VIRTUAL, the native cryptocurrency of Virtuals Protocol, secured a major listing on the Upbit exchange today. The news was enough to trigger a 20% surge in VIRTUAL price along with a 107% pump in the daily trading volume moving to $345 million. As a result, the fully diluted valuation (FDV) of the digital asset has now soared past $2.34 billion.
Upbit Announces Virtuals Protocol (VIRTUAL) Trading Support
South Korea’s popular crypto exchange Upbit has announced its support for the trading of Virtuals Protocol (VIRTUAL) tokens in KRW, BTC, and USDT trading pairs. The development has offered a major liquidity boost to the digital asset while driving VIRTUAL price higher.
Virtuals Protocol deposits will only be supported via the VIRTUAL-Base network. Upbit has warned users to confirm the network before initiating deposits, as transactions on unsupported networks will not be processed and may face prolonged refund procedures. Additionally, Ubit announced that it will only allow transfers from verified VIRTUAL asset operators or personally authenticated wallet addresses.
In order to ensure some market stability and prevent FOMO, Upbit exchange has also introduced some trading restrictions for the first five minutes after trading begins. Furthermore, it facilitated only limit-orders during the first hour.
A Go-To Platform for AI Agents
Virtuals Protocol is a blockchain project that enables co-ownership of AI agents, primarily for gaming and entertainment applications. By tokenizing AI agents, users can co-own these digital entities similar to holding equity in a company.
The platform supports the creation of AI agents, governance participation, and ecosystem engagement through the VIRTUAL token. Use cases include liquidity pairing, AI agent token purchases, payments, and governance activities. As recently reported, the Ethereum-based Virtuals Protocol is also looking for an expansion to the Solana blockchain network.
VIRTUAL Price Skyrockets Following Upbit Listing
Soon after the Upbit announcement, the VIRTUAL price shot up by 20% surging past $2.50 with its market cap surging past $1.5 billion. Also, the daily trading volume has shot up by 107% suggesting strong bullish momentum. The Coinglass data shows that the VIRTUAL futures open interest has surged by 15% to more than $211 million.
Popular crypto analyst Satoshi Flipper noted that VIRTUAL price has broken out of the descending channel pattern. This sets the stage for a further VIRTUAL rally to its previous all-time high of $5.0 and beyond.
Source: Satoshi Flipper
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