VIRTUAL, the native token of Virtuals Protocol, now ranks as a top 100 cryptocurrency

VIRTUAL, the native token of Virtuals Protocol, a platform for creating AI agents, is now a top 100 cryptocurrency following a 147% surge 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 raked in $120,292 on April 28 — the highest daily revenue since February 6, according to Dune.

Moreover, the rally 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.

“[We are] pleased to announce the listing of VIRTUAL/USDT in the Futures market. The Futures market provides traders with the opportunity to speculate on the price movement of an asset without actually owning the underlying asset. This can be a useful strategy for traders who are bullish or bearish on an asset in the short term. Traders can also use futures to hedge their existing crypto portfolio against market risk.

Those who prefer to trade in the spot market can now buy, sell, and hold VIRTUAL in the Standard pairs: VIRTUAL/USDT, VIRTUAL/USD. Enjoy seamless trading on Binance.US,” the exchange wrote in a blog post.

VIRTUAL leads sector-wide stir among AI agents

Virtuals Protocol isn’t the only AI agent project mounting a comeback, with AI16Z (ElizaOS) also rallying 119% over the last week.

Similarly, the project, which saw its token price surge to a record high of $26 in January, dropped to a low of $12.6 on April 7. The project’s AI agents currently manage more than $20 million worth of assets on behalf of investors.

Meanwhile, Goatseus Maximus (GOAT), a token inspired by the Truth Terminal AI agent, is up 56.4% in seven days. GOAT hit the headlines in November when it became the first token linked to an AI agent to break above the $1 billion market cap threshold. The token’s market cap is now $86.3 million, a 228% increase from $36.3 million on April 7.

Another Truth Terminal-linked token, Fartcoin, has been making a strong and steady recovery since bottoming out on March 11. The token’s market cap currently stands at $1.09 billion, indicating a nearly 400% gain over four weeks.