- RedStone’s price climbed 55% as 24-hour trading volume jumped to $418 million.
- The token rallied after Upbit announced support for RED trading pairs.
- RED could continue toward $1 or find support near $0.50.
RedStone (RED), a decentralized finance oracle infrastructure provider, saw a sharp price increase of 55% over the past 24 hours. While the move coincided with a broader market rebound, the primary catalyst was Upbit, South Korea’s largest cryptocurrency exchange, announcing support for RED trading.
The exchange’s listing announcement on Sept. 5 sparked strong interest from traders and DeFi participants, driving RedStone’s price above $0.78.
RedStone price jumps 55% after Upbit listing
Following the Upbit listing, RedStone’s price shot up to around $0.78. Other exchanges have produced similar reactions for newly listed tokens, and RedStone’s move was no exception.
Data from CoinMarketCap shows RED rising from lows near $0.47 to approximately $0.78, representing a roughly 55% increase within 24 hours. Trading volume surged to about $418 million, an increase of over 800% at the time of reporting.
Upbit’s official announcement confirmed support for the RED/KRW trading pair, with the market opening at 17:00 KST. RedStone’s team celebrated the listing on their X account, noting the availability of RED/KRW on Upbit and promoting upcoming on‑the‑ground events in Seoul.
Those events include participation in Korea Blockchain Week and related side events such as the Hyperliquid hackathon and XRP Seoul, underscoring RedStone’s active engagement in the crypto community. The Upbit listing and local community activity helped boost trader confidence, particularly given South Korea’s historically high trading activity.
RedStone outlook
RedStone provides modular oracle infrastructure used by DeFi protocols and currently secures over $10 billion in assets. The project’s focus on infrastructure and data services aligns with Upbit’s tendency to list innovative tokens, contributing to the recent price surge.
The project also recently acquired Credora, a DeFi ratings provider, a move intended to accelerate RedStone’s platform development and risk‑assessment capabilities. RedStone stated that the acquisition brings “TradFi‑grade risk assessment to DeFi,” positioning the protocol to offer a trusted framework for risk and pricing similar to established ratings firms in traditional finance.
The 55% spike in RED’s price also reflects broader market dynamics, where other protocols such as Compound, Lido, and Pendle posted gains. That said, September has historically been a more volatile month for crypto assets, and short‑term fluctuations remain possible despite the current bullish momentum and Bitcoin’s pattern of higher lows.
Market analysts note that maintaining upward momentum will depend on RedStone’s ability to capitalize on Upbit’s listing, deliver on event roadmaps, and continue expanding its product and partnership ecosystem. In technical terms, RED will likely need to hold above the $0.60 level to preserve the immediate upside; failure to do so could open the door to a pullback toward $0.50 or lower.
For now, the Upbit listing and increased trading activity have placed RedStone firmly in the spotlight, with the next phase of price action likely tied to on‑chain developments, adoption metrics, and broader market sentiment.