Virtuals Protocol: From the Leadership of AI Agents to Their Temporary Regression
Emerging autonomous artificial intelligence agent platform Virtuals Protocol ($VIRTUAL) has made a startling return, rising 152% during the previous week.
Representing a 334% increase from $0.4384 on April 9, the token hit a three-month high of $1.51 on April 29 and presently trades around $1.45.
While its market capitalization momentarily exceeded $960 million before settling at over $944.7 million at press time, trading volume has surged 62.05% in the past 24 hours, reaching $550.5 million.
For the AI agent area of the crypto market, which skyrocketed in prominence during the fourth quarter (Q4) of 2024, this gathering presents fresh hope.
With Virtuals Protocol mostly responsible, CoinGecko's 2024 study shows that the AI agent market expanded by 322% in Q4.
With a +19,187.79% YTD increase, the platform ranked first among gainers of 2024.
Ranked among the top AI agent tokens on CoinMarketCap, $VIRTUAL has the most market capitalization in its category.
This puts it about eight times larger than AIXBT, a well-known AI agent created utilizing the Virtuals Protocol, and well ahead of rivals including AI16Z, another AI agent that acquired great popularity in 2024.
Though it attracted a lot of market interest, $VIRTUAL over 75% of its worth in the later half of Q1 and saw a sharp drop in both income and price.
A security incident in January also revealed its Discord server to phishing attempts only following a vulnerability in its Uniswap V2 contract was fixed.
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