VIRTUAL Token Sees Significant Price Surge Following Upbit Listing
The VIRTUAL token, which serves as the native currency for the innovative AI agent generator platform known as Virtuals Protocol, experienced a remarkable increase in value during European trading hours. This surge was sparked by the announcement from Upbit, South Korea’s leading cryptocurrency exchange, regarding the listing of this particular token.
Following Upbit’s decision, the price of VIRTUAL soared by an impressive 28%, reaching $2.61. This upward movement brought the token close to testing the downtrend line that has characterized the sell-off since its peak on January 2, where it hit around $5.25. This data is supported by insights from TradingView and CoinDesk.
The listing includes trading pairs such as VIRTUAL/KRW, VIRTUAL/USDT, and VIRTUAL/BTC, which opens up the token to a wider audience of altcoin-savvy traders in the Korean market.
Earlier this month, Virtuals Protocol made headlines by announcing a strategic program aimed at buying back and permanently destroying ecosystem agent tokens. This initiative will utilize nearly 13 million VIRTUAL tokens that have been accumulated from post-bonding trading revenues.
As a Base native protocol, Virtuals Protocol has recently expanded its operations to the Solana blockchain through LayerZero technology. This expansion includes the launch of a new Meteora pool designed to enhance trading opportunities and user engagement. Additionally, the protocol has established a SOL reserve by converting 1% of its trading fees into SOL, further solidifying its commitment to growth and sustainability.
With these developments, the VIRTUAL token is poised for a potentially exciting future in the ever-evolving cryptocurrency landscape.
