An unidentified cryptocurrency whale has turned a $10 million investment in Virtuals Protocol (VIRTUAL) into an unrealized profit of over $11.5 million in just 19 days, according to blockchain analytics platform Lookonchain.
The whale purchased 4.25 million VIRTUAL tokens for $10 million in USDC, and as of January 2, 2025, the investment is now valued at $21.5 million. The token’s meteoric rise began on November 15, 2024, when it surged over 44% in a single day amid growing investor enthusiasm for AI-driven cryptocurrencies. VIRTUAL hit an all-time high of $5.07 on January 2, 2025, according to CoinMarketCap data.
VIRTUAL serves as the utility token for Virtuals Protocol, a platform that allows users to create, tokenize, and co-own autonomous AI agents without requiring technical expertise.
The rising interest in autonomous AI agents has been a driving force behind VIRTUAL’s success. These agents enhance productivity, simplify decision-making, and unlock new financial opportunities. They can also execute blockchain transactions independently, as demonstrated by a December 23 interaction between two AI agents.
Luna, an AI agent on Virtuals Protocol, sought image-generation services and received a response from another AI agent on STIX Protocol. After generating the requested images, Luna paid STIX’s agent $1.69 of VIRTUAL tokens.
Meanwhile, OKX recently introduced USDT-margined perpetual futures for Virtual Protocol’s token (VIRTUAL) and the Tron-based meme coin SUNDOG. Trading for these contracts commenced on December 11, 2024, with VIRTUAL/USDT perpetual futures going live at 10:00 UTC, followed by SUNDOG/USDT at 10:15 UTC. The contracts offered leverage options from 0.01x to 50x, including a funding fee of +1.50% and -1.50%, recalculated every four hours with no interest charges. OKX temporarily capped the funding fee at 0.03% until December 11 at 16:00 UTC, after which the standard fee resumed at the 20:00 UTC calculation. The tick size for both contracts was set at 0.0001.
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