Ronin (RON)
Axie Infinity sidechain. Gaming-focused EVM chain with Katana DEX.
Ranked 118th of 251 rated tokens. Scoring pass 11 Jun 2026.
What the numbers say
RON scores 104 of 250 across the 25-variable framework, which places it 118th of 251 rated tokens and inside the upper half of the set. The framework verdict is WATCH.
The score rests on Active Users 5/10, 38th of 251, Insider Selling 5/10, 42nd of 251, BTC Alpha Potential 4/10, 45th of 251 and Holder Concentration 4/10, 58th of 251.
Only 77.2% of RON's maximum supply is in circulation, so 1.29x the current float is still scheduled to arrive. Holding price per token flat while the rest enters circulation implies 22.8% of the fully diluted value sitting ahead of today's holders. That is a real but manageable overhang.
RON trades 98.9% below its all-time high of $4.45. Recovering that level is a 90.9x move, not a 98.9% one, which is the arithmetic most drawdown charts hide.
The framework score gained 104 points against the previous pass (0 to 104). Revisions of this size follow a change in the underlying variables, not a change in price.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 3 | 98th of 251 | |
| Revenue Trend | 3 | 117th of 251 | |
| P/S Multiple | 4 | 104th of 251 | |
| Real Staking Yield | 4 | 82nd of 251 |
Supply
| Supply Inflation | 5 | 61st of 251 | |
| Vesting Schedule | 5 | 100th of 251 | |
| Circulating / FDV Ratio | 5 | 135th of 251 | |
| Buyback and Burn | 2 | 114th of 251 |
Ownership
| Smart Money Flows | 4 | 93rd of 251 | |
| Insider Selling | 5 | 42nd of 251 | |
| Holder Concentration | 4 | 58th of 251 |
Traction
| TVL Trend | 3 | 111th of 251 | |
| Active Users | 5 | 38th of 251 | |
| Developer Activity | 5 | 83rd of 251 | |
| Network Growth | 4 | 100th of 251 |
Position
| Market Share | 4 | 87th of 251 | |
| Competitive Moat | 4 | 114th of 251 | |
| Institutional Adoption | 4 | 71st of 251 | |
| Exchange Depth | 5 | 73rd of 251 | |
| Social Mindshare | 4 | 86th of 251 |
Risk
| Regulatory Safety | 5 | 102nd of 251 | |
| Catalyst Calendar | 3 | 158th of 251 | |
| BTC Alpha Potential | 4 | 45th of 251 | |
| Team Execution | 5 | 74th of 251 | |
| Treasury Runway | 5 | 74th of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
Axie Infinity and Sky Mavis game network growth; Ronin's fast, low-cost chain attracts Web3 gaming projects.
Principal risk
Centralized validator set and past bridge hack ($625M); gaming token demand tied to Axie's user retention.
Market and supply
| Price | $0.0512 |
| Market cap | $39.5Mrank 509 |
| All-time high | $4.4526 Mar 2024 |
| Circulating supply | 772,401,679 |
| Eventual supply (max supply) | 1,000,000,000 |
| Dilution to full supply | 1.29x |
| Listed on | Binance, Bybit, KuCoin |
Price, market cap, supply and all-time high from CoinGecko, fetched 6 Aug 2026. The 25 scores come from the research pass dated 11 Jun 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to RON measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
Common questions
- What is the Early Thunder score for Ronin (RON)?
- RON scores 104 out of 250 on the 25-variable framework, ranking 118th of 251 rated tokens (upper half). The framework verdict is WATCH.
- What are RON's strongest fundamentals?
- RON ranks highest on Active Users 5/10, 38th of 251, Insider Selling 5/10, 42nd of 251, BTC Alpha Potential 4/10, 45th of 251 and Holder Concentration 4/10, 58th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- How much RON supply is still to enter circulation?
- 77.2% of eventual RON supply is circulating today, leaving 1.29x the current float still to arrive. At a flat price per token that is 22.8% of fully diluted value ahead of current holders.
- How far is RON from its all-time high?
- RON trades 98.9% below its all-time high of $4.45. Returning to that high requires a 90.9x move from the level used in this scoring pass.
- Which tokens have a similar profile to RON?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to RON are AUDIO (101), FLUX (96), POND (91) and IOTX (98). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for RON?
- Axie Infinity and Sky Mavis game network growth; Ronin's fast, low-cost chain attracts Web3 gaming projects.
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.