blockchainreporter.net
Today, a smart investor entered the Virtuals Protocol ($VIRTUAL) market with a massive purchase of $VIRTUAL tokens during a recent market dip. This move has grabbed substantial interest and scrutiny within the crypto community.
Whale buys 4.88 million $VIRTUAL tokens
According to data from Onchain Lens, a crypto whale spent $9.86 million $USDT and $DAI to purchase 4.88 million $VIRTUAL tokens at an average price of $2 million.
In the past 48 hours, a whale has spent $9.86M $USDT and $DAI to buy 4.88M $VIRTUAL at an average price of $2 on the @ethereum Network.
— Onchain Lens (@OnchainLens) January 29, 2025
Address: 0x56079469d9d012255e9d47ab063c96f7835059df pic.twitter.com/zqxXuLh36L
The trader’s acquisition happened when $VIRTUAL is currently experiencing a significant market correction. The trader seems to have capitalized on the asset’s recent dip with the growing demand for decentralized AI agents.
The whale’s activity signals increasing confidence in $VIRTUAL’s long-term potential. While the asset’s price has declined by 33.00% over the last week to $1.97, this hasn’t encouraged whales from purchasing.
$VIRTUAL price updates
Virtuals Protocol prices have been on a market consolidation for the past month. However, the asset’s pullback coincided with the latest wider sell-off in the global crypto market early this week.
On Monday, the broader market experienced significant declines amid concerns that the low-cost Chinese DeepSeek AI could undermine the high valuations of AI stocks like Nvidia. As a result, investor sentiments turned negative after major stocks and cryptocurrencies plunged their values.
$VIRTUAL is currently down 42.6% from its high of $5.07 climbed early this month. While its value is currently trading at $1.97, down 0.3% in the past 24 hours, it has been down 33.00% in the last seven days.
However, these low prices indirectly created a buying opportunity for traders. Smart investors are aware that now is the right time to accumulate $VIRTUAL tokens for potential price rises in the future.
Despite the recent declines, $VIRTUAL remains a major participant in the cryptocurrency market, especially in the rapidly expanding AI agent sector. The AI industry is primed to continue experiencing explosive rallies, which is a good thing for Virtuals Protocol – a blockchain-driven AI agent network. Analysts expect the AI agent sector to grow from the $5.29 billion market valuation reached in 2024 to $216 billion by 2035.