VIRTUAL hits new all-time high amid 26% surge

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As a seasoned researcher with a keen eye for emerging trends in the crypto market and AI technology, I must admit that the recent surge of Virtuals Protocol (VIRTUAL) has piqued my interest. The rapid growth of AI agents and their impact on various sectors is a fascinating development that I’ve been closely monitoring.

In simple terms, on December 16th, the native token for the Virtuals Protocol – an artificial intelligence and metaverse project gaining significant attention as AI agents become more popular – reached a record peak.

Virtuals Protocol (VIRTUAL) price hit $2.96 across major crypto exchanges to record a new all-time. The project, which offers an AI agent Launchpad on layer-2 platform Base, spiked as Bitcoin (BTC) smashed past $106,000.

Nevertheless, these gains were realized as the market remained focused on AI-driven autonomous software. The rise in popularity of AI agents has been significant ever since the ‘Terminal of Truths’ achieved millionaire status as the initial agentic account on platform X, with its posts about Goateus Maximus (GOAT) causing a dramatic surge in the meme coin.

The escalation of Virtuals Protocol is happening as AI agents elevate the bot game to unprecedented heights. These AI agents, along with protocols, apps, and other agents, are experiencing immense and widespread interaction, causing the related tokens to soar. The Virtuals Protocol initiative serves as a shared ownership platform for these AI agents. Users of the Launchpad can generate new AI agents using the newly introduced tokens or utilize existing ones within the ecosystem.

Last week saw a significant surge for the VIRTUAL token, triggered by several factors such as the announcement of its listing on cryptocurrency exchange OKX.

11th of December saw OKX launching perpetual futures for VIRTUAL/USDT. On the 16th, Hyperliquid, a layer 1 decentralized crypto trading platform, announced integration with Virtuals Protocol, enabling investors to either buy or sell VIRTUAL. The platform provides up to 5x leverage. Notably, Binance, the leading global crypto exchange by trading volume, has also started supporting VIRTUAL futures trading.

Based on information from Coinglass, the open interest for VIRTUAL has surged by over 45% in the last 24 hours, reaching approximately $107 million. Over the past month, the price of the VIRTUAL token has skyrocketed an astounding 426%, and since hitting its all-time low of $0.02018 on July 5, 2024, it has soared more than 14,500%.

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2024-12-16 16:44