Virtuals Protocol (VIRTUAL) showcases price recovery, yet on-chain data indicates a high concentration of tokens in the hands of major investors.
Token Concentration in Whale Hands
In recent weeks, VIRTUAL has attracted attention from major investors, leading to a concentration of tokens in the hands of whales. On Solana blockchain data, approximately 93% of VIRTUAL tokens are held by the top 100 wallets.
Trading Dynamics and Buyer Interest
Currently, VIRTUAL trades near its upper range for the past month, with increased open interest in derivative markets and accumulation from whales. Recently, interest in VIRTUAL tokens has surged, pushing prices up to around $1.66.
History and Prospects of Virtuals Protocol
Virtuals Protocol raised $16.6 million across various funding rounds, including an IDO on Fjord Foundry. Despite the concentration of tokens among large investors, the project aims to grow and expand its capabilities in agent creation. Activity among tokens surged this past month, with active wallets reaching 10,000 daily.
Thus, VIRTUAL continues to attract investments and demonstrates a high degree of concentration in the hands of major players. This could impact the token's future dynamics and the development of the AI agent ecosystem.
