VIRTUAL Jumps 150% in a Week After Genesis Launch — Headed to $2.8?
Key Notes
- VIRTUAL is up 17% in the last 24 hours, currently trading at $1.47.
- The recent Genesis Launch has spiked demand for the Virtuals Protocol.
- A breakout from the January resistance trendline signals renewed bullish momentum for the token.
Virtuals Protocol
VIRTUAL
$1.48
24h volatility:
16.5%
Market cap:
$967.74 M
Vol. 24h:
$542.48 M
has recently exploded, posting a 150% rally in the past seven days. According to the data provided by CoinMarketCap, the token is now trading at $1.47, up by 17% in the past 24 hours.
The primary fuel behind this surge appears to be the debut of the Genesis Launch—a token distribution mechanism aimed at onboarding users, developers, and AI agents into the broader Virtuals ecosystem.
Genesis Launch operates on a point-based pledge system, allowing users to stake points (and VIRTUAL tokens) in exchange for a shot at 37.5% of the total token supply. It has a hard allocation cap per user and a commitment requirement of up to 566 VIRTUAL tokens per entry.
This launch has boosted on-chain activity and increased speculative buying in anticipation of higher valuations. Dune Analytics data reveals that the number of unique active wallets for Virtual Agents has risen 95% in just five days.
Despite the surge in price, on-chain revenue plummeted from over $1.5 million in January to under $50,000 in April. The most drastic decline has been within the Base Virtuals Protocol application, contributing almost nothing compared to $500,000 earlier this year.
However, the Sentiment AI agents remain active, autonomously generating over $420,000 in revenue.
VIRTUAL Price Outlook
On the daily VIRTUAL chart, price recently broke out of a major descending resistance line that had capped price movement since its all-time high of $5.07 in January.
VIRTUAL price chart | Source: TradingView
This breakout, confirmed last week, has driven prices up to the $1.46 horizontal resistance, now being tested as a potential new support.
The RSI sits deep in the overbought region, signaling a highly bullish but overheated market. Historically, such levels often lead to short-term corrections. If the 72nd largest cryptocurrency fails to hold current levels, it could see a retest of support at $1.00.
VIRTUAL price chart | Source: TradingView
Meanwhile, Bollinger Bands have significantly expanded, with price action riding the upper band. If VIRTUAL sustainably holds above $1.45, the next key resistance lies near $2.80, a possible 100% gain from current levels.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
