- RedStone’s price surged 55% as 24-hour trading volume jumped to $418 million
- The project’s token rallied after Upbit announced support for RED trading
- RED could climb toward $1 or find support around $0.50
RedStone (RED), a leading provider of decentralized financial oracle infrastructure, experienced a sharp price increase of up to 55% over the past 24 hours.
While the broader market rebound contributed to the move, RED’s large spike followed Upbit, South Korea’s largest crypto exchange, announcing it would list and support trading for RED.
The announcement on September 5 sparked excitement among traders and DeFi enthusiasts, driving RedStone’s price above $0.78.
RedStone price jumps 55% after Upbit lists RED
RedStone’s price climbed to $0.78 on Friday after the token was listed on Upbit.
Other exchanges have also seen newly listed tokens surge, reflecting strong demand for fresh listings.
According to CoinMarketCap, RedStone rose from a $0.47 low to $0.78, marking a notable 55% increase within 24 hours.
This movement came with $418 million in trading volume, a jump of more than 800% at the time of reporting.
The surge followed Upbit’s official announcement that it would support RED/KRW trading, with markets opening at 17:00 KST.
The RedStone team celebrated the listing on their X account, highlighting RED/KRW availability on Upbit.
The post also referenced upcoming activities in Seoul, including Korea Blockchain Week (KBW) and related events like the Hyperliquid hackathon and XRP Seoul, signaling the project’s active engagement with the crypto community.
The Upbit listing spurred stronger trader confidence in RED, as South Korea is known for robust trading activity that can amplify price moves.
RedStone price outlook
RedStone, which offers modular oracle infrastructure for DeFi protocols and secures over $10 billion in assets, aligns with Upbit’s focus on innovative projects—helping to fuel the token’s rally.
Recently, RedStone acquired Credora, a DeFi rating provider, a move intended to bolster the platform’s expansion efforts.
Commenting on the acquisition via X, RedStone noted that the addition of Credora brings TradFi-style risk assessment into DeFi, positioning RedStone to play a market role similar to long-established rating frameworks in traditional finance for understanding and pricing risk.
The 55% gain also reflects broader market strength, with other protocols such as Compound, Lido and Pendle posting gains as well.
Although the uptrend is evident—Bitcoin has shown higher lows—the historical pattern of September being a challenging month for crypto assets could introduce short-term volatility.
Analysts suggest that maintaining current momentum will depend on RedStone’s ability to leverage Upbit’s platform and deliver on promised activity and integrations.
For now, RED needs to hold above $0.60 to sustain the bullish momentum.
Alternatively, the token price could correct to around $0.50 or lower if selling pressure intensifies.