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Alejandro Arrieche
Author
Alejandro Arrieche
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The native token of the Virtuals protocol has surged by 151% in the past 30 days despite the overall weakness that the crypto market has faced during this same period.
Its novel value proposition is perhaps what has made it stand out from a growing crowd of decentralized finance (DeFi) protocols and meme coins as the project allows creators to monetize their AI agents through tokenization.
As a result of this latest surge, the market cap of $VIRTUAL has increased to $3.77 billion while trading volumes in the past 24 hours stand at $322 million.
$VIRTUAL is a utility token that allows users to create the AI chatbots by using the project’s proprietary platform. These agents have been primarily conceived for the entertainment, gaming, and ecommerce industry as they can interact with followers and fans via social media networks to boost engagement.
The Virtuals protocol aims to develop an ecosystem where the top AI agents can be monetized by their creators by sharing the revenue they produce with users who opt to rely on these pre-designed bots rather than building their own from scratch.
Some agents created with the Virtuals have already become valuable tokens by themselves. This is the case of Prefrontal Cortex Convo Agent and G.A.M.E. both of which boast market caps exceeding $100 million already.
As artificial intelligence continues to be rapidly and widely adopted by organizations and individuals to optimize processes, increase productivity, and other similar goals, the decentralized nature of the Virtuals platform could be an enticing feature that attracts users to its ecosystem.
Revenue-sharing is currently not possible with the majority of the platforms that offer the possibility of creating customized AI chatbots.
This is where Virtuals probably holds an edge. In addition, tokenization eliminates the need for an intermediary for billing and other purposes.
$VIRTUAL Shows Parabolic Formation that Could Result in a Spike in Volatility
The price of $VIRTUAL have increased so rapidly that it has formed a parabolic ascending price channel.
This price pattern is typically the result of significant short-term gains that are accompanied by significant upward and downward volatility.
The latest push from bulls has managed to propel $VIRTUAL above its $3.30 resistance and could push it near the $5 mark in the following days.
However, it is worth noting that the Relative Strength Index (RSI) is exhibiting a bearish divergence that could be interpreted as a signal of an upcoming pullback.
Bearish divergences occur when the price of the asset climbs to a higher high while the RSI line posts a lower high.
What this means in simple words is that the same level of momentum that the token experienced in a previous rally is now fading and that could result in buyers capitulating and sellers taking over the price action in short notice.
For now, the most relevant support level to watch would be the $3 mark as this is an important psychological and technical threshold that has served as both resistance and support in previous instances.
In addition, the RSI is coming off oversold levels, which means that market participants may be getting ready to take some profits after the most recent spike.
Just 24 Hours Left to Buy This Promising Layer-Two Solana Token in Presale
The Solaxy presale is still up and running and investors continue to pour thousands of dollars every day on its native token while it is available at such an attractive price.
This promising layer-two network for the Solana mainnet promises to alleviate congestion and reduce errors and delays to zero by using an innovative mechanism that bundles transactions offline safely and cheaply.
Solaxy responds to the significant pressure that the Solana network has been facing as meme coins have become more and more popular among investors.
Millions of the transactions involving these assets now need to be processed by the mainnet every day and this has put validators’ ability to keep up to the test.
The presale event for $SOLX has already raised $7.2 million from investors as the Solana community understands the potential for this protocol to become the next Arbitrum or Optimism of the Solana ecosystem.
At its current price of $0.001586, $SOLX offers an attractive opportunity for traders as it offers significant upside potential and little downside risk.
After this 24-hour period concludes, the token will be sold at a higher price. To buy $SOLX now, go to the Solaxy website and connect your wallet to convert USDT or ETH tokens. In addition, you can opt to use a bank card in case you don’t own any crypto at the moment.
$SOLX offers attractive staking rewards of 524% at the moment for holders who will be rewarded right after the token is listed.
Don’t wait any longer, the presale could end soon and this L2 token will not be available at this price once it moves to that stage.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
