Virtuals Protocol is experiencing significant revenue declines while the price of the VIRTUAL token remains pressured, approaching the oversold territory.
Revenue Decline of Virtuals Protocol
According to Blockworks Research, Virtuals Protocol has been generating less than $500 per day in revenue from launch and swap fees for most of late March and early April. In early January, revenue ranged from $200K to $350K per day, but a steady decline began in mid-January. By the end of January, revenue had dipped below $100K per day, and by late February, it fell below $10K. This represents a 99% drop from the $500K peak achieved on January 2.
VIRTUAL Token Price Trends
Currently, the VIRTUAL token trades at $0.45, down 91% from its all-time high. The token price has been on a sustained downtrend, crossing below key moving averages which has strengthened the bearish momentum. The current technical situation shows the MACD line remains below the signal line, with the Relative Strength Index at 31.06, close to the oversold threshold.
Positioning in the AI Agent Sector
Despite the revenue and price declines, Virtuals Protocol ranks sixth among the most discussed projects in the AI agent sector, holding a 2.19% share, according to cookie.fun.
The sharp decline in revenue and the drop in the price of the VIRTUAL token raise questions about the future prospects of Virtuals Protocol, yet the project maintains a significant position in the AI agent market.
