Virtuals Protocol (VIRTUAL) Soars Past $1.50 as Binance.US Opens Trading

Virtuals Protocol (VIRTUAL), a popular AI agent project, soared past $1.50 early Tuesday after Binance.US opened trading for the altcoin.

Virtuals Protocol (CRYPTO: VIRTUAL), a fast-moving cryptocurrency project in the burgeoning field of artificial intelligence (AI), shot up more than 30% on Tuesday after Binance.US opened trading for the altcoin.

The move put it among the best-performing cryptocurrencies among the top 100 for the day, while major tokens like bitcoin (CRYPTO: BTC) and ether (CRYPTO: ETH) traded largely flat.

At time of writing, on Tuesday at 12:38 ET, saw VIRTUAL’s price move up 30% over the past 24 hour period. The token’s price was at $1.36, while its 24 hour high went as high as $1.50.

These gains also pushed its market capitalization close to $1 billion, slotting the token into 94th place among digital assets by size, according to the data from CoinMarketCap.

The surge followed Binance.US commencing deposits, trading, and the launch of a VIRTUAL/USDT pair, opening up broader access to American retail investors.

Listings on major exchanges often spark stronger liquidity and renewed market interest as the tokens become more easily accessible.

The token is now up more than 107% over the past week, having traded at just around $0.66 on April 23.

However, the token is still a long way from its all-time high of around $4.6, which the token hit earlier this year amid a wider crypto market surge.

The move also comes as Virtuals Protocol recently faced a test of user trust with the Genesis Launch event. The platform is aiming to build an ecosystem of AI agents, and it recently launched a new distribution mechanism for its tokens.

But one project, PlayGameAI, allegedly exploited the system to siphon tokens, while users who were supposed to receive tokens were not credited. In response, Virtuals Protocol said it would be fully refunding affected users, with the exception of three wallets linked to direct transfers outside the intended scope of the Genesis Launch.

Launched earlier this year, Virtuals Protocol is a decentralized protocol for creating, co-owning, and monetizing tokenized AI agents. The platform’s native VIRTUAL token is used for facilitating payments and in the governance of the network.

The latest rally has also caught the attention of some traders. One prominent analyst, posting under the name 0xCB on X, previously known as Twitter, said that $1.50 will be a key breakout level to watch.

They added that a move above that level could spark a measured move toward $3, and potentially even a retest of the token’s all-time high if broader crypto market conditions remain stable.

Just this week, Binance also began trading another altcoin, called SIGN, which sparked a 30% price surge.

News data source: kdj.com

The above is the detailed content of Virtuals Protocol (VIRTUAL) Soars Past $1.50 as Binance.US Opens Trading. For more information, please follow other related articles on the PHP Chinese website!