RedStone's Big Move: Ethena's USDe and sUSDe Hit BNB Chain, Prices Surge 14%!

Ethena's Stablecoins Go Big on BNB Chain

Hold onto your hats, crypto fans! RedStone just rocked the world of stablecoins by bringing Ethena Labs' USDe and sUSDe to the BNB Chain. This move has sent RedStone's (RED) price soaring by a whopping 14%!

A New Era for RedStone and Ethena

RedStone didn't just whisper about this launch; they shouted it from the rooftops. USDe and sUSDe price feeds are now live on BNB Chain, opening up Ethena's massive $5B+ stablecoin universe to even more users. This is a game-changer since RedStone kicked off their partnership with Ethena back in March 2024, being the first to back these stablecoins. And guess what? Venus Protocol and Pendle Finance were quick to jump on board, letting folks borrow, lend, trade, and lock in future yields with spot-on, real-time pricing.

BNB Chain: The New Playground for USDe and sUSDe

With BNB Chain's lightning-fast and wallet-friendly transactions, plus a booming developer scene, USDe and sUSDe are now more accessible than ever. The hunger for these stablecoins on BNB Chain is off the charts, and in just one week, USDe's market cap on BNB Chain has blasted past $8.5 million!

RED Price Rockets Up, But Watch Out for the Bears

RED's price is now at $0.44, up 14% and riding a trading volume wave that's surged 152% in the last 24 hours, hitting over $28 million. But don't get too comfy; it's been a wild ride since mid-March. After hitting a high of $0.95, the bears took over, smashing through support levels at $0.70, $0.60, and $0.50. The latest blow came on April 25-26 when the $0.40 support crumbled under intense selling pressure, sending the price crashing to a rock-bottom $0.32 just three days ago. But hey, the buyers fought back, pushing it back over $0.40 and now up to $0.44.

Bullish Signs on the Horizon?

Check out the 4-hour chart, folks! It's showing some serious bullish vibes with a string of green candles since yesterday. Plus, the price has bounced back above the 20-period Exponential Moving Average, hinting at a possible trend shift. Could this be the start of a new bull run? Keep your eyes peeled!