- RedStone’s price rose 55% as 24-hour trading volume jumped to $418 million.
- The project’s token surged after Upbit announced trading support for RED.
- RED’s price could climb to $1 or find support around $0.50.
RedStone (RED), a leading provider of decentralized oracle infrastructure for financial applications, recorded a sharp 55% price increase over the past 24 hours.
While the rise mirrors broader market recovery, RED’s spike followed Upbit — South Korea’s largest cryptocurrency exchange — announcing trading support for the token.
The announcement, released on September 5, sparked excitement among traders and DeFi enthusiasts and pushed RedStone’s price above $0.78.
RedStone price jumps 55% after Upbit lists RED
RedStone’s price climbed to $0.78 on Friday following the Upbit listing.
Other exchanges, including Bithumb, have also seen rapid gains for newly listed tokens.
According to CoinMarketCap, RedStone rose from a low of $0.47 to $0.78 — a notable 55% increase in 24 hours.
This move was accompanied by a trading volume of $418 million, which at the time of writing represented an increase of more than 800%.
Chart for RedStone per CoinMarketCap
The surge followed Upbit’s official announcement confirming RED/KRW trading support, with the market opening at 17:00 KST.
RedStone’s team celebrated the listing on their X account, highlighting RED/KRW availability on Upbit.
The post also previewed upcoming activity in Seoul, including Korea Blockchain Week (KBW) and related events such as the Hyperliquid hackathon and XRP Seoul, signaling the project’s active engagement with the crypto community.
The Upbit listing helped boost trader confidence in RED; South Korea is known for strong trading activity and liquidity.
RedStone price outlook
RedStone provides modular oracle infrastructure to DeFi protocols and secures assets worth over $10 billion. The listing aligns with Upbit’s focus on innovative projects, further contributing to the price surge.
Recently, RedStone acquired DeFi ratings provider Credora, strengthening its platform expansion efforts.
Commenting on the acquisition via X, RedStone said:
“This brings TradFi-class risk assessment to DeFi. It positions RedStone to play a role on decentralized markets similar to the one S&P or Moody’s have long played in traditional finance — trusted frameworks to understand and price risk.”
The 55% gain also reflects broader market momentum, with other protocols such as Compound, Lido and Pendle showing upward moves.
Although the trend is bullish and Bitcoin is forming higher lows, September has historically been a volatile month for assets like BTC, which could cause short-term swings.
Analysts note that sustaining the current pace will depend on RedStone’s ability to capitalize on the Upbit listing and deliver on its event-driven roadmap.
For now, RED needs to hold above $0.60 to maintain upward momentum.
Conversely, failure to sustain support could see the token retrace to $0.50 or lower.