Upbit, Korea’s crypto juggernaut, threw RedStone (RED) into the spotlight on Friday, sending it skyrocketing by over 80%. 🚀 Because nothing screams “let’s party” like a new listing on a major exchange. 🎉
Token listings on big exchanges are like caffeine for crypto prices-instant buzz. Conversely, delistings? Well, they’re the equivalent of a hangover. 🥴
RED Hits Upbit: The Nitty-Gritty
The exchange announced the listing on September 5, allowing RED to trade on the Korean won (KRW) market and Ethereum-based transactions. Because, you know, ETH is the Netflix of blockchain-everyone’s using it. 🍿
“Only deposits/withdrawals via the specified network (RED-Ethereum) will be supported. Always confirm the network before depositing,” Upbit said, sounding like a cautious parent. 🙄
Post-announcement, RED shot up by 83%, hitting $1.1900 on Binance. Not bad for a Friday, huh? 💰 Though, let’s be honest, trading could be delayed if liquidity decides to play hard to get. Upbit’s tentative listing time is 17:00 KST-so set your alarms, folks. ⏰
For the first 5 minutes, sell orders at prices 10% or lower than the previous day’s closing price will be restricted. Because nothing says “controlled chaos” like limiting panic sells. 😅
Only limit orders will be allowed for two hours post-trading launch. So, no fancy market orders, folks-this isn’t a day spa. 💆♂️
Meanwhile, RED’s price reaction is textbook crypto behavior: listing = 🚀, delisting = 📉. Exhibit A: BAKE, HIFI, and SLF fell off a cliff after Binance’s delisting announcement. RIP. 🪦
RedStone Buys Credora: DeFi Power Move 🤝
The Upbit listing followed RedStone’s acquisition of Credora, a credit rating platform backed by Coinbase Ventures. Because who doesn’t love a good acquisition drama? 🍿
RedStone acquires @CredoraNetwork, the leading DeFi ratings provider.
This changes the status quo for DeFi risk management.
For the first time ever: Real-time pricing + institutional-grade risk ratings under one roof
– RedStone (@redstone_defi) September 4, 2025
The deal strengthens RedStone’s DeFi position, combining real-time data feeds with Credora’s credit expertise. Because nothing screams “innovation” like combining two buzzwords. 🚀
Oracle tokens have been on fire lately, with investors eyeing data infrastructure as DeFi’s next big thing. 📈
However, concerns linger over RedStone’s network activity and total value locked (TVL). Despite the token’s strong performance, usage metrics are… underwhelming. 😐
So, will RedStone’s hype translate into long-term adoption? Stay tuned. 😏
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2025-09-05 12:26