- RedStone price jumped 55% as 24-hour trading volume surged to $418 million.
- The project token soared sharply after Upbit announced support for RED trading.
- RED’s price could climb to $1 or find support around $0.50.
RedStone (RED), a leading provider of decentralized finance oracle infrastructure, recorded a notable 55% price increase over the past 24 hours.
While the broader market rebound contributed to gains, RED surged particularly after Upbit, South Korea’s largest cryptocurrency exchange, announced it would list RED for trading.
The announcement, made on September 5, sparked enthusiasm among traders and DeFi fans and pushed RedStone’s price above $0.78.
RedStone price leaps 55% after Upbit lists RED
Following the Upbit listing, RedStone’s price rose to $0.78 on Friday.
Other exchanges, such as Bithumb, have also seen sharp moves for newly listed tokens.
According to CoinMarketCap, RedStone moved from a low of $0.47 to $0.78, marking an impressive 55% increase within 24 hours.
This rally was accompanied by trading volume of $418 million, which at the time of writing represented more than an 800% jump.
chart for RedStone from CoinMarketCap
The rise followed Upbit’s official announcement supporting RED/KRW trading, with markets opening at 17:00 KST.
RedStone’s team celebrated the exchange listing on its X account, highlighting the availability of the RED/KRW pair on Upbit.
The post also promoted upcoming events in Seoul, including Korea Blockchain Week (KBW) and related activities such as the Hyperliquid hackathon and XRP Soul, signaling active project engagement with the crypto community.
This listing helped boost trader confidence in RED, with South Korea known for robust trading activity.
RedStone price outlook
RedStone provides modular oracle infrastructure for DeFi protocols and secures assets valued at over $10 billion, aligning with Upbit’s focus on innovative projects and supporting the price surge.
Recently, RedStone acquired DeFi ratings provider Credora, an addition intended to strengthen the platform’s expansion efforts.
Commenting on the acquisition via X, RedStone noted that Credora “brings TradFi-level risk ratings into DeFi. That positions RedStone to play a role on decentralized markets similar to what S&P or Moody’s have long provided in traditional finance—a trusted framework for understanding and pricing risk.”
The 55% jump also reflects broader market momentum, with gains seen across protocols such as Compound, Lido and Pendle.
Although the bullish trend is clear, Bitcoin’s performance—raising higher lows—and September’s historical reputation as a more challenging month for assets could trigger short-term volatility.
Analysts say sustaining the current momentum will depend on RedStone’s ability to leverage the Upbit listing and deliver on its roadmap and commitments.
For now, RED needs to remain above $0.60 to maintain upward momentum.
Conversely, the token could fall back toward $0.50 or lower if selling pressure intensifies.