- RedStone’s price jumped 55% as 24-hour trading volume rose 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 near $0.50.
RedStone (RED), a prominent provider of decentralized oracle infrastructure for finance, recorded a notable 55% price increase over the past 24 hours.
While the rally partially reflects a broader market rebound, RED’s gains accelerated following Upbit’s announcement that it would list RED for trading.
The announcement, made on September 5, sparked enthusiasm among traders and DeFi participants, pushing RedStone’s price 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, such as Bithumb, have also recently seen newly listed tokens experience sharp rallies.
According to CoinMarketCap, RedStone rose from lows near $0.47 to $0.78, representing an impressive 55% increase within 24 hours.
This move was accompanied by a 24-hour trading volume of $418 million, an increase of more than 800% at the time of reporting.
RedStone chart by CoinMarketCap
The surge followed Upbit’s official announcement that it would open RED/KRW trading at 17:00 KST, which generated strong interest among South Korean traders.
RedStone’s team celebrated the listing on its X account, highlighting the availability of RED/KRW on Upbit.
The post also referenced upcoming events in Seoul, including Korea Blockchain Week (KBW) and related side events such as the Hyperliquid hackathon and XRP Seoul, signaling the project’s active engagement with the crypto community.
The listing boosted trader confidence in RED, with South Korea known as a market featuring robust trading activity.
Price outlook for RedStone
RedStone provides modular oracle infrastructure for DeFi protocols and helps secure more than $10 billion in assets. That profile aligns with Upbit’s emphasis on innovative projects and has helped fuel the recent price surge.
Recently, RedStone acquired DeFi ratings provider Credora, a move expected to support the platform’s expansion efforts.
Commenting on the acquisition via X, RedStone said that the deal brings “TradFi-grade risk assessment to DeFi,” positioning RedStone to offer risk frameworks on decentralized markets similar to what S&P or Moody’s have provided in traditional finance—tools for understanding and pricing risk.
The 55% rally also reflects broader market dynamics, with protocols such as Compound, Lido and Pendle showing gains during the same period.
Although the bullish trend is clear, and Bitcoin is showing higher lows, September’s historical reputation as a volatile month for assets like BTC could introduce short-term swings.
Analysts note that maintaining the current momentum will depend on RedStone’s ability to capitalize on Upbit’s exposure and to deliver on promised events and initiatives.
For now, RED must hold above $0.60 to preserve upward momentum.
On the downside, the token could retreat toward $0.50 or lower if selling pressure increases.