• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Why RedStone Token Price is Rapidly Increasing

user avatar

by Giorgi Kostiuk

7 hours ago


The RedStone token (RED) continues to show significant growth, increasing its market cap to over $204 million. This article examines the reasons behind this surge.

Success of the DRILL Program

The sharp increase in RED's price is attributed to the launch of the DRILL program, which distributes 4.5% of the total token supply to core users and early adopters. The program focuses on network development, security, and innovation. 15% of the tokens are allocated to developers, 60% to network security via staking vaults, 20% to new products like Oracle Extractable Value or AI tools, and 5% to new DeFi apps.

RedStone and EIGEN Partnership

The RED price also rose thanks to a partnership with EIGEN, allowing stakers to convert RED tokens into mRED, maintaining liquidity while securing RedStone AVS on the EigenLayer.

RedStone in the Oracle Industry Context

RedStone has become the fourth-largest player in the Oracle industry, following companies like Chainlink and Pyth, with a total secured value of $4.9 billion. It secures networks like Spark and Euler.

RedStone token's sustained price growth is driven by strategic developer initiatives and strengthened position in the Oracle industry.

0

Share

Other news

U.S. Regulators Under Pressure as Coinbase Demands Clarity

Coinbase seeks transparency from U.S. regulators, filing Freedom of Information Act requests for clarity on regulatory actions.

user avatarGiorgi Kostiuk

a few seconds ago

Arctic Pablo Coin: A Second Chance for Crypto Investors

Arctic Pablo Coin offers new opportunities for investors after Brett's success with its unique presale structure.

user avatarGiorgi Kostiuk

a minute ago

Trump's Trade War: Impacts on Various Industries

How is Trump's trade war affecting the U.S. economy? Discover which industries are thriving and which are struggling due to the imposed tariffs.

user avatarGiorgi Kostiuk

2 minutes ago

Comparing Solana, Polkadot, and Qubetics in the Crypto World

Overview of Solana and Polkadot's roles and the emergence of Qubetics in blockchain.

user avatarGiorgi Kostiuk

2 minutes ago

JASMY Crypto Breaks Out of Triangle, Faces Key Resistance Ahead

JASMY crypto breaks from symmetrical triangle, with resistance at $0.01500-$0.01600 posing a significant hurdle.

user avatarGiorgi Kostiuk

3 minutes ago

Three Arrows Capital Files $1.53 Billion Lawsuit Against FTX

Three Arrows Capital increases its claim against FTX to $1.53 billion after asset liquidation in 2022.

user avatarGiorgi Kostiuk

4 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.