Virtuals Protocol enables co-ownership of AI agents through tokenization, mainly for gaming and entertainment applications.
VIRTUAL, the native cryptocurrency of the Virtuals Protocol, has successfully attained a significant listing on the Upbit exchange today.
The announcement was sufficient to instigate a 20% increase in the price of VIRTUAL, accompanied by a 107% escalation in daily trading volume, which rose to $345 million.
Upbit Announces Virtuals Protocol (VIRTUAL) Trading Support
Consequently, the fully diluted valuation (FDV) of the digital asset has now exceeded $2.34 billion. Upbit, a prominent cryptocurrency exchange in South Korea, has declared its endorsement for the trading of Virtuals Protocol (VIRTUAL) tokens in pairs with KRW, BTC, and USDT.
The development has provided a significant enhancement in liquidity for the digital asset, concurrently propelling the price of VIRTUAL upward. The VIRTUAL-Base network will exclusively facilitate deposits for the Virtuals Protocol.
Upbit has advised users to verify the network prior to initiating deposits, as transactions conducted on unsupported networks will not be processed and may be subject to extended refund procedures.
Moreover, Upbit has announced that it will only allow transfers from verified virtual asset owners or wallet addresses that have undergone personal authentication.
To promote market stability and mitigate the effects of fear of missing out (FOMO), Upbit exchange has implemented trading restrictions during the initial five minutes following the commencement of trading.
Moreover, it permitted exclusively limit orders during the initial hour. Virtuals Protocol is a blockchain initiative that facilitates the co-ownership of artificial intelligence agents, with a primary focus on applications within the gaming and entertainment sectors.
By turning artificial intelligence agents into tokens, users can co-own these digital entities in a way that’s similar to owning stock in a company.
The platform facilitates the development of artificial intelligence agents, participation in governance, and engagement within the ecosystem via the VIRTUAL token.
The applications encompass liquidity coupling, the acquisition of tokens for AI agents, payment transactions, and governance-related activities. As recently reported, the Ethereum-based Virtuals Protocol is also seeking an expansion to the Solana blockchain network.
VIRTUAL Price Skyrockets Following Upbit Listing
Shortly following the announcement from Upbit, the price of VIRTUAL experienced a significant increase of 20%, surpassing $2.50, while its market capitalization exceeded $1.5 billion.
Furthermore, the daily trading volume has surged by 107%, indicating a robust bullish momentum. The data from Coinglass indicates that the open interest in VIRTUAL futures has experienced a significant increase of 15%, surpassing $211 million.
Renowned cryptocurrency analyst Satoshi Flipper has observed that the price of VIRTUAL has successfully emerged from the descending channel pattern.
This lays the groundwork for a subsequent virtual rally toward its prior all-time high of $5.00 and potentially exceeding that threshold.
