Coin overview
RED
Ended--
Last price (USDT)
342.06K
24h total (USDT)
1.50M
Total vol (USDT)
2025-02-27 10:00:00 ~ 2025-03-06 12:30:00
Trading time (UTC+0)
2025-03-06 14:00:00 ~ 2025-03-06 18:00:00
Delivery time (UTC+0)
Total supply597.00M
Resources
Introduction
RedStone is a modular oracle supporting 140+ clients including Morpho, Pendle, Spark, Venus, Ethena, Etherfi, Lombard and many more. While RedStone is live on 70+ chains including the upcoming ones like Monad, Berachain, MegaETH, Unichain, it also ensures further innovation on established ecosystems i.e. Ethereum or Base. Thanks to RedStone reliable infrastructure DeFi teams can build their solutions withought limiatations met with legacy oracle providers. As the only oracle RedStone provides both Push and Pull oracle model cross-chain.
Bitcoin-stocks correlation signals USD fragility and not risk-on fervor
Opinion by: Vugar Usi Zade, chief operating officer of Bitget Bitcoin’s price has started to sway with the S&P 500, and a chorus of commentators says this proves crypto has “grown up” and joined the ranks of typical risk assets. That reading misses the deeper melody. The real story is not about investors chasing excitement when both markets lurch in the same direction. It is about eroding faith in the money that prices everything and, by extension, in the policies that govern it. Every trade is a fraction. The numerator is the asset. The denominator is the currency. If faith in the denominator weakens, numerators of every kind climb together. Bitcoin ( BTC ) and equity futures fell in early April and then rebounded almost tick-for-tick after the White House surprised markets with steep tariffs on Asian imports. The swings seem to say more about the greenback than about risk appetite. The tariff shock raised doubts about US fiscal discipline and the Federal Reserve’s room to respond without reigniting inflation. Sticky inflation and fiscal sprawl keep the denominator under pressure The 30-day correlation between Bitcoin and the S&P jumped above 0.4 last month, the highest since 2020, according to RedStone Oracles research. The US Dollar Index (DXY) slid to a 12-month low on the same days; Bitcoin gained 9%; and the S&P rallied 6%. That is not random. It is a collective hedge — a move away from a denominator suddenly perceived as unstable. That pattern shows up on trading desks. When the DXY loses half a point intraday, buy orders for Bitcoin and index ETFs jump within minutes, often placed by the same hedge fund algorithms. Machines do not care whether satoshis or semiconductor shares sit on the other side; they care that the denominator is fluttering and tangible assets may reprice once the dust settles. Headline US inflation has cooled from 9% in 2022 to about 3% today, yet sticky services prices and swelling deficits keep real-yield expectations fragile. Traders no longer ask whether the Fed will tolerate higher inflation; they debate how much. When the Fed surprised markets with a 50-basis-point cut in December 2024, five-year breakevens jumped to their highest since 2011. Bitcoin cleared $70,000 within four sessions, and the S&P set a record close. Correlation followed credibility — both assets rose because cash felt like a wasting asset. De-dollarization is no longer theoretical Pressure also comes from abroad. The BRICS bloc now settles more trade in local currencies and, with some help from the Bank for International Settlements, tested wholesale central bank digital currencies (CBDCs) before the BIS stepped back over sanction concerns . Central banks bought 1,045 tons of gold last year, the largest haul since the 1960s, while trimming Treasury holdings. Sovereign funds are already testing Bitcoin allocations, and legislatures from Singapore to Argentina have eased rules on using it. Each move may look minor, yet together, they signal a widening search for exits from the dollar. When official institutions diversify, private capital does not wait on ceremony — it is front-run. Stocks behave like scarce assets when cash feels elastic Skeptics argue that Bitcoin trades are like tech stocks because both attract speculative capital. Yet equities themselves morph into store-of-value vehicles when fiat feels stretchy. Related: Crypto lobby pushes Senate to pass stablecoin bill without debate The S&P’s price-to-sales ratio sits near all-time highs even as earnings growth slows, a pattern last seen during the late-1990s inflation scare. Capital is paying up for productive assets (just as it pays up for digital scarcity) because both look sturdier than paper promises. Volatility tells the same tale. Bitcoin’s realized swings in April slipped below those of the Nasdaq for the first time . Dampened moves hint at a maturing holder base and reinforce Bitcoin’s appeal as a reserve asset in waiting. Correlation is the smoke; fiat fragility the fire Correlation is fickle. In 2023, Bitcoin decoupled from stocks when US regional banks wobbled, jumping 20% even as the S&P sagged. The weld appears only when doubts about money itself dominate the tape. Yet smoke points to fire. In the months since the Fed’s December pivot, rolling correlations have spent more time above 0.3 than in the previous 18 months combined. Currency traders call this a “common-factor regime” — a polite way of saying the dollar is the only thing that matters. If that regime persists, even markets for fine art or vintage wine may echo the same beat, indicating that the urge to outrun inflation is spreading through every corner of finance. Those doubts are multiplying. US gross debt has passed $36.2 trillion (124% of GDP), and the Treasury now spends more on interest than on national defense. The Congressional Budget Office projects deficits further rising with $1.9 trillion already. Investors are wagering that the bill will be met with easier money, so they rotate into anything that cannot be printed at will. Joint rallies are distress flares, not proof of convergence Put plainly, a joint surge is the market’s SOS. When the duplicate headlines drive Bitcoin and the S&P higher, investors are not crowning crypto as a tech proxy; they are ring-fencing purchasing power against an overstretched fiscal-monetary mix. The tandem moves will persist as a warning light on the dashboard until Washington restores discipline and the Fed re-anchors expectations. Investors do not wait for a perfect policy. They are acting now, leaning into assets with built-in scarcity. In that process, Bitcoin never loses its identity; equities borrow some of its scarcity halo. The two assets rise together not because they converge but because the ground beneath them shifts in the same direction. Opinion by: Vugar Usi Zade, chief operating officer of Bitget. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Spot Ethereum ETFs break record 19-day inflow streak with modest outflows
U.S.-based spot Ethereum ETFs saw their longest inflow streak to date come to an end on Friday, logging $2.2 million in net outflows as heightened geopolitical tensions led to a broad market downturn. The ETFs had seen 19 straight days of net positive inflows, beating the previous 18-day streak from late November to mid-December 2024, before Friday's reversal. Only two funds logged significant movement on Friday, according to SoSoValue data : Grayscale's Ethereum Mini Trust (ETH) logged $6.7 million in inflows, which was offset by Fidelity's Ethereum Fund (FETH) shedding $8.9 million. The inflow streak for spot ETH ETFs, which began on May 16, was marked by robust demand, including several days where the inflows outpaced those of spot Bitcoin ETFs. The streak brought the ETFs to their highest cumulative inflow value since the funds' launch in July of 2024; the funds now hold just over $10 billion in total net asset value. However, rising geopolitical tension in the Middle East, with Israel and Iran trading rocket fire, sent crypto markets downwards on Friday as investors fled risk assets, putting an end to the inflow streak and sparking $1.1 billion in crypto liquidations . The price of ETH is down about 8% over the past 48 hours, according to The Block's Ethereum Price page . One player helping to power ETH's rise is SharpLink gaming, which became the second-largest individual holder of ETH behind the Ethereum Foundation on Friday by purchasing $463 million worth of the cryptocurrency as part of an effort to grow its treasury strategy. Shares remained flat on Friday following the stock's 70% drop linked to a recent SEC filing from the company. BTC ETFs reach new peak Despite the price of Bitcoin dropping around 2% in the past 48 hours, spot Bitcoin ETFs logged $301.6 million worth of inflows on Friday, sending the funds to a new cumulative total net inflow peak of $45.6 billion, according to SoSoValue data . The inflows were led by industry leader BlackRock's IBIT fund, which logged $239.0 million worth of inflows on Friday. Fidelity's FBTC fund saw $25.2 million, with four other funds seeing less than $15 million in inflows. “Risk assets are experiencing classic flight-to-safety selling while commodities and safe havens surge,” Marcin Kazmierczak, Co-founder and COO at RedStone, told The Block Friday. “For now, volatility is the only certainty,” Kazmierczak added, referencing the escalating Middle East conflict.
