Virtuals Protocol, a top AI agent generator, has performed well in recent weeks, surging over 350% from its lowest point in April.
Virtuals Protocol (VIRTUAL) price was trading at $1.9400 on Tuesday, May 20, giving it a market cap of over $1.25 billion.
The token has several catalysts that may help push it to a record high in the ongoing bull run. The first is that analysts anticipate the AI agent industry will continue growing in the coming years.
A study by BCG estimates that the market size for AI agents will grow from $5.7 billion in 2024 to $52.1 billion by 2030, representing a 45% compounded annual growth rate. The report notes that complex disciplines like software development, customer service, and business analytics will be most impacted.
Microsoft, the world’s largest company by market cap, stated on Monday that we are now in the age of AI agents, unveiling new tools for agentic web advances in Azure Foundry. As a result, Virtuals Protocol may benefit from this macro theme as investors continue piling into AI tokens.
There are also signs that AI agents on Virtuals Protocol are gaining traction. Aixbt price jumped by 6% on Tuesday, giving it a fully diluted valuation of over $180 million.
Similarly, the AVA token jumped 12%, reaching a valuation of $60 million. Ribbita, GAME, VaderAI, and Luna are each valued at over $15 million.
A short-term risk for VIRTUAL is the potential for profit-taking after its 350% rally since April. Nansen data shows that 15.64 million tokens are now held on exchanges, up 22.67% from a week earlier.
VIRTUAL price technical analysis
The eight-hour chart shows that VIRTUAL has been in an uptrend over the past few weeks, climbing from a low of $0.4165 in April to $2.20 this month.
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Author: Crispus Nyaga
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