Virtuals Protocol Surges: AI Agent Demand Drives VIRTUAL Token to New Heights
November 30, 2024Investors view the integration of AI agents with cryptocurrency as a natural evolution in a dynamic market, offering distinct advantages over traditional financial systems.
This impressive market cap of $1.4 billion reflects the high demand for AI agents within the Virtuals ecosystem.
Major industry players like OpenAI, Google, and Amazon are heavily investing in AI agents, recognizing their potential to revolutionize workflows and create new markets.
Other tokens within the Virtuals ecosystem, such as AIXBT and VADER, have also experienced significant price increases, indicating a broader trend of growth.
Once launched, AI agents under Virtuals Protocol can autonomously facilitate cryptocurrency transactions, eliminating the need for user commands.
The native token, VIRTUAL, has seen remarkable growth, trading at $1.38, marking a 29% rise in just 24 hours and a staggering 161% increase over the past week, contributing to a market cap of $1.9 billion.
Launched in January 2023 on Base, Coinbase's Ethereum layer-2 network, Virtuals Protocol is a marketplace for gaming and entertainment AI agents, co-founded in 2021 as PathDAO before rebranding.
The recent surge in interest for Virtuals Protocol is largely driven by the growing demand for AI agents, which are autonomous programs capable of understanding their environment and making decisions without human intervention.
The value of the Virtuals Protocol ecosystem increased by 28% in one day, with VIRTUAL token surging 150% in value over the past week, entering the top 100 cryptocurrencies by market cap.
The Base blockchain has achieved an all-time high total value locked (TVL) of $3.5 billion, surpassing Arbitrum as the largest Ethereum Layer 2 network.
The integration of the Phantom wallet with Base has enhanced access for retail users, further boosting interest in Virtuals Protocol.
The blockchain industry is increasingly embracing artificial intelligence technology and tokenization, with Virtuals Protocol emerging as a significant beneficiary of this trend.
Summary based on 2 sources
Get a daily email with more AI stories
Sources
Decrypt • Nov 30, 2024
Virtuals Protocol Tokens on Base Skyrocket as AI Agent Demand GrowsCrypto Briefing • Nov 29, 2024
Crypto AI agent platform Virtuals Protocol hits $1.4 billion market cap