"200% Surge in a Month"... Virtual Protocol Soars with Token Launchpad

Virtual Protocol (VIRTUAL), one of the cryptocurrencies that recorded the largest decline during the recent bear market, has successfully rebounded.

As of 7:23 AM on the 19th (KST), Virtual Protocol is trading at $1.92, up 15.61% from the previous day. Its market capitalization is currently $1.25 billion (approximately 1.75 trillion KRW), ranking 65th in the total cryptocurrency market capitalization.

The rise of Virtual Protocol began last month. Since the end of last year to the beginning of this year, Virtual Protocol recorded a steep rise as the narrative of artificial intelligence (AI) agents strengthened, reaching an all-time high of $4.5 on January 2. However, the emergence of indiscriminate AI agents and a series of unfortunate incidents related to meme coins caused investor sentiment to weaken sharply, and by April, it had fallen about 90% from its peak to $0.45.

However, the situation changed rapidly. Virtual Protocol, which barely defended the $0.5 level in April, began to rise from April 21. The token price, which was $0.572 on the 21st, exceeded $1 a week later on the 28th, and in May, it reached $1.90, nearing the $2 mark.

Analysts attribute the surge of Virtual Protocol to the Genesis Launchpad, which was launched last month. The Genesis Launchpad, released on April 17, is a "proof of contribution" program that allows participants to accumulate contribution scores through activities such as staking or AI projects.

With the launch of the Genesis Launchpad, many cryptocurrency investors flocked to Virtual Protocol to earn airdrops and points, which is believed to have significantly boosted the token price.