Gold Surges While Bitcoin Slips as Iran Threatens Retaliation
Gold prices surged while Bitcoin (BTC) slipped sharply as escalating geopolitical tensions sent shockwaves through global markets. It suggests investors rush to traditional assets to hedge against financial losses, raising concerns about Bitcoin’s safe-haven status. Gold Approaches New Highs Amid Israel-Iran War Crypto markets crashed, recording liquidations reaching $1 billion after Israel’s latest attack on Iran. As of this writing, Bitcoin traded for $104,830, down nearly 3% in the last 24 hours. Bitcoin (BTC) Price Performance. Source: BeInCrypto Similarly, the Ethereum price crashed 10% after the attack, exacerbating the liquidations. In contrast, gold is rising. It is approaching new highs as the precious metal attempts to reclaim its position as the go-to haven during geopolitical stress. “The deterioration of the geopolitical situation has caused a surge in gold prices,” stock analyst Mary noted. She emphasized that critical support levels are $3,420, $3,402, and $3,380. A break above $3,440 potentially opens up a move toward the $3,468–$3,493 range during the US session. As of this writing, gold was trading for $3,422. Gold price performance. Source: TradingView Gold price could extend higher as the Israel-Iran tension threatens to escalate. Notably, following Israel’s attack on Iran’s nuclear sites and military leadership, Iran warned of a “lethal” response. This will not be a mere demonstration of will or technological capability.This time, our response will be lethal. — Iran Military (@IRIran_Military) June 13, 2025 To make matters worse, the US and North Korea appear to be taking sides. On the one hand, North Korea reportedly pledged military support for Iran. The country is slamming Israel’s actions, which show the need for a military response. BREAKING — North Korea will provide Military Support to Iran. pic.twitter.com/xkFEFEVnGF — Pamphlets (@PamphletsY) June 13, 2025 Pamphlets, a USSR State-affiliated media, noted that according to North Korea’s President Kim Jong Un, this is an issue of freedom. Kim had previously called Israel a cancer and a threat to world peace. Notably, Iran is a member of the SCO, a mutual defense treaty that includes China and Russia. Against this backdrop, Beijing calls out the Israeli aggression on Iran as violating international law. On the other hand, the US appears to be siding with Israel, despite its vested interest in diplomacy. CNN reported that Trump said he does not want Israel to target Iran as negotiations on a potential nuclear deal continue. “I want to have an agreement with Iran. We’re fairly close to an agreement. … As long as I think there is an agreement, I don’t want them going in because that would blow it. Might help it, actually, but also could blow it,” CNN reported, citing Trump. Reports link political anchor Bret Baier to the assertion that Trump is backing Israel. BREAKING: Trump says the US will 'defend itself and Israel if Iran retaliates' — The Spectator Index (@spectatorindex) June 13, 2025 This suggests that Trump may announce something different later today. Notwithstanding, Iran is committed to retaliating, raising the red flag of revenge. BREAKING: IRAN RAISES THE RED FLAG OF REVENGE…SHOULD WE BE WORRIED?! pic.twitter.com/hOpgJmyYg4 — Mister Crypto (@misterrcrypto) June 13, 2025 The red flag is associated with mourning and martyrdom in Shia Islam. However, following the 2020 US drone strike that killed General Qasem Soleimani, a prominent Iranian military leader, red flags were raised as a symbol of revenge. The practice is tied to the supreme leader’s calls for retribution. Safe Havens Revisited As Risk-Off Sentiment Dominates The mounting crisis has fueled a stark divergence in asset performance. Gold is soaring while crypto is bleeding. Analysts are warning traders to watch for signs of weakening bullish momentum. This is especially if Europe’s trading session fails to maintain strength. “The geopolitical situation is unstable, and brothers must strictly control the stop loss when trading independently,” analyst Mary warned. The sentiment shift, favoring gold relative to Bitcoin, aligns with recent remarks from Marcin Kazmierczak. The co-founder and COO of RedStone told BeInCrypto that Bitcoin may not be ready to replace gold or bonds as a haven. “With correlations ranging from -0.2 to 0.4, Bitcoin demonstrates a variable relationship with equities rather than providing the consistent negative correlation truly needed for effective portfolio protection,” Kazmierczak told BeInCrypto in the interview. He said Bitcoin can add diversity to a portfolio but will not reliably protect against market crashes. While some crypto proponents have argued that Bitcoin is digital gold, recent price action suggests it still behaves like a high-risk asset in acute uncertainty. As tensions escalate and markets react, the contrast between gold’s rise and Bitcoin’s retreat shapes new narratives around safe-haven assets. Investors are signaling a preference for the historical security of precious metals over the volatility of digital assets in times of crisis.
