RedStone Denies Rumors of Partnership with Web3Port and Whisper
20.03.2025 13:44
RedStone, represented by the ticker RED, has officially denied all rumors regarding a potential partnership with Web3Port and market maker Whisper. In an announcement, the modular DeFi oracle firm clarified that there has never been any collaboration or agreement with these entities, despite circulating claims. The statement emphasized that neither Web3Port nor Whisper has any influence over RedStone's market activities or service provisions. The dispelling of these false claims comes amidst reports linking Web3Port and Whisper to controversies involving trading volume manipulation and price stability issues on Binance. RedStone also highlighted its current partnerships with reputable liquidity providers such as Keyrock and Auros under its Guard Program, ensuring rigorous onboarding and evaluation processes. Additionally, the news comes at a time when the RED token has experienced notable price increases, with a 4% rise on the daily timeframe, 10% over the past week, and 74% over the last month, suggesting that the rumors had not adversely impacted its market performance.
The announcement is likely to have a stabilizing effect on RED’s price by eliminating uncertainties associated with alleged partnerships with controversial firms. In the short-term, removing the negative association may boost investor confidence leading to a modest price increase. Long-term, the impact is neutralized by the absence of new strategic partnerships; however, maintaining transparency and solid partnerships with established liquidity providers like Keyrock and Auros continues to support the coin’s reliability in volatile markets. Quantitative signals such as the recent upward price trends also contribute to a cautiously optimistic outlook.