Well, well, well! Look who’s back on the rise! The RedStone token decided to play nice on this fine Saturday, climbing up from its sad little bottom of $0.4195 earlier this month. Talk about a glow-up! ✨
And guess what? It hit a high of $0.7545! That’s right, folks, the highest it’s been since March 7. It’s like watching your friend finally get their act together after a series of questionable life choices. With a market cap of over $204 million, it’s practically throwing money around like confetti! 🎉
So, what’s the magic trick behind this rise? Drumroll, please… the developers launched the DRILL program! 🎊 This little gem will sprinkle about 4.5% of the total supply to core users and reward those early adopters. Because who doesn’t love a good reward? It’s like getting a gold star in crypto school! 🌟
Now, let’s break down the allocation, shall we? 15% of these tokens are going to developers—because they need to eat too! 🍕 Meanwhile, 60% is all about securing the network. You know, just in case the price feed decides to take a little vacation. 🏖️
Oh, and 20% of the DRILL allocation is for developers using shiny new products like Oracle Extractable Value or AI tools. Because why not throw in some fancy tech jargon? 5% is for new DeFi apps, and the rest? Well, it’s going to those lovely folks creating educational tools. Because knowledge is power, right? 📚
But wait, there’s more! The RED price also got a little boost from a partnership with EIGEN. Now, RED stakers can convert their tokens into mRED. It’s like a crypto makeover! 💄 They can secure the RedStone AVS on EigenLayer while still keeping their liquidity. Talk about multitasking!
In just a few months, RedStone has climbed the oracle ladder faster than I can climb out of bed on a Monday morning. According to DeFi Llama, it’s now the fourth-biggest player in the oracle industry, right behind Chainlink, Pyth, and Chronicle. With a total value secured of $4.9 billion, it’s like the cool kid at school that everyone wants to be friends with! 😎
RedStone Price Analysis
Now, let’s take a peek at the hourly chart. The RED token bottomed at $0.4188 on March 11 and then bounced back like a rubber ball to a high of $0.7543. It even moved above the 50% Fibonacci Retracement level at $0.688. Fancy, right? 🎢
RED has crossed the all-important resistance level at $0.6817, which was its highest swing on March 12. It’s like the upper side of a cup and handle pattern—very trendy! ☕
And guess what? It’s also above the 50-day moving average. So, if you’re a bull, you might want to keep your eyes on the next key resistance point at $0.8432. That’s about 20% above the current level. Who’s ready to ride this wave? 🌊
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2025-03-15 17:08