‘Volatility is the only certainty’: Analysts say on bitcoin dip after Israel-Iran tensions spark $1.1 billion in crypto liquidations
Israel’s preemptive airstrike on Iran reignited market uncertainty on Friday, prompting traders to seek downside protection, QCP Capital wrote in a June 13 update. Cryptocurrencies and U.S. equity futures declined following the news, while gold and oil climbed as investors rotated into traditional safe havens. The GMCI 30 Index fell more than 5% as altcoin dropped sharply and bitcoin briefly hit $103,802 on some exchanges, according to The Block's price page . “Risk assets are experiencing classic flight-to-safety selling while commodities and safe havens surge,” Marcin Kazmierczak, Co-founder and COO at RedStone, told The Block via email. He warned that further escalation or diplomatic breakthroughs would drive near-term volatility. “For now, volatility is the only certainty,” Kazmierczak added. Bitcoin had recovered to $105,000 at the time of writing, per The Block’s price page, but not before $1.1 billion in leveraged crypto positions were liquidated. Long positions accounted for roughly $1 billion of the total, with $441 million tied to bitcoin. The single largest liquidation — a BTC/USDT trade on Binance — was valued at $201.3 million, according to CoinGlass . Long-term view QCP Capital cautioned that prolonged conflict could trigger a global oil supply shock. CoinBureau founder Nic Puckrin echoed this, warning that Iran potentially closing the Strait of Hormuz — responsible for nearly 20% of global oil transit — could fuel risk-off sentiment and further impact crypto markets. “If this happens over the weekend, the market that trades 24/7 – crypto – will once again take the hit,” Puckrin said. Still, Dr. Kirill Kretov, a senior automation expert at CoinPanel, maintained that bitcoin’s long-term structure remains bullish. “Should we really care about the current price dip? Not really,” Kretov told The Block. The analyst said Friday’s pullback was within expected ranges of crypto volatility. He also suggested that large market participants may have used the negative news to push the price of bitcoin lower and accumulate at more favorable prices. “It’s a game of liquidity and positioning,” Kretov noted. CoinBureau's Puckrin agreed, adding that weakness in the U.S. dollar index (DXY), which recently set a three-year low below 100, may prove a more significant driver for bitcoin than Middle East tensions. “Over the long term, what matters most for Bitcoin isn’t geopolitics, it’s the US dollar index. It’s clear USD is only going in one direction, and Bitcoin typically goes in the opposite direction."
Solana price drops to $172 even as RWA integration accelerates DeFi evolution
RWA functionality could enable tokenised treasuries and synthetic ETFs. Oracle model uses on-demand data for improved cost efficiency. Key price support at $168, resistance at $178.50; outlook cautious. Solana is facing renewed pressure in the market as its native token, SOL, has dropped to $172.67 at the time of writing, down 1.26% in the last 24 hours and 3.58% over the past week. Source: CoinMarketCap Despite posting a strong monthly gain of 16.05%, the recent pullback comes as traders reassess short-term positioning across risk assets, especially in the altcoin segment. Still, behind the price action, important ecosystem changes are underway that could shape Solana’s long-term relevance, particularly the growing momentum around real-world asset (RWA) integration in decentralised finance (DeFi). RedStone, a modular oracle provider, has formally launched its support for Solana, enabling developers to feed off-chain data such as financial, commodity, and macroeconomic indices directly into smart contracts. As traditional and digital finance converge, this kind of infrastructure is increasingly seen as a prerequisite for sophisticated DeFi products that seek to mirror or interact with real-world markets. RedStone brings real-world market data to Solana smart contracts RedStone’s launch on Solana introduces a new layer of functionality to the network’s DeFi protocols. The oracle platform delivers price feeds and broader financial data through a unique “on-demand” model, which allows decentralised apps to pull data only when required, keeping costs low and performance high. This is particularly suited to Solana’s high-speed, low-fee environment. The oracle integration could enable the creation of tokenised treasuries, synthetic ETFs, and structured products that rely on real-world inputs—use cases previously limited by on-chain data constraints. With RWA products projected to grow significantly as institutional investors look for blockchain-native representations of familiar assets, Solana’s inclusion in this ecosystem could increase its appeal among developers and financial players alike. DeFi ecosystem may benefit from RWA demand The real-world asset trend is picking up across several Layer 1 chains, with Ethereum and Avalanche previously leading the charge. However, Solana’s growing developer base and infrastructure upgrades make it well-positioned to compete in this arena. Its ecosystem already includes lending platforms, decentralised exchanges, and yield aggregators that can now incorporate external data streams for enhanced offerings. This opens the door for dynamic interest rates based on treasury yields, derivatives tied to commodity prices, and more complex instruments that mimic TradFi structures, giving institutional players a familiar risk framework within a decentralised context. The integration also aligns with Solana’s broader mission to offer scalability without compromising on functionality. Price outlook cautious as SOL clings to support Despite the promising technical upgrades, market participants are watching SOL’s near-term price action closely. After rallying earlier this month, the token has encountered resistance near the $178.50 level and is now hovering just above a key support band at $168.00–$170.00. The 9-period simple moving average (SMA) currently aligns with $172.50, which has become a short-term pivot. A sustained move below this level could invalidate the bullish bias and expose the asset to further declines toward $160.00. On the upside, a break above $178.50 could prompt a retest of $185.00 to $190.00, though momentum indicators suggest buyers may need stronger catalysts. Traders are increasingly cautious as macroeconomic uncertainty and a modest decline in daily trading volume—$3.66 billion at present—point to thinning conviction in the short term. However, long-term participants continue to watch Solana’s ecosystem development, particularly how it evolves around RWA functionality.
