RedStone Token Sees 2000% Trading Volume Surge After Airdrop Restructuring

RedStone has made significant changes to its airdrop selection process and distribution, resulting in a massive 2000% surge in trading volume over the last 24 hours. The token’s trading volume currently stands at $237 million, while its price has declined by 14% over the same period.

Airdrop Restructuring and Eligibility Expansion

RedStone initially launched its first Miner airdrop with 5% of the total token supply, distributing it to users who met the original criteria. However, after reviewing feedback and participation, the platform decided to allocate an additional 2% of the total RED supply from its “ecosystem and data providers” pool. The eligibility rules were expanded to include more participants, and selections were based on “proof of participation,” meaning users who were able to prove their involvement in the community or ecosystem could qualify for the additional airdrop tokens.

RedStone has made immediate changes to the selection process and allocations for the RED airdrop. The checker page for the RED airdrop went live, allowing users to check their eligibility for the airdrop. The extra 2% was made available for claiming on March 6.

Market Impact and Trading Volume

The airdrop restructuring and inclusion of more participants have led to a significant increase in trading volume. The massive spike in trading volume, coupled with the decline in price, suggests that the airdrop claimants are selling off, putting downward pressure on the price.

Upcoming Token Distribution and Listings

Apart from airdrop restructuring, RedStone also announced that an additional 4.5% of the “community and genesis” tokens would be distributed six months following the Token Generation Event. The airdrop will be available to projects utilizing RedStone’s price data sources and will be distributed to users participating in pools secured by RedStone price data.

Additionally, RedStone has been listed on Binance for spot trading, which was reinstated after it had been suspended due to the last-minute airdrop changes. RedStone perpetual contracts have also gone live on Orderly and Bitmex.

For the latest news and updates on RedStone and other cryptocurrencies, visit Global Crypto News.

“RedStone is making immediate changes to the selection process and allocations for the RED airdrop.”

Tips for RedStone Investors:

• Keep an eye on the market and trading volume to make informed investment decisions.
• Understand the airdrop restructuring and eligibility expansion to maximize potential benefits.
• Stay up-to-date with the latest news and updates on RedStone and other cryptocurrencies.
• Consider the potential impact of the airdrop on the token’s price and trading volume.

Post Views: 1