VIRTUAL Price Drops 17% to $1.30 After Brief Surge Following Upbit Listing

VIRTUAL, the native token of the AI launchpad Virtuals Protocol, has seen a sharp decline, falling to approximately $1.30, which marks a 17% drop in the last 24 hours.

The price of VIRTUAL, the native token of the AI launchpad Virtuals Protocol, has seen a sharp decline, falling to approximately $1.30, which marks a 17% drop in the last 24 hours.

The token has experienced a significant downturn after a brief but substantial 28% surge following an announcement by South Korea’s leading crypto exchange Upbit that it would list the token.

On Jan. 31, Upbit announced the listing of VIRTUAL across multiple trading pairs, including KRW, USDT, and BTC. This news had the effect of exposing the token to South Korean traders, pushing the price up to $2.61 during European trading hours.

However, this price hike has proven to be short-lived. According to the latest data from CoinMarketcap, the price of VIRTUAL has dropped by 50% from its post-listing peak in the last 24 hours. On the broader weekly and monthly timeframes, it’s down by 30% and 68% respectively.

The market cap of VIRTUAL has also suffered a 31% decline over the past week, placing it among the hardest-hit AI tokens. Nevertheless, two of its major competitors, AIXBT and AI16Z, have suffered even steeper losses: -43% and -45% respectively.

On a more optimistic note, the liquidity of VIRTUAL remains strong at $66.77 million, according to data from cookie.fun. Furthermore, its 24-hour trading volume has seen a nearly 7% increase—though whether this reflects a renewed buying interest or panic selling pressure remains to be seen.

However, a recent X post by Kyle Chasse may offer some insight on the matter. In his recent post on X, Chasse hinted that VIRTUAL is “doing something special,” with the context suggesting that he’s bullish on the token and the broader AI agent narrative, in general.

AI AGENTS ARE FAR FROM DONE.IN FACT HEY'RE GOING TO BE HUGE!!!

BIGGER THAN THEY ARE NOW!

THEY CAN NOW PERFORM TRANSACTIONS ON OUR BEHALF.

VIRTUALS IS DOING SOMETHING SPECIAL.

AND @aixbt_agent PREDICTED $8K $ETH IN Q2.

I HAVE A PHOTO. pic.twitter.com/DA0QSrHM7Q