Hello everyone, I am your old friend, a friend who talks to you about the crypto market in Binance Plaza all year round. Binance Launchpool recently launched the 64th phase project - RedStone (RED). As a multi-chain oracle project, it sparked a lot of discussion before it was launched. Today we will have an in-depth analysis of RED to see how its potential and how the price may go after it is launched.
RedStone (RED) is a multi-chain oracle platform focusing on decentralized finance (DeFi). The goal is to provide efficient and flexible data services for EVM (such as Ethereum, Polygon) and non-EVM (such as Movement, Sonic) chains. Simply put, oracles are the bridge between blockchain and real-world data, and RED's advantages lie in its "modular architecture" and "pull on demand" mode. This design not only reduces Gas costs, but also customizes data push according to the needs of the DeFi protocol, with excellent efficiency and cost control.
RED currently supports more than 60 blockchain networks, with a wide coverage and also has technical highlights, such as reducing on-chain redundant operations through the "pull-type" data mechanism. The team's background has not been fully disclosed, but judging from the progress of the project, they have accumulated a certain reputation in the oracle track, and there are even rumors that it has received support from the Coinbase Department (although not officially confirmed). Binance's choice to launch RED in February 2025 is obviously optimistic about the long-term value of oracles in the DeFi ecosystem, especially in the context of growing demand for cross-chain and Layer 2.
This time, Launchpool starts at 08:00 (East Eighth District time) on February 26. Users can participate in mining by pledging BNB, FDUSD and USDC, releasing a total of 40 million REDs, accounting for 4% of the total supply (1 billion). The activity cycle is only 2 days, which belongs to the typical "short, flat and fast" mode. As of now (assuming today is early February 27), the staking pool data has not been fully disclosed, but judging from Binance's past projects, the BNB pool is expected to be the main force, accounting for more than 50%, while the USDC and FDUSD pools will attract more stablecoin players.
It is worth mentioning that Binance also introduced the "Upward Circuit Breaker" this time, limiting excessive price increases 72 hours before RED's Pre-Market transaction. This shows that the platform hopes to control early speculation and avoid "collapse at the opening" like some projects. The market's initial response to RED is positive, especially on X. Many users mentioned that the interaction activities they have participated in before may bring additional returns, and sentiment is biased towards bullish.
Now we enter the part that everyone cares most - how will the price change after RED go online? I will analyze it from the short-term and medium-term dimensions, and combine historical laws and market environment to make predictions.
Short-term trend (1-2 weeks after listing)
The short-term performance of the Launchpool project is usually affected by mining allocation, selling pressure and market sentiment. Taking the recent Vana (VANA) and BIO Protocol (BIO) as examples, the opening price tends to be between $0.3-0.8, and then falls back due to selling pressure. The total supply of RED is 1 billion pieces, the initial circulation is 280 million pieces (28%), and with the 40 million pieces Launchpool reward, the circulation ratio is not low.
I expect the opening price of RED may fall in the range of $0.6-1. There are three reasons: one is the current narrative popularity of the oracle track (refer to Chainlink's long-term strength); the second is that Binance's endorsement and Pre-Market mechanism will attract FOMO funds; the third is the overall market confidence brought by BTC's recent breakthrough of US$100,000. If sentiment is high on the first day, the price may surge to $1.2-1.5, but then the selling pressure will appear, and $0.5-0.7 may be the short-term support level. It is recommended that short-term players pay attention to this range operation.
Medium-term trend (1-3 months)
Medium-term performance depends on the ecological progress of RED and market competition. If RedStone can quickly access more DeFi protocols (such as cross-chain versions of Aave and Uniswap) after it is launched and demonstrates the stability of data services, the price may stabilize in the range of 1-2 US dollars. Conversely, if progress is slow or suppressed by old oracles such as Chainlink and Python, the price may fall back below $0.4.
Historically, the average ROI of the Launchpool project is 1.5-2 times (calculated at the first-day closing price). Assuming that the RED opens at $0.8, the interim target price of $1.2-1.6 is possible. But this requires the market to remain strong and the project party to fulfill its technical commitments.
The above is the detailed content of Binance Launchpool No. 64 project analysis and price forecast: Can RedStone (RED) ignite the market?. For more information, please follow other related articles on the PHP Chinese website!
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