Blockchain oracle RedStone brings tokenized TradFi assets to Solana in partnership with Securitize
Key Takeaways RedStone has partnered with Securitize to launch tokenized traditional financial assets on Solana. This integration enables DeFi applications on Solana to incorporate real-world assets like $ACRED and $BUIDL. RedStone is launching its blockchain oracle services on Solana in partnership with Securitize, enabling access to tokenized traditional financial assets like US Treasuries and credit products, the company announced on Wednesday. The integration, powered by Wormhole Queries, is aimed at providing Solana builders with price feeds for both traditional and crypto assets. Developers can now incorporate real-world assets (RWAs), such as Apollo’s $ACRED or BlackRock’s $BUIDL, into dApps. Discussing the launch, RedStone co-founder Marcin Kazmierczak said the development represents a foundational shift in how tokenized RWAs are utilized on Solana. Rather than serving solely as static, tokenized instruments, RWAs can now be actively composed within DeFi protocols, enabling practical use cases that bridge traditional financial products with on-chain systems. “This is a foundational step in making RWAs not just visible but usable in DeFi on Solana,” said Kazmierczak in a statement. “It’s no longer just about tokenization — it’s about composability and unlocking use cases that merge traditional and onchain finance.” Securitize, which partners with major asset managers including Apollo, BlackRock, and VanEck, has chosen RedStone as the oracle provider for its tokenized products. The company said it has accumulated over $3.6 billion in tokenized assets under management. “We’re seeing the walls come down between TradFi and DeFi,” said Securitize’s Head of Credit and DeFi, Reid Simon. “The next evolution is about giving global institutions the tools to transact seamlessly across chains.” RedStone’s collaboration with Securitize, announced in March, helps enhance the usability of Securitize’s tokenized funds across DeFi platforms. RedStone delivers price feeds for these assets, enabling their integration into money market exchanges and collateralized DeFi platforms, with cross-chain capabilities on networks such as Ethereum, Avalanche, and Polygon. Earlier this month, RedStone’s $ACRED feed was successfully deployed in a Morpho vault on Polygon, one of the first live DeFi vaults to integrate a major RWA. The Solana expansion could enable similar products to reach a wider audience, from retail to institutional users.
Bitcoin’s Variable Correlation Suggests Potential for Diversification, Yet Lacks Stability as a Hedge Against Market Downturns
Bitcoin’s correlation with the S&P 500 fluctuates, showing potential for portfolio diversification but not consistency to replace gold or bonds as a hedge. RedStone’s Marcin Kazmierczak notes Bitcoin’s variable relationship with equities, preventing it from being a reliable safe-haven asset for market downturns. Despite periods of outperformance, Bitcoin remains categorized as a “risk-on” asset, offering diversification but not stable protection against stock market crashes. Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee as we dissect Bitcoin’s place in mainstream finance. The narrative of the pioneer crypto decoupling from traditional equity markets gains significant attention, but is it ready for the next step? Crypto News of the Day: Bitcoin Still a Diversifier, Not a Reliable Hedge, RedStone Exec Says COINOTAG’s recent US Crypto News series in April explored whether the digital gold narrative was breaking down as Gold ascended to new highs while Bitcoin lagged. The report came after extensive advocacy for Bitcoin as digital gold, with many presenting it as a safe-haven asset against negative market price movements. “Primary use case for Bitcoin seems to be a store of value, aka ‘digital gold’ in a decentralized finance (DeFi) world,” the US Treasury stated recently. However, recent findings beg the question: Is that time finally here? COINOTAG contacted RedStone to ask: Is Bitcoin a hedge for traditional markets? The response was insightful, with key takeaways from Marcin Kazmierczak, co-founder and COO of the leading cross-chain data oracle provider RedStone. According to Kazmierczak, data support Bitcoin’s role as a portfolio diversifier. Kazmierczak cited analysis of Bitcoin and S&P 500 data from the past 12 months of open American market days. They analyzed on weekly and monthly timeframes. Bitcoin correlation on a 7-day timeframe. Source: RedStone For the 7-day correlation, which provides a more short-term outlook, they noted periods when BTC exhibited a strong negative correlation with the American stock markets. “These are the periods when many called for BTC’s decoupling from the broader markets,” he explained. However, the 7-day aggregation is a short-term metric, making it susceptible to influence from market noise. The 30-day chart provides a clearer representation. Bitcoin correlation with S&P on a 30-day timeframe. Source: RedStone This timeframe reveals several shifts between modest positive, near-zero, and slightly negative correlations throughout the 12 months. Bitcoin May Not Be Ready to Replace Traditional Hedges He explained that Bitcoin exhibited variable correlation with the S&P 500 (SPX) over the past year. This variance, he said, does not support positioning Bitcoin as a replacement for traditional hedges like gold or bonds. “With correlations ranging from -0.2 to 0.4, Bitcoin demonstrates a variable relationship with equities rather than providing the consistent negative correlation truly needed for effective portfolio protection,” Kazmierczak told COINOTAG in the interview. He observed that institutional players still fundamentally classify Bitcoin as a risk-on asset. According to Kazmierczak, this range indicates that Bitcoin operates with periodic independence from traditional equity markets. He believes the correlation is generally modest enough to provide portfolio diversification benefits. However, the variance nullifies Bitcoin from functioning as a reliable counter-movement hedge. “This relationship puts Bitcoin in a diversifier category rather than a haven asset… Bitcoin can add diversity to a portfolio but won’t reliably protect against stock market crashes since it doesn’t consistently move in the opposite direction,” he added. Nevertheless, the RedStone executive articulated that if Bitcoin truly transitions to being treated as a safe-haven, risk-off asset, it would mark the most profound asset narrative transformation in modern financial history. “I believe that’s possible. But not in such a short timespan as crypto believers would like it to be,” Kazmierczak concluded. Chart of the Day Bitcoin vs S&P 500 performance: Source: TradingView The chart suggests Bitcoin’s performance has often diverged from traditional equity markets, especially in 2024-2025. However, this does not definitively indicate a permanent decoupling or consistent negative correlation with equities. While Bitcoin outperformed at times, it still shows periods of correlation with the S&P 500, indicating its role in portfolio protection remains uncertain and context-dependent. A recent US Crypto News publication indicated what could pass as context for these variations. COINOTAG cited political tension and concerns over the Federal Reserve’s (Fed) independence. Byte-Sized Alpha Here’s a summary of more US crypto news to follow today: The US Senate’s PSI is probing President Trump’s cryptocurrency ventures for potential ethics violations and conflicts of interest. Pectra hard fork hit