Binance Ends RedStone Pre-Market Trading, Spot Trading to Launch Soon
Key Highlights:
- Binance announces the conclusion of RedStone (RED) pre-market trading.
- Spot trading for RED will begin shortly, enhancing liquidity and investor participation.
- MEXC also plans to list RED, further boosting market interest.
Global cryptocurrency exchange Binance has made a significant announcement regarding RedStone (RED), drawing widespread market attention. The platform confirmed that it will terminate pre-market trading for RED and introduce spot trading soon. Additionally, another major exchange, MEXC, has announced plans to list the token, leading to increased optimism about RED’s potential price surge.
Details of Binance’s Announcement on RedStone (RED)
According to Binance’s official statement dated March 5, pre-market trading for RED will conclude on March 6 at 09:00 UTC. Spot trading will then commence the same day at 13:00 UTC, enabling standard buy-and-sell transactions that could significantly enhance liquidity and investor engagement.
Available Spot Trading Pairs on Binance:
- RED/BTC
- RED/USDT
- RED/USDC
- RED/FDUSD
- RED/TRY
Key Information for Users:
- Deposits for RED are now open, allowing traders to prepare for spot trading.
- Withdrawals will be enabled starting March 7 at 13:00 UTC.
- Binance has set the listing fee at 0 BNB, reinforcing its support for the project.
- A “seed tag” will be applied to RED, indicating high trading risk due to market volatility.
- Pre-market orders will be automatically removed once pre-market trading ends.
- “Spot Algo” orders will be activated for the listed trading pairs at 13:00 UTC on March 6.
- Trading bots and spot copy trading will be enabled within 24 hours of RED’s spot listing.
MEXC Joins the RedStone Expansion
Simultaneously, crypto exchange MEXC has confirmed that RED will be added to its Innovation Zone & Convert Zone. Deposits are now open, while trading is expected to commence between 12:45 and 13:00 UTC on March 6, once liquidity requirements are met.
Will RED Price Hit New Highs?
Despite growing market support, RED’s price recently dipped by 6.5% to $0.7988, raising speculation about short-term volatility. CoinMarketCap data shows that RED’s circulating supply during Binance’s pre-market phase was 40 million tokens, but this will rise to 280 million after the spot listing. The increase in supply may introduce price fluctuations in the short term.
However, with sustained demand and expanded trading support on major centralized exchanges (CEXs), RED could reach new all-time highs. Market participants remain watchful for further developments that could influence RED’s price trajectory.
Meanwhile, Binance recently halted support for all non-MiCA-compliant stablecoin trading pairs, impacting users in the European Economic Area (EEA). Traders continue to monitor such regulatory shifts for potential investment opportunities.
