Binance has added RedStone (RED) to its Launchpool, making it the 64th project! This means you can now get in on a multi-chain oracle solution.
What is RedStone (RED)?
RedStone is designed to provide reliable data feeds across different blockchains, making decentralized finance (DeFi) apps more efficient. Think of it as a super-reliable source of information for these apps.
Getting Started with RED
The fun started February 26th, 2025, when Binance Launchpool opened up RED token farming. You could stake BNB, FDUSD, and USDC to earn RED rewards.
Pre-Market Trading Frenzy
Even better, Binance launched pre-market trading for RED on February 28th, 2025, letting you buy and sell RED/USDT before the official launch.
Price Cap and Limits
To keep things stable during this early trading period, Binance put a price cap in place for the first 72 hours:
- Feb 28th, 10:00 – Mar 1st, 09:59 UTC: Max price increase of 200% from the opening price.
- Mar 1st, 10:00 – Mar 2nd, 09:59 UTC: Max price increase of 300% from the opening price.
- Mar 2nd, 10:00 – Mar 3rd, 09:59 UTC: Max price increase of 400% from the opening price.
- After Mar 3rd, 10:00 UTC: No restrictions.
There was also a maximum holding limit of 5,000 RED per user during pre-market trading. Remember, trading on Binance, even pre-market, can be pricey due to volatility. Use a referral code to save up to 20% on fees!
Why Trade RED on Binance?
Binance is a top choice for trading new tokens because of its security, high liquidity, and low fees. It’s a great place for both beginners and experienced traders.
Key Benefits:
- Early Access: Get in on RED before everyone else!
- High Liquidity: Binance handles massive trading volumes, ensuring smooth trades.
- Low Fees: Competitive fees starting at 0.1% for spot trading.
- Strong Security: Binance uses top-notch security measures to protect your funds.
- Lots of Options: Trade using spot, margin, or futures trading.