mainnet at 10:05 UTC, finalizing 12 minutes later—Ethereum’s biggest change since the 2022 Merge. Bitcoin spiked above $97,000 following China’s $138 billion stimulus, then retreated to $96,000 amid Fed uncertainty. Changpeng Zhao (CZ) proposes reducing Binance Smart Chain (BSC) gas fees by up to 10x to improve user experience and reduce costs. Bitcoin ETFs saw $85.64 million in outflows, snapping a streak of inflows as institutional investors reduce exposure ahead of the FOMC. Movement Labs fires co-founder Rushi Manche amid a third-party review on market maker issues, triggering community unrest. World Liberty Financial launched a governance vote to approve a USD1 stablecoin airdrop, with 99.97% voter support signaling imminent rollout. Litecoin (LTC) surged 10% despite the SEC’s delay on the Litecoin ETF, trading at $91.68 with strong daily volume. Solana Name Service launches the SNS token, aligning incentives with .sol domain user needs and future ecosystem growth. Crypto Equities Pre-Market Overview Company At the Close of May 6 Pre-Market Overview Strategy (MSTR) $385.60 $396.94 (+2.94%) Coinbase Global (COIN) $196.89 $200.79 (+1.98%) Galaxy Digital Holdings (GLXY.TO) $25.90 $25.30 (-2.3%) MARA Holdings (MARA) $13.15 $13.60 (+3.42%) Riot Platforms (RIOT) $7.86 $8.10 (+3.05%) Core Scientific (CORZ) $8.99 $9.19 (+2.22%) The crypto equities market open race: Finance.Yahoo In Case You Missed It: Bhutan Explores Bitcoin Integration in Tourism Payments with Binance Pay: A New Era for Crypto Adoption
Kenyan Court Demands Deletion of Worldcoin’s Biometric Data Amid Privacy Concerns
Kenya’s High Court has issued a landmark order requiring the global deletion of biometric data collected by Worldcoin following a recent crackdown on biometric data practices in Indonesia. The court’s decision comes after months of public concern over how Worldcoin and similar projects handle sensitive personal information, particularly in developing countries. Worldcoin, a project co-founded by OpenAI’s Sam Altman, collects iris scans in exchange for digital tokens. The company claims this process is necessary to create a secure and unique digital identity for each user. However, privacy advocates and regulators have raised alarms about the risks of storing and processing such sensitive biometric data, especially when collected from vulnerable populations. Following Indonesia’s suspension of Worldcoin due to privacy concerns over biometric data, including a lack of transparency and potential misuse, a Kenyan court has now ordered the global deletion of Worldcoin’s biometric data. These actions reflect increasing global opposition to large-scale biometric data collection, lacking clear safeguards and user consent. In Kenya, the court found that Worldcoin’s data collection practices violated national privacy laws and failed to adequately protect users’ personal information. The court ordered Worldcoin to delete all biometric data gathered from Kenyan citizens and instructed the company to halt further data processing activities in the country. The ruling also called on international regulators to ensure that biometric data collected elsewhere is deleted, setting a precedent for cross-border data protection enforcement. This decision marks a significant moment in the ongoing debate over digital identity, privacy, and the responsibilities of blockchain-based projects operating globally. It signals to other crypto and Web3 companies that robust data protection measures are essential when handling sensitive user information. Meanwhile, RedStone and Worldcoin are partnering to integrate RedStone’s oracle solutions into World Chain, a Layer 2 blockchain. The collaboration seeks to deliver high-quality data for DeFi applications on World Chain by utilizing RedStone’s expertise as a prominent Oracle provider. If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter , LinkedIn , Facebook , Instagram , and CoinMarketCap Community . “Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
Bitcoin Isn’t Ready to Replace Gold or Bonds, Analyst Warns | US Crypto News
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee as we dissect Bitcoin’s place in mainstream finance. The narrative of the pioneer crypto decoupling from traditional equity markets gains significant attention, but is it ready for the next step? Crypto News of the Day: Bitcoin Still a Diversifier, Not a Reliable Hedge, RedStone Exec Says BeInCrypto’s recent US Crypto News series in April explored whether the digital gold narrative was breaking down as Gold ascended to new highs while Bitcoin lagged. The report came after extensive advocacy for Bitcoin as digital gold, with many presenting it as a safe-haven asset against negative market price movements. “Primary use case for Bitcoin seems to be a store of value, aka ‘digital gold’ in a decentralized finance (DeFi) world,” the US Treasury stated recently. However, recent findings beg the question: Is that time finally here? BeInCrypto contacted RedStone to ask: Is Bitcoin a hedge for traditional markets? The response was insightful, with key takeaways from Marcin Kazmierczak, co-founder and COO of the leading cross-chain data oracle provider RedStone. According to Kazmierczak, data support Bitcoin’s role as a portfolio diversifier. Kazmierczak cited analysis of Bitcoin and SP 500 data from the past 12 months of open American market days. They analyzed on weekly and monthly timeframes. Bitcoin correlation on a 7-day timeframe. Source: RedStone For the 7-day correlation, which provides a more short-term outlook, they noted F periods when BTC exhibited a strong negative correlation with the American stock markets. “These are the periods when many called for BTC’s decoupling from the broader markets,” he explained. However, the 7-day aggregation is a short-term metric, making it susceptible to influence from market noise. The 30-day chart provides a clearer representation. Bitcoin correlation with SP on a 30-day timeframe. Source: RedStone This timeframe reveals several shifts between modest positive, near-zero, and slightly negative correlations throughout the 12 months. Bitcoin May Not Be Ready to Replace Traditional Hedges He explained that Bitcoin exhibited variable correlation with the SP 500 (SPX) over the past year. This variance, he said, does not support positioning Bitcoin as a replacement for traditional hedges like gold or bonds. “With correlations ranging from -0.2 to 0.4, Bitcoin demonstrates a variable relationship with equities rather than providing the consistent negative correlation truly needed for effective portfolio protection,” Kazmierczak told BeInCrypto in the interview. He observed that institutional players still fundamentally classify Bitcoin as a risk-on asset. According to Kazmierczak, this range indicates that Bitcoin operates with periodic independence from traditional equity markets. He believes the correlation is generally modest enough to provide portfolio diversification benefits. However, the variance nullifies Bitcoin from functioning as a reliable counter-movement hedge. “This relationship puts Bitcoin in a diversifier category rather than a haven asset… Bitcoin can add diversity to a portfolio but won’t reliably protect against stock market crashes since it doesn’t consistently move in the opposite direction,” he added. Nevertheless, the RedStone executive articulated that if Bitcoin truly transitions to being treated as a safe-haven, risk-off asset, it would mark the most profound asset narrative transformation in modern financial history. “I believe that’s possible. But not in such a short timespan as crypto believers