According to information from CoinGecko, the value of the Virtuals Protocol ecosystem has increased strongly by 28% in the past 24 hours, pushing the total market capitalization of the tokens on the Base Layer 2 to $1.9 billion.
The native token of Virtuals Protocol, VIRTUAL, is currently trading at $1.67, up 19% in the past 24 hours and 213% in the past week. This has helped the VIRTUAL price reach an ATH, entering the top 100 cryptocurrencies by market capitalization.
So what has driven this sudden surge in interest? It is the increasing demand for AI Agents - a system or computer program capable of performing automated tasks, learning, and making decisions based on the environment or data it receives. These Agents can understand, analyze, and interact with the world around them in a way that mimics human or living being behavior.
This growth reflects a strong transformative trend in the blockchain industry, as artificial intelligence solutions and cryptocurrencies are increasingly integrating and complementing each other. In the context of growing demand for AI-related tokens and AI ecosystems, Virtuals Protocol has emerged as one of the leaders, marking a notable success in this field.
Launched in January on Base, Coinbase's Ethereum Layer 2 scaling network, Virtuals Protocol provides a platform and marketplace for AI Agents in the gaming and entertainment sectors. Co-founded in 2021 by Jansen Teng, Weekee Tiew, and Wei Xiong under the name PathDAO, the project has been rebranded and relaunched as Virtuals Protocol. After conducting a token swap for PATH tokens in December, Virtuals Protocol has issued the VIRTUAL token. The project's goal is to create opportunities for as many people as possible to own and operate AI Agents, contributing to the development of artificial intelligence technology in the blockchain ecosystem.
Virtuals Protocol allows developers to build AI Agents with six core functionalities: posting on X, chatting on Telegram, live streaming, creating memes, "Sentient AI," and music composition. These Agents are compatible with platforms like Roblox, utilizing Virtuals Protocol's Generative Autonomous Multimodal Entities (GAME) tools.
Financially, the AI Agents in the Virtuals Protocol ecosystem can automate transactions without the need for owner intervention after deployment.
Other AI tokens in the Virtuals Protocol ecosystem have also experienced strong growth in the past week. Aixbt (AIXBT) price increased by 23.8% to $0.21, while Luna (LUNA) rose by 9.4% to $0.08. VaderAI (VADER) surged by 78.9% to $0.05. All of these tokens have more than doubled in price this week.
Alongside the blockchain, many leading AI names, such as OpenAI, Google, Anthropic, and Amazon Web Services, are at the forefront of AI Agent development. According to a report by Grand View Research, the AI Agent market was valued at $3.86 billion in 2023 and is expected to grow 45% by 2024.
Entrepreneur and venture capitalist Greg Isenberg shared:
"If I had to bet on one area right now, it would be AI Agents. This is a trillion-dollar market waiting to be unlocked."
So why the sudden surge of interest in AI Agents in the cryptocurrency space? Entrepreneur and investor Markus Jun explains that this increase is a natural progression in the blockchain industry, where markets operate continuously 24/7 without interruption.
"AI Agents in crypto are particularly meaningful because they can leverage on-chain data and crypto-native data at the protocol level, which traditional financial tools cannot," Jun shared. "Crypto is money on the internet, and the ability to send money to anyone on the network enables AI Agents to facilitate user transactions quickly and efficiently.
You can check the coin prices here.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
Join Telegram: https://t.me/tapchibitcoinvn
Twitter (X): https://twitter.com/tapchibtc_io
Tiktok: https://www.tiktok.com/@tapchibitcoin
Annie
According to Decrypt
