RED Token Surges: RedStone Protects Its Reputation Amid False Claims

In the fast-moving world of crypto, rumors can spread like wildfire, causing confusion and uncertainty among traders and investors. Recently, RedStone found itself at the center of such speculation. Claims began circulating about RedStone partnering with Web3Port and Whisper but the company quickly stepped in to clear the air.

False Claims Addressed by RedStone

In an official announcement, RedStone firmly dispelled these rumors, stating that neither Web3Port nor Whisper has ever influenced their market activities or provided services. According to the company, any claims suggesting otherwise were false and made without their consent or knowledge. 

RedStone also demanded that these baseless statements be taken down, although some traces might still linger across various platforms. The firm’s swift action highlights how important it is for companies to protect their reputation and partnerships in a rapidly evolving market.

Why RedStone Avoids Association with Whisper and Web3Port

RedStone’s concerns are understandable. Both Whisper and Web3Port have reportedly been linked to controversies regarding trading volume manipulation and violations of price stability on Binance. Although Binance has not officially disclosed the identity of the market maker involved, industry insider AB Kuai Dong suggested a possible connection to May Liu. Liu is known for running market maker Whisper and has associations with incubating Web3 projects through Web3Port.

In this context, any perceived connection between RedStone and these entities could potentially lead to negative consequences something the firm openly acknowledged in its statement.

Trusted Partnerships Under RedStone’s Guard Program

For market making and liquidity, RedStone has opted to partner with trusted partners. RedStone works with Keyrock, a very trusted liquidity provider that is widely known for providing support to top crypto exchanges. RedStone also partners with Auros, a high-frequency trading company, and global liquidity provider that handles more than $1.5 trillion of trading volume annually.

Both Keyrock and Auros are official participants in RedStone’s Guard Program. This program requires strict legal checks, rigorous onboarding, and performance evaluations to ensure only top-tier firms are part of their ecosystem. RedStone prioritizes credibility and solid partnerships over risky associations.

RED Token Shows Strength Despite Rumors

Interestingly, despite these rumors, RedStone’s token RED has shown impressive growth. On the daily timeframe, RED is up by 4%. Over the past week, it has gained 10%, and over the last month, it has surged by 74%. This suggests that either the rumors failed to impact the market or RedStone’s early clarification reassured investors quickly.

Final Thoughts

RedStone’s proactive strategy of addressing false claims and dissociating itself from dubious entities such as Whisper and Web3Port speaks volumes about the company’s commitment to integrity. By associating with solid partners such as Keyrock and Auros, the company reiterates its commitment to transparency and market integrity. 

Moreover, with the stunning price performance of RED, it is evident that investor faith remains unscathed. In the cryptocurrency space, reputation and transparency are two sides of the same coin, and RedStone appears well cognizant of this fact.