RedStone launches Ethena stablecoin feeds on BNB Chain, pushing RED price up 14%

Redstone has expanded its support for the stablecoins of Ethena Labs Usde and Susde to the BNB chain, triggering a price wave of 14%.

Redstone (RED) Officially announced the launch of USDE and Susde price flows – Sandcoins of Ethena laboratories – on the BNB channel, expanding access to the $ 5 billion ecosystem + Stablecoin d’Ethena.

The launch marks a new stage in Redstone’s partnership with Ethena Labs, which started in March 2024. Redstone was the first supplier of Oracle to support the USDE and Susde. Venus’ protocol and pendle financing were the first to integrate these price flows, allowing users to borrow and lend against these assets, and exchange or lock future yields with precise and real -time prices.

The integration of TO USE And Susde Price feeds on the BNB chain considerably increases their accessibility thanks to the rapid and low cost transactions of the BNB chain and a growing developer base. In addition, the demand for precise price flow of Ethena stable On the BNB channel increases quickly. In just one week since its launch, the USDE on the BNB channel has already exceeded a market capitalization of $ 8.5 million.

Red price is up 14% on news, currently negotiating at $ 0.44 with a negotiation volume of more than $ 28 million, up 152% in the last 24 hours. However, the overall trend has been down since mid-March, following a strong increased thrust that had brought the price to $ 0.95. Since the start of the drop, several levels of horizontal support have been broken, including areas of $ 0.70, $ 0.60 and $ 0.50.

More recently, the level of local support at $ 0.40 made it possible to intensify on April 25 to 26, as evidenced by peaks in the red volume bars. The price then dived at its lower $ 0.32, recorded only three days ago. Then the buyers intervened, pushing the price above $ 0.40, and now up to $ 0.44.

The recent price action on the 4 -hour graph shows signs of construction of the bullish momentum, with a series of green candles forming in a coherent manner since yesterday. The price has also managed to bounce over the exponential mobile average of 20 periods – a potential early sign of a change of trend.