經過13.95％的下降，虛擬協議（虛擬）已成為加密貨幣市場的關注焦點

虛擬協議（虛擬）在短短24小時內下降了13.95％，在主要數字資產中造成了損失，已成為加密貨幣市場的關注中心。

Cryptocurrency behemoths, or "whales," now control an astounding 93% of the total VIRTUAL (VIRTUAL) token supply, according to blockchain analytics firm Nansen. This staggering level of ownership has reached unprecedented levels, with just 100 addresses holding the vast majority of the altcoin.

根據區塊鏈分析公司Nansen的說法，加密貨幣龐然大物或“鯨魚”現在控制著驚人的93％的虛擬（虛擬）令牌供應。這個驚人的所有權水平達到了前所未有的水平，只有100個地址擁有絕大多數Altcoin。

While such consolidation can sometimes be a sign of confidence in the asset, it also presents a significant vulnerability. With a handful of wallets controlling most of the supply, even modest selloffs from these large holders could trigger steeper declines than usual.

儘管這種合併有時可能是對資產信心的跡象，但它也帶來了一個重大的脆弱性。借助少數錢包來控制大部分供應，即使是這些大型持有人的適度拋售也可能會觸發比平常更陡峭的下降。

This risk is especially pertinent in highly speculative markets like crypto, which is already characterized by volatility, low liquidity in some instances, and the presence of leveraged positions that can amplify price swings.

這種風險在高度投機的市場（例如加密貨幣）中尤其相關，加密貨幣的特徵是波動性，在某些情況下流動性低以及可以放大價格波動的槓杆位置的存在。

Adding to the concerns, the same whale wallets are reported to be in profit over the past 24 hours, as "smart money" wallets—known for their calculated and often profitable moves—are showing 14.35% gains during the downturn.

據報導，在過去的24小時內據報導，相同的鯨魚錢包是有利可圖的，因為“智能貨幣”錢包（以其計算出的且經常有利可圖的舉動而聞名），在低迷時期顯示了14.35％的收益。

If these large holders decide to lock in profits by selling, the ensuing flood of supply could intensify the downward momentum, potentially overwhelming the already fragile market.

如果這些大型持有人決定通過銷售鎖定利潤，那麼隨之而來的供應氾濫可能會增強下降勢頭，並有可能壓倒已經脆弱的市場。

However, despite this bleak technical backdrop, spot traders are displaying surprising resilience. In a surprising turn, retail investors appear to be buying the dip.

但是，儘管技術背景黯淡，但現貨交易者仍表現出令人驚訝的彈性。令人驚訝的是，散戶投資者似乎正在購買蘸醬。

Data from CoinGlass reveals that $1.42 million worth of VIRTUAL was purchased on spot markets in the last 24 hours, and over the past week, total spot accumulation has reached $10.8 million. This ongoing buying streak suggests a disconnect between whale behavior and retail sentiment, as smaller investors bet on a reversal or see long-term value in VIRTUAL.

Coinglass的數據顯示，過去24小時內在現貨市場上購買了價值142萬美元的虛擬，並且在過去一周中，總現貨累積已達到10080萬美元。這種持續的購買條紋表明鯨魚行為與零售情緒之間存在脫節，因為較小的投資者下注逆轉或虛擬的長期價值。

Yet, such optimism may be premature. From a technical standpoint, VIRTUAL continues to shows signs of weakness. The altcoin recently fell through two key support levels—the first at $1.62, then at $1.46. These breaches signal increasing selling pressure and open the door to further losses. Should this trend persist, analysts expect the next support levels to emerge around $1.27 and, if broken, potentially $1.064—a level that could mark a new local low.

然而，這種樂觀可能為時過早。從技術的角度來看，虛擬繼續顯示弱點的跡象。 Altcoin最近通過兩個關鍵支持水平下降了，第一筆$ 1.62，然後是1.46美元。這些漏洞信號增加了銷售壓力，並為進一步的損失打開了大門。如果這種趨勢持續下去，分析師預計下一個支持水平將出現在1.27美元左右，如果破損，可能是1.064美元，這一水平可能標誌著新的本地低點。

Momentum indicators provide little comfort either. The Relative Strength Index (RSI), a widely used metric to gauge whether an asset is overbought or oversold, currently stands at 35.60. Although still above the critical 30 mark, which denotes oversold conditions, the downtrend in RSI suggests that selling momentum remains strong. If the RSI dips below 30, a technical bounce could follow—but such recoveries are often short-lived without broader fundamental support.

動量指標也幾乎沒有舒適感。相對強度指數（RSI）是一種廣泛使用的度量，用於衡量資產是否過多或超額售出，目前為35.60。儘管仍然超過30大關，這表示過多的條件，但RSI的下降表明銷售勢頭仍然很強。如果RSI下降到30以下，則可能會進行技術反彈，但是這種回收通常是短暫的，而沒有更廣泛的基本支持。

The underlying risk is clear: As retail traders accumulate VIRTUAL, their impact is likely limited compared to whales. If large holders decide to exit en masse, smaller traders will struggle to absorb the selling pressure, potentially leading to rapid price declines.

潛在的風險很明顯：隨著零售交易者積累虛擬的累積，與鯨魚相比，其影響可能受到限制。如果大型持有人決定大批退出，那麼較小的商人將難以吸收銷售壓力，這可能會導致價格迅速下降。

Additionally, the recent decline in price has not yet triggered significant panic among whales, but that could change quickly in response to market volatility or negative sentiment.

此外，最近的價格下跌尚未引起鯨魚之間的嚴重恐慌，但是由於市場波動或負面情緒，這種恐慌可能會迅速改變。

What complicates the outlook even further is the current macro backdrop. With markets overall leaning risk-off due to economic uncertainty and regulatory scrutiny, smaller altcoins like VIRTUAL are especially vulnerable to sudden shifts in investor risk appetite.

目前的宏觀背景使前景更加複雜。由於經濟不確定性和監管審查，市場總體上傾向於風險，諸如Virtual之類的較小的高級幣尤其容易受到投資者風險食慾突然轉變的影響。

In such an environment, tokens like VIRTUAL, already largely dominated by whale wallets, can see disproportionate moves both up and down, depending on the trading actions of a few key players. This makes it nearly impossible for smaller traders to predict market direction or capitalize on trends.

在這樣的環境中，像虛擬這樣的代幣已經在很大程度上以鯨魚錢包為主導，可以看到不成比例的移動在上下移動，具體取決於一些關鍵參與者的交易行動。這使小型交易者幾乎不可能預測市場方向或利用趨勢。

In conclusion, while VIRTUAL is seeing short-term buying interest from retail investors, the overwhelming concentration of supply in the hands of a few whales poses a serious systemic risk.

總之，儘管Virtual正在從散戶投資者那裡看到短期購買權益，但幾隻鯨魚手中的壓倒性供應集中卻帶來了嚴重的系統性風險。

Unless the distribution of holdings becomes more balanced or a new wave of institutional interest returns to absorb the selling pressure, the token remains highly susceptible to manipulation and sudden price drops. Technical indicators suggest further downside potential, and only a clear reversal in whale behavior or stronger fundamental demand can alter VIRTUAL’s current bearish trajectory.

除非持股的分配變得更加平衡，否則機構利益的新一波收益率會吸收銷售壓力，否則令牌仍然很容易受到操縱和突然價格下跌的影響。技術指標提出了進一步的下行潛力，並且只有明顯的鯨魚行為或更強大的基本需求可以改變Virtual當前的看跌軌跡。