On December 16, the native token of the Virtuals Protocol, an artificial intelligence and metaverse project that has become one of the market’s hottest due to the rise of AI agents, reached a new all – time high.
The price of the Virtuals Protocol token, VIRTUAL, hit $2.96 across major crypto exchanges. This spike occurred as Bitcoin soared past $106,000. The project, which features an AI agent Launchpad on the layer – 2 platform Base, benefited from the market’s growing focus on AI – powered autonomous software.
AI agents have become the new trend. The Terminal of Truths, the first agentic account on X, achieved millionaire status, and its posts about Goatseus Maximus sent the associated meme coin soaring. As AI agents take the bot concept to the next level, with massive and viral interactions across protocols, apps, and other agents, related tokens have been on the rise. The Virtuals Protocol serves as a co – ownership layer for AI agents. Launchpad users can either create AI agents with new tokens or utilize those within the ecosystem.
Last week, the VIRTUAL token started its upward climb, spurred by multiple factors. One significant catalyst was the listing announcement by the crypto exchange OKX. On December 11, OKX announced VIRTUAL/USDT perpetual futures. Then, on December 16, the layer 1 decentralized crypto trading platform Hyperliquid added Virtuals Protocol, enabling investors to go long or short on VIRTUAL with up to 5x leverage. Binance, the world’s largest crypto exchange by volume, also added support for VIRTUAL futures trading.
Coinglass data shows that the open interest in VIRTUAL has spiked by more than 45% in the past 24 hours, reaching over $107 million. The VIRTUAL token’s price has witnessed a remarkable increase of 426% in the past month and more than 14,500% since hitting its all – time low of $0.02018 on July 5, 2024.
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