would like it to be,” Kazmierczak concluded. Chart of the Day Bitcoin vs SP 500 performance: Source: TradingView The chart suggests Bitcoin’s performance has often diverged from traditional equity markets, especially in 2024-2025. However, this does not definitively indicate a permanent decoupling or consistent negative correlation with equities. While Bitcoin outperformed at times, it still shows periods of correlation with the SP 500, indicating its role in portfolio protection remains uncertain and context-dependent. A recent US Crypto News publication indicated what could pass as context for these variations. BeInCrypto cited political tension and concerns over the Federal Reserve’s (Fed) independence. Byte-Sized Alpha Here’s a summary of more US crypto news to follow today: The US Senate’s PSI is probing President Trump’s cryptocurrency ventures for potential ethics violations and conflicts of interest. Pectra hard fork hit mainnet at 10:05 UTC, finalizing 12 minutes later—Ethereum’s biggest change since the 2022 Merge. Bitcoin spiked above $97,000 following China’s $138 billion stimulus, then retreated to $96,000 amid Fed uncertainty. Changpeng Zhao (CZ) proposes reducing Binance Smart Chain (BSC) gas fees by up to 10x to improve user experience and reduce costs. Bitcoin ETFs saw $85.64 million in outflows, snapping a streak of inflows as institutional investors reduce exposure ahead of the FOMC. Movement Labs fires co-founder Rushi Manche amid a third-party review on market maker issues, triggering community unrest. World Liberty Financial launched a governance vote to approve a USD1 stablecoin airdrop, with 99.97% voter support signaling imminent rollout. Litecoin (LTC) surged 10% despite the SEC’s delay on the Litecoin ETF, trading at $91.68 with strong daily volume. Solana Name Service launches the SNS token, aligning incentives with .sol domain user needs and future ecosystem growth. Crypto Equities Pre-Market Overview Company At the Close of May 6 Pre-Market Overview Strategy (MSTR) $385.60 $396.94 (+2.94%) Coinbase Global (COIN) $196.89 $200.79 (+1.98%) Galaxy Digital Holdings (GLXY.TO) $25.90 $25.30 (-2.3%) MARA Holdings (MARA) $13.15 $13.60 (+3.42%) Riot Platforms (RIOT) $7.86 $8.10 (+3.05%) Core Scientific (CORZ) $8.99 $9.19 (+2.22%) Crypto equities market open race: Finance.Yahoo
Indonesia Suspends Worldcoin Over Regulatory Breach
Indonesia’s Ministry of Communication and Digital (Komdigi) has temporarily revoked the registration certificate of World Network, formerly known as Worldcoin, along with its WorldID services, following a surge of public complaints over allegedly suspicious activities linked to the platforms. As part of its precautionary response, Komdigi announced plans to summon PT. Terang Bulan Abadi and PT. Sandina Abadi Nusantara, two local companies, are tied to World Network and WorldID operations in Indonesia. This move, the ministry stated, aims to “prevent potential risks to the public.” Early findings from the investigation revealed that PT. Terang Bulan Abadi is not officially registered to provide digital services, while Worldcoin was found to be operating under a registration certificate belonging to an unrelated legal entity. Highlighting the gravity of these violations, Alexander Sabar, Director General of Digital Space Oversight, stated that using another company’s identity and failing to meet registration obligations represents a “serious breach” of digital service regulations. He also urged the public to remain cautious of unauthorized platforms and to report suspicious services via Komdigi’s official complaint channels. These developments in Indonesia echo earlier concerns raised by Brazilian regulators. Investigations revealed that World Network may have improperly influenced user consent by offering financial incentives in exchange for biometric data. Building on this, Brazil’s data protection authority, the Autoridade Nacional de Proteção de Dados (ANPD), cautioned that compensation in the form of native tokens such as Worldcoin (WLD) could compromise the validity of consent, particularly among vulnerable groups whose monetary rewards may more easily sway. Meanwhile, Worldcoin is bolstering its Layer 2 blockchain, World Chain, through a new partnership with Oracle provider, RedStone. The integration is set to enhance the network’s data infrastructure, delivering high-quality, cost-effective Oracle services to developers building DeFi applications. Built on Optimism’s OP Stack, World Chain will now benefit from access to more than 1,250 real-time price feeds provided by RedStone, ensuring reliable market data while preserving Ethereum-grade security. If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter , LinkedIn , Facebook , Instagram , and CoinMarketCap Community . “Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
Analysis: Institutions like BlackRock and Citigroup are driving RWA tokenization into practical application, with Ethereum remaining the primary platform
According to Cointelegraph, several institutions including BlackRock and MultiBank are actively promoting RWA (Real World Asset) tokenization projects. BlackRock plans to create a blockchain-based digital ledger technology (DLT) share class for its $150 billion Treasury Trust fund to record investor holdings on the blockchain. Citibank is exploring digital asset custody, and Franklin Templeton has tokenized a money market fund on a public blockchain. RedStone co-founder Marcin Kazmierczak pointed out that these developments indicate that tokenization has moved beyond theoretical discussions and into practical applications by market leaders. Currently, Ethereum remains the main platform for RWA tokenization due to its advantages in ecosystem, developer support, and infrastructure.
Analysis: Institutions like BlackRock and Citigroup are driving RWA tokenization into practical application, with Ethereum remaining the main platform
Recently, several institutions such as BlackRock and MultiBank are advancing RWA (Real World Assets) tokenization projects. BlackRock plans to create a blockchain-based digital ledger technology (DLT) share class for its $150 billion Treasury Trust fund to record investors' holdings on the blockchain. Citibank is exploring digital asset custody, and Franklin Templeton has tokenized a money market fund on a public blockchain. RedStone co-founder Marcin Kazmierczak pointed out that these developments indicate that tokenization has moved beyond theoretical discussions and into practical applications by market leaders. Currently, Ethereum remains the main platform for RWA tokenization due to its advantages in ecosystem, developer support, and infrastructure.
Analysis: BlackRock, Citigroup and other institutions are pushing RWA tokenization into the practical stage, and Ethereum is still the main platform
in recent times, institutions such as BlackRock and MultiBank are promoting the tokenization of RWA (Real World Assets) projects. BlackRock plans to create blockchain-based digital ledger technology (DLT) share classes for its $150 billion Treasury Trust fund to record investors' shareholding information on the blockchain, Citigroup is exploring digital asset custody, and Franklin Templeton has tokenized money market funds on a public blockchain. RedStone co-founder Marcin Kazmierczak pointed out that these developments indicate that tokenization has moved beyond theoretical discussions and into the practical application stage led by the market leaders. Based on advantages such as ecosystem, developer support, and infrastructure, Ethereum remains the main platform for RWA tokenization.
