- VIRTUAL is emerging as a strong contender against altcoins and meme tokens
- Altcoin may be quickly positioning it at the forefront of investor portfolios
As a seasoned researcher with over a decade of experience in the ever-evolving world of cryptocurrencies, I find myself continually astounded by the rapid transformations taking place within this dynamic landscape. The meteoric rise of Virtuals Protocol [VIRTUAL] is undeniably one such transformation that has caught my attention.
In just two months short of its first year, Virtuals Protocol (VIRTUAL) has soared from its initial coin offering price of $0.04977 to an impressive $2.56. Over the past 30 days, VIRTUAL has experienced a massive increase of nearly 500%, propelling it to the forefront of the top performers, even surpassing many prominent industry leaders.
In a volatile market, lesser-known investments such as VIRTUAL seem to be proving resilient, fueled by the “Trump effect”. This rapid expansion suggests significant promise, but could it possibly indicate a change in market dynamics?
Is it possible that digital currencies such as VIRTUAL are becoming more acceptable as “secure” investment choices for individuals seeking stability amidst market unpredictability?
A new era for crypto investment is just around the corner
As a researcher, I can’t help but notice the remarkable surge in popularity that AI-based tokens have experienced this year, a trend that is undeniably hard to overlook. Among these digital assets, one standout development is the significant flow of investment away from Bitcoin and into NEAR, a token with a strong focus on artificial intelligence.
It’s evident that this change occurs in the daily graph. After hitting its record high (ATH), Bitcoin experienced a dip, which suggests investors may be worried about an overly heated market. This concern led to a significant influx of funds moving towards NEAR.
As a result, there was approximately a 10% increase each day, followed by four straight upward price movements that caused the token to surpass $7 for the first time since March.
Surprisingly, it was VIRTUAL that broke through the $1 barrier within a week’s time, fueled by a consistent 30% growth each day.
As an analyst, I’m observing that AI-based tokens might not always mirror the trajectory of tech stocks. Instead, they seem to be creating their unique space, potentially serving as a protective measure, or a “hedge,” amidst an escalating market volatility and growing risks.
For meme-based tokens, this could be a red flag. Their inherent volatility has sparked negative sentiment among retail buyers, especially as investors increasingly seek stability in these unpredictable times.
Simultaneously, some leading altcoins are showing signs of increased centralization, as a limited number of investors accumulate a substantial amount of the coins. This trend has sparked worries over potential price manipulation.
Amidst the changing investment climate, it appears that artificial intelligence (AI) based tokens, whether low or high-capitalization, are becoming increasingly attractive as a dependable and lucrative option. They present an appealing choice for investors seeking diversity in their portfolio, offering a secure place to invest.
So, should you invest in VIRTUAL?
To ensure sustainable development over time, investors usually look for several essential elements. Topping the list is a robust foundation, which can be reinforced by a mix of internal and external influences.
Inside VIRTUAL, there’s been an increase in the collection of tokens, not just by big investors (whales), but also by regular ones (retail investors). This accumulation has given the token enough power to overcome two significant barriers of resistance, resulting in its price rise.
It’s particularly noteworthy that the Open Interest (OI) in its perpetual market has experienced a significant rise, recently reaching an impressive $111 million. This surge coincided with VIRTUAL setting a new record high of $3.29 on December 16th – a feat that even XRP has found challenging to replicate.
Source : Coinglass
Moving forward, it’s possible that VIRTUAL could see even more significant growth in the upcoming year. The surge in its trading activity, coupled with expanding external factors such as heightened volatility among meme coins and altcoins, makes AI-backed tokens like VIRTUAL an appealing choice for investors.
Read Virtual Protocol [VIRTUAL] Price Prediction 2024-2025
Given the fluctuating nature of Bitcoin’s value, more and more investors are finding it strategically sound and rational to hold onto their Bitcoins (HODL) or invest in such tokens.
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2024-12-20 12:08