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**RedStone Sees Trading Volume Soar 2000% Amidst Airdrop Modifications and Possible Sell-Off**
The native token of RedStone, RED, has lately gone through a turbulent period, with trading volumes skyrocketing by over 2000% as a result of adjustments to its airdrop design. However, this increase in activity appears to be fueled by a surge in selling activity.
According to RedStone’s formal statement on X, they have implemented considerable adjustments to the selection procedure and distribution strategies for the RED airdrop. Initially, 5% of the total token supply was set aside for the first “Miner Airdrop,” which was aimed at users who satisfied particular early requirements.
RedStone chose to allocate an additional 2% of the total RED supply from the “Ecosystem and Data Providers” pool after receiving input. The eligibility standards were expanded to include more participants based on “Proof of Engagement.” This indicates that users who could demonstrate their participation in the RedStone community or ecosystem became eligible for more airdrop tokens. On Toncoin (TON) Value Forecast for March 26th 6, this additional 2% distribution started.
Data from Coinmarketcap reveals that RedStone’s trading volume has increased by over 2000% in the last 24 hours (currently at $237 million) as a result of the airdrop restructuring and the inclusion of more participants. Simultaneously, the price of RED has fallen by 14% over the same time period. This combination of substantial trading volume and price decline suggests that airdrop beneficiaries are likely selling their tokens, putting downward pressure on the price.
RedStone has announced an additional allocation of 4.5% of “Community and Genesis” tokens six months after the Token Generation Event (TGE), with a formal announcement to follow, in addition to the airdrop restructuring. This airdrop will be aimed at projects that use RedStone’s price feeds, as well as users who participate in pools that are protected by RedStone’s data.
RedStone also announced today that Binance has relisted RED for spot trading after the last-minute airdrop adjustments caused a brief suspension, in other news.
RedStones ongoing agreements can now be found on Bitmex and Orderly.