Whales and Institutions Build Bitcoin Holdings Amid Predictions of a Steady Easter Weekend
Crypto firms and large investors are ramping up their Bitcoin purchases as analysts anticipate a calmer weekend following recent market fluctuations. Market dynamics are shifting with whales accumulating Bitcoin, reflecting strong institutional confidence amid ongoing economic uncertainties. “Investors are becoming more strategic with their holdings,” said a representative from Arkham Intelligence, underscoring the recent buying spree. Crypto whales are accumulating Bitcoin, with institutions showing strong confidence as market analysts predict a stable weekend ahead. Crypto Analysts Eye Quiet Easter Weekend After Weeks of Turmoil Despite significant accumulation by institutional investors and whales, concerns about market volatility linger as over 170,000 Bitcoin have recently entered circulation. This influx, particularly from the medium-term Bitcoin holders—who typically retain their assets for three to six months—alerts analysts to potential market shifts. Market Movements Indicate Possible Volatility According to analysis from CryptoQuant, the recent surge in Bitcoin supply could herald “imminent” volatility in the market. However, analysts from Bitfinex have noted that historical patterns indicate major on-chain movements typically do not impact weekend price actions significantly, especially given that the US markets will be closed for Easter. “With funding rates remaining stable and the lack of active trading in liquid markets, we expect limited volatility unless influenced by unexpected news,” they cautioned. Understanding the Recent Bitcoin Accumulation Trends The recent wave of buying activity is not merely speculation but a strategic accumulation by several large entities eager to position themselves favorably in a shifting economic landscape. Marcin Kazmierczak, the COO of RedStone Oracles, remarked, “These movements might be operational in nature rather than indicative of an upcoming sell-off.” In the context of heightened scrutiny following significant price fluctuations in various digital assets, this strategic accumulation reflects a calculated approach by key market players. Risks of Weekend Volatility in Crypto Markets Recent events have underscored the elevated risk of weekend volatility in the cryptocurrency space. A dramatic collapse in the price of the Mantra (OM) token on April 13, alongside a substantial drop in Bitcoin’s value two weeks prior, has heightened concerns among investors. “The liquidity issues and manipulation allegations highlighted during these price movements emphasize the need for caution,” remarked financial analysts. The Impact of Continuous Trading on Bitcoin Valuation Bitcoin’s unique 24/7 trading environment often subjects it to extreme price movements during low-volume periods, such as weekends. Blockstream CEO Adam Back explained, “These rapid fluctuations are largely due to the low volume of trades during this time, which can exacerbate price changes.” This underscores the importance of strategic timing and understanding market behavior, especially during weekends and holidays. Conclusion In summary, while the steady accumulation of Bitcoin by whales and institutions suggests continued confidence in the asset, investors must remain vigilant to potential volatility spikes. The unique characteristics of the cryptocurrency market necessitate a careful, well-informed approach as stakeholders navigate this complex landscape. Understanding market dynamics will be crucial as we observe the impacts of the upcoming holiday weekend. In Case You Missed It: Synthetix Outlines Strategies Amid sUSD's Depegging Challenges and Market Volatility
Securitize acquires MG Stover fund services arm; $38 billion in assets now under administration
The real-world asset (RWA) tokenization firm Securitize has acquired a crypto-centered fund administration company out of MG Stover for an undisclosed amount. The acquisition aims to bolster digital asset fund administration for Securitize Fund Services, the company’s in-house platform, according to a release Tuesday. The deal brings Securitize’s assets under administration to $38 billion across 715 funds, making it one of the largest digital asset fund administrators. Securitize did not acquire MG Stover in full; the company acquired only its fund administration division. MG Stover was acquired by PolySign in 2022. The addition of MG Stover’s fund administration team will expand Securitize Fund Services’ offerings, including helping companies and funds raise capital through tokenized securities and simplifying the process of turning traditional assets into tokenized ones, the release said. "Securitize's acquisition of MG Stover's Fund Administration business cements our role as the most comprehensive platform for institutional grade real-world asset tokenization and fund administration," said Securitize Co-Founder and CEO Carlos Domingo in a statement. "This is a significant step in our growth, reinforcing our commitment to expanding our capabilities as we serve an ever-expanding cohort of asset issuers and investors." Securitize has been expanding its crypto-focused offerings since integrating its first oracle in mid-March, The Block previously reported. The company enlisted RedStone as its primary data provider to help bring tokenized funds from BlackRock, KKR and other institutions into decentralized finance. MG Stover is a Denver-based fund administration firm that provides services for digital asset funds, private equity, hedge funds and venture capital, according to its website. The Block reached out to Securitize and MG Stover for comment. Last year, the world's largest asset manager BlackRock selected Securitize to tokenize the BlackRock USD Institutional Digital Liquidity Fund ( BUIDL ) and issue it on a public blockchain. BUIDL crossed $1 billion in assets under management in March of this year, The Block previously reported.
Spark and RedStone partner on campaign to reward DeFi users with approximately $6 million worth of RED tokens
Spark, a subDAO that is part of the Sky (formerly MakerDAO) ecosystem, has launched a new initiative to "reward user participation." The program, called Spark Rewards, will offer weekly token payouts to "users who take specified onchain actions that contribute to the growth of the Spark ecosystem." The first campaign will be run in collaboration with oracle provider RedStone. As part of the initiative, RedStone will integrate price feeds to Spark’s existing oracle system maintained by Chronicle and Chainlink. Spark, a decentralized lending platform, notes that "most DeFi protocols only use one oracle provider." Participants in the so-called "RED Season" program will supply cbBTC, a wrapped version of bitcoin created by Coinbase, to the SparkLend smart contract on the Ethereum mainnet in exchange for RedStone’s recently launched RED token. Approximately 11.5 million RED tokens worth about $6 million are expected to be distributed over the campaign. "Spark Rewards is all about unlocking synergies across DeFi," Sam MacPherson, CEO and co-founder of Phoenix Labs, the RD company behind Spark, said in a statement. "By empowering users to actively contribute, we’re strengthening the entire ecosystem to create a more resilient, connected, and user-aligned DeFi landscape that truly benefits everyone involved." Spark has attracted over $2.1 billion liquidity and generates $130 million in annualized revenue. Last year, the protocol announced a $1 billion Tokenization Grand Prix competition to onboard real-world assets into DeFi by offering capital to selected participants, including giant asset managers Apollo and BlackRock and crypto-natives like Superstate. RedStone was recently tapped by Securitize as its primary oracle for tokenized funds issued by BlackRock, Apollo and other financial institutions.
