A significant cryptocurrency whale has made a substantial profit from an investment in the Virtuals Protocol (VIRTUAL) token, which serves as the utility token for the artificial intelligence agent launch platform.
The Purchase and Unrealized Profit
According to the on-chain intelligence platform Lookonchain, the unknown crypto whale bought over $10 million worth of VIRTUAL tokens 19 days ago. This purchase has generated more than $11.5 million worth of unrealized profit, as the token’s value has increased significantly since then.
A Whale Spent $10M to Buy 4.25M $VIRTUAL 19 Days Ago
The following is an excerpt from Lookonchain’s post on X:
‘A whale spent 10M $USDC to buy 4.25M $VIRTUAL 19 days ago, which is now worth $21.5M, with an unrealized profit of $11.5M.’
Virtuals Protocol: AI Agent Launch Platform
The Virtuals Protocol enables users to create, tokenize and co-own autonomous AI agents without the need for coding and software development skills. This platform has gained significant attention in recent times due to its innovative approach to AI-based cryptocurrencies.
Features of Virtuals Protocol:
- Utility Token: VIRTUAL is the utility token of the Virtuals Protocol.
- AI Agent Launch Platform: The platform enables users to create, tokenize and co-own autonomous AI agents.
- No Coding Required: Users do not require coding or software development skills to use the platform.
Rise in Value: VIRTUAL Token
The VIRTUAL token has seen a significant rise in value since its launch. On November 15, the token rose over 44% within a day, riding on the growing investor excitement around AI-based cryptocurrencies. The token reached an all-time high of $5.07 on January 2, according to CoinMarketCap data.
1-Day Chart for VIRTUAL/USDT:
The rise in value can be attributed to the increasing interest in AI-based cryptocurrencies and the potential applications of Virtuals Protocol.
AI Agents: Autonomous Transactions on Blockchain
AI agents are making autonomous transactions on the blockchain without direct human input. This concept has gained attention due to its promise of increasing online productivity, streamlining decision-making processes, and creating new financial opportunities.
Autonomous Transactions by AI Agents:
- Luna: An AI agent on Virtuals Protocol sought image-generation services on December 16.
- STIX Protocol: Another autonomous AI agent responded with the generated images.
- Payment to STIX Protocol: Luna paid $1.77 worth of VIRTUAL tokens to STIX Protocol for the generated images.
Emerging Field of AI Cryptocurrencies
Industry watchers foresee a year of significant upside for the emerging field of AI cryptocurrencies. The growing interest in AI-based cryptocurrencies is expected to drive growth in 2025.
Expert Opinion:
Alvin Kan, chief operating officer of Bitget Wallet, told Cointelegraph:
‘Emerging narratives like AI-driven investments, decentralized AI agents and tokenized assets hint at a tech-driven shift, though with added risk.’
Market Cap: AI-Based Cryptocurrencies
The market cap of AI-based cryptocurrencies has seen a decline in the last month of 2024. The cumulative value of these tokens fell by almost one-third as their market cap dropped over 28% from the $70 billion peak in December.
Key Statistics:
- Market Cap: $70 billion (peak)
- Decline in Value: 28%
- Cumulative Value: Almost one-third decline