The Ronin Treasury plans to buy back $4 million worth of RON tokens to decrease circulating supply and potentially boost prices. The treasury currently holds $5.5 million, with 693 million RON tokens in circulation. The buyback represents 1.3% of the circulating supply, funded by fees from various services over the years.

Ronin Network recently announced its return as a layer-2 network on Ethereum after being spun off in 2021 for faster speeds and lower fees. The network aims to capitalize on Ethereum’s growth, following a hack in March 2022 that led to a decline in total value locked. RON prices spiked 11% post-announcement but have since fallen back to $0.51.

RON token prices reacted positively to the buyback news, spiking 11% to $0.54 before settling at $0.51. This marks an 88% drop from its all-time high in March 2024. Despite trading flat for the past six months, Ronin’s return to Ethereum signals potential growth and alignment with the Web3 gaming ecosystem.

Read more at Cointelegraph: Ronin Treasury Announced RON Buyback Program