South Korea’s largest cryptocurrency exchange, Upbit, has officially added trading support for the Virtuals Protocol (VIRTUAL) token.
The exchange confirmed in a recent announcement that VIRTUAL would go live for trading on its platform at 8:00 PM KST on January 31. The token will be available in pairs with the Korean won (KRW), Bitcoin (BTC), and Tether (USDT).
Following the announcement, VIRTUAL surged from $2.04 to $2.40, reflecting a 20% increase. However, after its official launch, the token saw a slight retraction and is currently trading at around $2.30.
According to data from CoinMarketCap, Virtuals Protocol currently holds a market capitalization of $1.5 billion, with a fully diluted valuation reaching $2.3 billion. The trading volume has skyrocketed by approximately 130% in the past 24 hours, exceeding $500 million.
Upbit also revealed that VIRTUAL’s initial trading price on its platform would range between 2,971 KRW ($2.04) and 2,984 KRW ($2.05). To manage market volatility, buy orders were restricted for the first five minutes after trading commenced, while all order types—except limit orders—were limited for the first hour.
Virtuals Protocol is a blockchain-based platform specializing in AI agents within the gaming and entertainment industries. The network enables users to co-own AI agents through tokenization, introducing a unique co-ownership model. Some of its most well-known AI agents include G.A.M.E, Prefrontal Cortex Convo Agent, and Luna.
Meanwhile, Virtual Protocol recently pledged to reinstate its bug bounty program after addressing a critical vulnerability flagged by pseudonymous security researcher Jinu. The flaw, discovered on Dec. 3, 2024, could have severely disrupted the creation of AgentTokens, a key component of the Protocol’s ecosystem.
Jinu highlighted the severity of the issue, stating that if exploited, the bug would have prevented the generation of AgentTokens until the contract was patched. While Virtuals Protocol promptly fixed the vulnerability upon discovery, the researcher raised concerns over the platform’s security commitment.
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