Narrative of RedStone

RedStone stands out in the category of oracle network. 

 

Unlike some competitors, RedStone takes a decentralized approach to data distribution. This means anyone can participate in the network by running a node. This stands in stark contrast to Pyth's centralized Pythnet, which creates a single point of potential vulnerability. Additionally, RedStone's design avoids the need for Wormhole, a technology used by Pyth that can introduce extra fees and complexity. By being built on the Ethereum Virtual Machine (EVM), RedStone boasts inherent compatibility with various blockchains, offering greater flexibility for developers. This focus on openness empowers the community and fosters a more robust data delivery system for decentralized applications.

 

Price Prediction and Valuation of RedStone

According to the currently available data, the RedStone project has raised a total of $22 million. The latest round of financing took place on July 2, 2024, and the general financing is only the A round of financing. There may be more financing in the future. Therefore, from the perspective of financing, the reasonable market value of RedStone may be at least $200 million to $300 million.

 

In addition, considering the narrative of RedStone, its biggest narrative is that its Oracle is built on the basis of EVM and is naturally compatible with multiple blockchains. This narrative can also further increase its market value. Once RedStone issues a coin, its market value may reach around $3-4 billion in the case of high market popularity in the early stage. Investors can use this as a reference to evaluate the performance of the token price at that time.

 

Disclaimer: Price analysis and valuation are affected by many factors. Theoretical analysis does not mean that the token will definitely reach the envisioned price level. Therefore, the content of this article does not constitute any investment advice. Investors need to do their own research.