- RedStone’s price rose 55% as 24-hour trading volume surged to $418 million.
- The project’s token rallied sharply after Upbit announced trading support for RED.
- RED could climb toward $1 or find support around $0.50.
RedStone (RED), a leading provider of decentralized oracle infrastructure, saw its price jump 55% over the past 24 hours.
While the rally reflects a broader market rebound, RED’s sharp upward move followed an announcement from Upbit, South Korea’s largest cryptocurrency exchange, that it would list and support RED trading.
The September 5 announcement generated strong interest among traders and DeFi enthusiasts, lifting RedStone above $0.78.
RedStone price jumps 55% after Upbit lists RED
RedStone’s price surged to $0.78 on Friday after the token was listed on Upbit.
Other exchanges, including major Korean platforms, have also seen newly listed tokens experience rapid price movements.
According to CoinMarketCap, RedStone climbed from a low of $0.47 to $0.78 — an about 55% increase within 24 hours.
The move came with a trading volume of $418 million, which at the time of reporting represented an increase of more than 800%.
The surge followed Upbit’s official announcement that it would open RED/KRW trading, with the market opening at 17:00 KST.
The RedStone team celebrated the listing on their X account, highlighting the availability of RED/KRW on Upbit.
The post also teased upcoming events in Seoul, including Korea Blockchain Week (KBW) and associated gatherings such as the Hyperliquid hackathon and XRP Soul, signaling active engagement from the project in the crypto community.
This listing boosted trader confidence in RED, especially given South Korea’s reputation for high trading activity.
RedStone price outlook
RedStone provides modular oracle infrastructure for DeFi protocols and secures assets worth over $10 billion, a profile that aligns with Upbit’s focus on innovative projects and likely contributed to the price spike.
Recently, RedStone acquired DeFi ratings provider Credora, a move intended to support the platform’s expansion efforts.
Commenting on the acquisition via X, RedStone noted that Credora brings TradFi-level risk assessment to DeFi and compared the function to what S&P or Moody’s provide in traditional finance — offering a trusted framework to understand and price risk.
The 55% gain also reflects broader market strength, with gains seen in protocols such as Compound, Lido and Pendle.
Although the trend is bullish and Bitcoin has shown higher lows, September has historically been a volatile month for assets like BTC, which could cause short-term swings.
Analysts say maintaining momentum will depend on RedStone’s ability to capitalize on the Upbit listing and deliver on its event-driven roadmap.
For the bullish case to hold, RED needs to stay above $0.60 to preserve upward momentum.
On the downside, the token could fall to around $0.50 or lower if selling pressure intensifies.