XRP price forms doji after bullish Ripple news, gains to be short-lived
The XRP price has formed a giant doji candlestick pattern, pointing to a potential relief rally after some positive Ripple news. Ripple (XRP) retested the important resistance level at $2, up about 20% from the lowest level this week. However, it remains roughly 43% below its highest point this year. The first notable XRP news came from Standard Chartered, which estimated the coin could surge from $2 to $12 over the next four years. Such a move would push Ripple’s market capitalization from the current $113 billion to over $600 billion, assuming the supply remains unchanged. Analysts cited Ripple’s growing role in the cross-border payments sector, which is currently dominated by SWIFT. Ripple has positioned its solution as more transparent, faster, and more cost-effective. While a typical SWIFT transaction costs between $20 and $50, Ripple’s costs less than $1. Additionally, Ripple transactions are completed instantly, whereas SWIFT transfers often take longer. You might also like: Ripple acquires prime broker Hidden Road for $1.25 billion to expand institutional services In a recent interview, Brad Garlingouse, Ripple’s CEO, noted that the end of the SEC casehas led to more partnerships with American companies. Most of these firms kept off Ripple when the case was going on, leading to make more partnerships with international companies. Standard Chartered also highlighted Ripple’s progress in the stablecoin sector. Its RLUSD token has now reached a market cap of nearly $300 million. Just last week, Ripple integrated RLUSD into its payment network. The other top Ripple news was its decision to acquire Hidden Road, in a $1.25 billion deal. This acquisition will expand Ripple’s institutional reach by tapping into Hidden Road’s established customer base. XRP price technical analysis as it forms a doji candle XRP price chart | Source: crypto.news On the daily chart, XRP fell to a low of $1.6145 on Monday, marking its lowest level since November and aligning with the 50% Fibonacci Retracement level. This decline came as broader crypto markets dropped amid ongoing trade jitters. Following the sell-off, XRP formed a giant doji candlestick, typically characterized by a long upper and lower shadow and a small real body. This pattern often signals a potential trend reversal, which helps explain the token’s bounce back toward the key $2 level. However, XRP price still faces some substantial risks ahead. For one, there is a risk that this rebound is a dead cat bounce or a bull trap. Such a price action is usually a temporary rebound that leads to more downside. Another risk is the possibility of a break-and-retest pattern, where an asset breaks below a key support level and then retests it from below. In this case, XRP’s retest of $2, the neckline of a bearish head and shoulders pattern that formed between November and this week, could indicate more downside ahead. Lastly, XRP has already formed a death cross, with its 50-day moving average crossing below the 200-day moving average. This bearish signal suggests that the downtrend may resume, potentially pushing the price below $1 in the short term before any eventual recovery. You might also like: RedStone launches Bolt, a real-time oracle built for speed on MegaETH
RedStone launches "Bolt" oracle on Ethereum expansion solution MegaETH
Odaily Planet Daily reports that the prophecy machine development team, RedStone, has become the latest project deployed on Ethereum's Layer 2 network, MegaETH. The innovative architecture they use breaks the limitations of traditional Rollup solutions. This collaboration coincides with the launch of MegaETH's public testnet - this is the final preparation stage before the main network starts up. Marcin Kazmierczak, co-founder of RedStone, stated that their Bolt system will provide a "plug and play" feature compatible with traditional push data architectures of mainstream DeFi protocols such as Compound and Aave. (The Block)
RedStone launches Bolt, a real-time oracle built for speed on MegaETH
RedStone has launched a new oracle service called RedStone Bolt, designed to provide near-instant price updates to decentralized applications. The product is live on the MegaETH testnet and is designed specifically for blockchains that process data at high speeds, like MegaETH, which targets 100,000 transactions per second, according to a note shared with crypto.news. Oracles are tools that send real-world data, like asset prices, onto blockchains, where smart contracts can use them to execute decisions. Many existing oracles use a slower, “pull” model where smart contracts request data. RedStone Bolt uses a “push” model that sends updates automatically and faster, reducing the delay between market price changes and when they show up on-chain. Real-time performance data Bolt is built for real-time performance. It can update price data every 2.4 milliseconds, compared to the 10-second intervals in RedStone’s ( RED ) existing feeds. This speed is necessary for new blockchains like MegaETH, where blocks are created every 10 milliseconds. Because RedStone Bolt uses the push model, it can work with many existing DeFi protocols without requiring them to change their code or go through new audits. The system streams data directly from centralized exchanges, aggregates it, and delivers it on-chain almost immediately. This is meant to support DeFi apps that rely on up-to-date pricing to avoid risks like flash loan attacks or incorrect liquidations. RedStone Bolt is available now on the MegaETH testnet. Developers building on the chain can test real-time data flows and begin integrating the oracle without additional engineering work.
RedStone rolls out new 'Bolt' oracle on monolithic Ethereum scaling solution MegaETH
RedStone, the oracle development team, is the latest project to deploy on MegaETH, the buzzy Ethereum Layer 2, bucking the traditional rollup trend. The move follows shortly after MegaETH launched its public testnet, the last step before deploying its much-anticipated mainnet. “As MegaETH scales toward 100,000 TPS and sub-millisecond latency, RedStone is the only oracle fast enough — and flexible enough — to keep up,” the team wrote in a statement, noting the oracle service can push out price updates “every 2.4 milliseconds.” Oracles are a key component of the blockchain ecosystem. They are purpose-built systems that feed off-chain information, including prices and other data, to onchain smart contracts. RedStone’s latest oracle system, RedStone Bolt, was designed through a partnership with MegaETH. Bolt is said to be “the first and only ultra-fast, sub-second, push oracle.” Unlike "pull oracles,” which require specific smart contracts to actively request data from an oracle as needed, push oracles proactively "push" data to the blockchain without being prompted. RedStone Bolt will feature “plug-and-play” capabilities to integrate with “protocols built for traditional push feeds” like DeFi giants Compound, Morpho, Spark, Venus, Euler, Fluid and Aave, RedStone co-founder Marcin Kazmierczak said in a statement. Last month, institutional tokenization firm Securitize tapped RedStone as its primary data provider for current and future products issued by the likes of Apollo, BlackRock, Hamilton Lane and KKR, enabling those institutional funds to deploy deeper into DeFi. RedStone, which raised $15 million in Series A funding from Arrington Capital, Kraken Ventures and others, powers protocols on Ethereum, Avalanche, Polygon and 70 other chains. MegaETH is looking to become a “monolithic” scalability solution for Ethereum by tapping alternative data availability solutions like EigenLayer and using bespoke sequencers that operate in parallel. The project testnet achieved 20,000 TPS on its first day and hopes to quadruple that.
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