VIRTUAL Token Sees Sharp Decline Following Upbit Listing Announcement

The native token of the AI launchpad Virtuals Protocol, VIRTUAL, has experienced a significant price drop, falling to approximately $1.30 and marking a 17% decline in the last 24 hours.

The token’s price had briefly surged by 28% following an announcement by South Korea’s leading crypto exchange Upbit that it would list VIRTUAL across multiple trading pairs, including KRW, USDT, and BTC. The listing exposed the token to South Korean traders, pushing the price up to $2.61 during European trading hours.

Short-Lived Price Hike

However, the price increase was short-lived, and as of the latest data, VIRTUAL’s price has shaved 50% off its post-listing peak in the last 24 hours. On the broader weekly and monthly timeframes, it’s down by 30% and 68% respectively.

Market Cap and Competitors

VIRTUAL’s market cap has also suffered a 31% decline over the past week, placing it among the hardest-hit AI tokens. In comparison, its major competitors, AIXBT and AI16Z, have suffered even steeper losses of 43% and 45% respectively.

Liquidity and Trading Volume

Despite the decline, VIRTUAL’s liquidity remains strong at $66.77 million. Additionally, its 24-hour trading volume has seen a nearly 7% increase, although it’s unclear whether this reflects renewed buying interest or panic selling pressure.

AI AGENTS ARE FAR FROM DONE. IN FACT THEY’RE GOING TO BE HUGE!!! BIGGER THAN THEY ARE NOW! THEY CAN NOW PERFORM TRANSACTIONS ON OUR BEHALF. VIRTUALS IS DOING SOMETHING SPECIAL.

Kyle Chasse, a prominent figure in the AI agent space, recently expressed his bullish sentiment on VIRTUAL and the broader AI agent narrative. His statement suggests that VIRTUAL is “doing something special,” which may indicate a potential recovery in the token’s price.

Tips for Investors

When investing in AI tokens like VIRTUAL, it’s essential to consider the following:

  • Stay up-to-date with market trends and announcements that may impact the token’s price.
  • Assess the token’s liquidity and trading volume to gauge market interest.
  • Consider the token’s competitors and their performance in the market.
  • Keep an eye on statements from industry experts and influencers, as they may provide valuable insights into the token’s potential.

For more news and updates on the cryptocurrency market, visit Global Crypto News.

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