFi users alike.
Another key benefit is the liquidity provided by Ronin wETH. With a market cap of approximately $89 million and a circulating supply of around 30,796 wETH, there is a significant volume of trade, making it easier for users to buy and sell without impacting the market drastically. Additionally, wrapping Ether allows users to access a broader range of DeFi services while maintaining a stable exposure to ETH's price movements.
Identifying the Disadvantages
While Ronin Bridged WETH presents several advantages, it also has some notable drawbacks. Since wETH is a wrapped token, it carries the risk of smart contract vulnerabilities. As with any DeFi platform, there is a potential for exploits that could lead to loss of funds, particularly given the rapid developments in the decentralized space.
Moreover, the Ronin Network, while designed for scalability, can still face congestion and performance issues, especially in periods of high traffic or during significant market events. Such issues could affect user experience and transaction times. Additionally, as the Ronin Network operates independently of Ethereum, users may encounter challenges related to asset transfers between the two networks
Historical Performance Overview
Ronin Bridged WETH has seen notable price movements since its inception, indicative of its adoption within the Ronin ecosystem. With a recent all-time high of $2,915.71 recorded on November 7, 2024, the token has shown substantial growth, reflecting both increased user interest and market conditions favoring Ethereum-based assets. Conversely, the all-time low of $2,169.58 on September 6, 2024, highlights the inherent volatility associated with cryptocurrency investments.
In the past 24 hours, Ronin wETH demonstrated a price change of 6.46%, signaling healthy trading activity and a relatively strong market sentiment among users. Such fluctuations are standard, but they also indicate the importance of being cautious and informed while trading wETH.
Future Prospects for Ronin Bridged WETH
The future prospects for Ronin Bridged WETH appear promising, particularly with the ongoing development of the Ronin Network. As more games and dApps are built on the platform, the utility of wETH is likely to expand, leading to increased demand. This demand will be further supported by the enhanced transaction efficiencies that the Ronin Network offers.
Additionally, as DeFi continues to evolve, wrapping assets like Ether will grow in popularity, creating new opportunities for users. If Sky Mavis continues to successfully innovate and expand its ecosystem, Ronin wETH is likely to benefit from this growth, solidifying its position in the broader cryptocurrency market.
Conclusion
In summary, Ronin Bridged WETH plays a vital role in enabling efficient transactions in the Ronin ecosystem while offering potential advantages in liquidity and lower fees. However, users must remain aware of the risks associated with wrapped tokens and be vigilant about market conditions. With the ever-evolving landscape of cryptocurrencies and blockchain gaming, keeping an eye on Ronin wETH will be essential for traders and investors looking to capitalize on future developments.
Magic Eden
Introduction to Magic Eden (ME): A Comprehensive Analysis
Magic Eden has emerged as a notable player in the cryptocurrency landscape, primarily as a decentralized NFT marketplace. As the market continues to evolve, the ME token’s potential and utility become increasingly relevant for investors and enthusiasts alike. This article delves into the historical performance of Magic Eden, its advantages and disadvantages, and what the future may hold for this promising cryptocurrency.
Historical Performance of Magic Eden
Magic Eden was launched with high expectations and quickly gained traction, especially in the non-fungible token (NFT) space. The cryptocurrency reached an all-time high (ATH) of $17 shortly after its release, showcasing significant investor interest and market enthusiasm. However, like many cryptocurrencies, it experienced volatility, with its current price hovering around $5.32, which represents a notable decline of approximately 68.6% from its ATH.
As of December 2023, Magic Eden’s market capitalization stands at approximately $699 million, with a circulating supply of about 130 million ME tokens out of a total supply of 1 billion. This allocation provides room for potential growth, depending on market adoption and usage.
Advantages of Magic Eden
One of the most significant advantages of Magic Eden is its user-friendly interface, which facilitates a seamless experience for both buyers and sellers in the NFT marketplace. Users can easily navigate through various collections and discover emerging artists, making it an attractive platform for creators and collectors alike.
Furthermore, the strong community surrounding Magic Eden supports its growth and innovation. The developers have prioritized feedback from users, continuously improving the platform’s features and responsiveness. Additionally, its cross-chain capabilities allow it to cater to a broader audience by enabling transactions across different blockchain networks.
Challenges and Disadvantages
While Magic Eden has various strengths, it is not without its challenges. The competitive landscape of NFT marketplaces presents a significant hurdle, as numerous platforms vie for user attention, including the likes of OpenSea and Rarible. This competition can lead to market fragmentation and make it challenging for any single platform, including Magic Eden, to maintain consistent user retention.
Moreover, the overall volatility of the cryptocurrency market poses risks for the ME token. Investors and users must remain aware of the potential for price fluctuations that can affect their investments and transactions. The recent 24-hour price change of -4.75% further highlights this inherent volatility.
Future Outlook for Magic Eden
The future prospects of Magic Eden hinge on its ability to adapt and innovate within the rapidly changing blockchain and NFT sectors. Continued enhancement of its platform features and expansion into new markets could drive further growth. With the increasing adoption of NFTs across various industries, including art, gaming, and real estate, there is potential for Magic Eden to capitalize on these trends.
Furthermore, as the overall cryptocurrency market matures, institutional interest in NFTs may increase, providing a significant boost to platforms like Magic Eden. Maintaining competitive advantages while fostering community engagement will be crucial for its sustained success in the coming years.
Conclusion
In summary, Magic Eden offers a unique proposition in the NFT marketplace with its user-friendly platform and strong community support. Although it faces challenges from competition and market volatility, its historical performance and future potential make it a cryptocurrency worth monitoring. Investors should carefully evaluate the advantages and disadvantages while considering their strategies in the ever-evolving landscape of digital assets.