
Route 2 FI|Mar 05, 2025 18:44
Binance RED pre-market price cap limit has been lifted. This means that the price of @redstone_defi token is no longer constrained in any way there.
In my last post about RedStone, I laid out my bullish thesis on this project, and in this one, we'll discuss the potential of RED.
It's worth noting that RED is the first pre-market on Binance since the listing of USUAL. In my opinion, this is an important indicator of what might happen with RED.
Especially given the recent traction, strong fundamentals and the importance of oracles. No matter if it’s bull or bear market, crypto needs oracles.
Looking back, the USUAL pre-market turned out to be an excellent trade, with the price bottoming at 0.20. After spot listing on 18th Dec 2024, the price surged to over 1.60.
Currently, Binance RED pre-market might be undervalued since buyers are limited to purchasing only 5k units of RED, preventing larger accumulations.
On other pre-markets, RED was stable in the 1.1 - 1.4 range and was available on multiple major pre-market exchanges such as Bybit, Aevo, KuCoin.
Additionally, RED-PERP was added as a pre-launch market to Coinbase Advanced yesterday, and it’s been the most liquid pre-launch on that platform thus far.
The performance at the launch of USUAL could serve as a good analogy for what might happen to RED after the spot listings go live.
Although the market conditions are not the strongest now, it’s crucial to identify exceptions to the trend and analyze how certain tokens have behaved post-launch, especially those with strong fundamentals.
PS! RED launches on Binance, Bybit ++ 13:00 UTC tomorrow.
I am an advisor for RedStone.
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