The price of Virtuals Protocol increased by over 23,000% in 2024, becoming the best-performing altcoin in the crypto industry.
Virtuals Protocol (VIRTUAL) rose from its year-to-date low of $0.02234 in August to $3.4 on December 27.
This rally took place due to the growing hype surrounding artificial intelligence agents. AI agents are software tools that use AI to perform tasks for the end user.
Virtuals Protocol hopes to become the crypto industry’s largest decentralized AI agent network by allowing users to create these agents. Some of its top agents have reached multi-million market caps. For example, GAME has a market cap of over $304 million, while Prefrontal Cortex Convo Agent and Luna are valued at over $100 million.
Virtuals Protocol’s price performance mirrored that of other major players in the AI space such as NVIDIA, Palantir and Broadcom. All of these companies have become giants by focusing on AI solutions. NVIDIA and Broadcom are active in the semiconductor industry, while Palantir develops AI software solutions.
VIRTUAL has some potential catalysts in 2025. The most important is the growth of AI agents, which could attract more investors to its network. It will likely also be listed on other exchanges such as Binance and Coinbase. The majority of Virtuals trading volume takes place on exchanges such as Bybit, Bitget and Gate. A listing on other top Tier 1 exchanges would push it higher.
However, numerous risks remain. The AI industry and the hype surrounding it may slow down in 2025, impacting most assets. Additionally, there are fears that most AI assets are grossly overvalued.
