VIRTUAL, the native token of Virtuals Protocol, now ranks as a top 100 cryptocurrency after surging 147% over the past week.

VIRTUAL, the native token of Virtuals Protocol, a platform for creating AI agents, is now a top 100 cryptocurrency after surging 147% over the past week.

The token now boasts a market cap of nearly $938.3 million, ranking as the 94th-largest crypto asset. The milestone marks the first time VIRTUAL has ranked among the top 100 crypto assets by market cap in eight weeks.

VIRTUAL suffered a violent sell-off after posting a record-high market cap of $4.61 billion on January 2, ranking 32nd among crypto assets at the time. However, the token tumbled 94% to post a local low of $285 million on April 7.

Despite the brutal downtrend, VIRTUAL has since bounced back with a strong rally. The token’s price is up 234.5% from the local low, last changing hands for $1.46.

The move coincides with an uptick in the revenue generated by Virtuals AI agents, which racked in $120,292 on April 28 — the highest daily revenue since February 6, according to Dune.

Rally follows new fee structure, Binance.US listing

The stellar move follows the project unveiling a new fee structure on March 29, with agent creators now receiving 70% of protocol trading fees.

Binance.US also launched trading for the token on April 29.

Earlier this year, Virtuals Protocol announced plans to launch its own decentralized exchange (DEX） to be powered by its AI agents. The exchange will focus on facilitating the trading of tokens used to fund AI agents.

In addition to collecting trading fees, Virtuals Protocol also generates revenue from a portion of the tokens sold when agents are deployed. A 20% service fee is charged on each token sale, with 70% going to the agent creator and 10% going to the protocol.

Virtuals Protocol is a platform that allows users to create their own AI agents, which can be used for a variety of purposes, such as trading cryptocurrencies, providing customer service, or generating content. The agents are powered by large language models (LLMs) and are able to learn and adapt over time.

The platform’s token, VIRTUAL, is used to pay for services on the platform, such as creating and deploying agents, and also serves as a governance token, giving holders the right to vote on proposals for changes to the protocol.

Earlier this year, Virtuals Protocol announced plans to launch its own decentralized exchange (DEX） to be integrated with its AI agents. The exchange will focus on facilitating the trading of tokens used to fund AI agents.

After a stellar start to the year, major cryptocurrency markets have sold off sharply in recent weeks as the bulls take a step back from the outstanding levels attained at the beginning of 2024. This move has seen several tokens fall to crucial support levels, with some traders becoming worried about the potential for further weakness.

However, despite the broader crypto market downturn, several AI tokens have continued to rally throughout April. These tokens are now nearing the highs last seen in early January, before the market downturn.

Virtuals Protocol (VIRTUAL) is one of the best-performing tokens in April, and the token's performance has been nothing short of stellar. The token is now ranked in the top 90 largest cryptocurrencies.

The superb move in VIRTUAL comes after the project announced a new fee structure, which will see agent creators receive 70% of protocol trading fees.

This new fee structure is designed to be more favorable to agent creators, and it is hoped that it will encourage more people to create and maintain agents.

Moreover, the move comes after Binance.US listed the token on April 29. The listing on a major U.S. exchange could open up the token to a whole new class of investors.

What's more, the stellar performance of VIRTUAL coincides with an uptick in the revenue generated by Virtuals AI agents.

According to data from Dune, Virtuals AI agents generated $120,292 in revenue on April 28, the highest daily revenue total since February 6.

The move sees the token recover from a brutal sell-off. After posting a record-high market cap of $4.61 billion on January 2, ranking 32nd among crypto assets at the time, VIRTUAL suffered a violent sell-off.

The token tumbled 94% to post a local low of $285 million on April 7.

However, the token has since bounced back with a strong rally. The token's price is up 234.5% from the local low, last changing hands for $1.46 at the time of writing.

At the beginning of the year, a large