VIRTUAL: Reasons for 73% Surge and Prospects

user avatar

by Giorgi Kostiuk

2 years ago

The cryptocurrency VIRTUAL made a significant leap, reaching $3.98. This sharp rise was due to several key factors, including new initiatives, token supply reduction, and overall market growth.

New Initiatives by VIRTUAL

The first major step for VIRTUAL was the announcement of an initiative aimed at supporting the development of AI projects on the platform. This includes sustainable rewards for ecosystem builders, funded by post-bonding taxes. The project seeks to boost interest in its ecosystem and attract new investors.

Buyback and Burn Program

The second significant aspect was the announcement of a buyback-and-burn program. This involves using trading revenue to permanently remove VIRTUAL tokens from circulation, creating deflationary pressure that can potentially increase their value.

Revenue Growth and Technical Analysis

Virtuals Protocol's revenues have increased substantially, indicating a rise in user numbers and transactions. Technical analysis shows the token remains above the 50-day and 100-day moving averages, suggesting bull dominance in the market.

VIRTUAL's growth is a result of comprehensive system changes and investor interest. Technical indicators align with economic news, creating a foundation for further short-term and long-term improvements.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

SoFi Introduces SOFIE Tokenized Deposit for Earning Interest

SoFi has launched a new tokenized deposit product named SOFIE, allowing consumers to earn interest on dollar balances while facilitating blockchain transfers.

user avatarJesper Sørensen

Chainlink and LG CNS Join Forces to Enhance Digital Asset Infrastructure in South Korea

Chainlink and LG CNS have announced a partnership to enhance oracle and crosschain infrastructure for South Korea's financial institutions.

user avatarRajesh Kumar

HSBC Introduces RedCoin for Consumer Payments

HSBC has launched RedCoin, a stablecoin backed by the Hong Kong dollar, for consumer payments through its PayMe app.

user avatarLucas Weissmann

CME Group Achieves Record Revenue and Trading Volume in Q3

CME Group reports a remarkable 13% increase in Q3 revenue, reaching $17.373 billion, with an average daily trading volume of 294 million contracts.

user avatarFilippo Romano

Zcash Investment Product Sees Significant Inflows

Demand for the Zcash investment product tracked under ticker ZCSH surged on October 21, marking a notable recovery after earlier withdrawals.

user avatarEmily Carter

BTCPay Server Documentation Guides Merchants on Payment Integration

BTCPay Server provides documentation for merchants on how to connect its payment system to WooCommerce, emphasizing the importance of maintaining all components.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.