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Ronin Treasury Buys Back 3.8 Million RON Tokens Worth $1.47 Million

Ronin has repurchased 3.8 million RON tokens as part of a strategy to convert its ETH and USDC holdings into RON, representing about 1.3% of the circulating supply.

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Summary

Ronin has repurchased more than 3.8 million RON tokens, valued at approximately $1.47 million, following a buyback plan initiated on September 29. The treasury, holding over $4.5 million in assets, plans to convert all ETH and USDC into RON, representing around 1.3% of RON’s circulating supply.

Terms & Concepts
  • Token Buyback: A process where a project repurchases its own tokens from the open market, often to support the token's value or reduce supply.
  • RON: The native cryptocurrency of the Ronin blockchain, used for transactions and governance within the ecosystem.
  • Circulating Supply: The total number of a cryptocurrency's coins or tokens that are publicly available and circulating in the market.