An Ethereum whale has sold his Ether holdings to buy Virtuals Protocol tokens. That is according to data shared by Lookonchain on December 2, 2024. The big investor withdrew 575 ETH ($2.07 million) from Binance and used the amount to buy 1.54 million VIRTUAL tokens ($2 million) in a single transaction.
Whales are the big players in the world of cryptocurrency. They hold huge amounts of tokens, and their buying or selling decisions typically influence broader investor sentiment. The purchase indicates a potential market shift as crypto investors showing more interest in VIRTUAL, optimistic by its growth potential.
Ether whales on buying frenzy
The whale’s action signals that big investors have started to recoup profit on their Ether holdings. The liquidations by these major holders come amidst an impressive spike in the Ether price. The second-largest virtual currency rose 2.60% in the last seven days and soared from $2515.8 (30 days ago) to the current price of $3,588.36. The surge has been bolstered by a wider rally in the market following Trump’s presidential victory.
Large holders’ interest is up as on-chain data shows a significant increase in whales’ activity. Currently, Ether’s whale netflow has risen to 80,130 ETH today December 2 from 28,680 ETH on November 29. Netflow is the difference between tokens purchased and sold by these big investors. Most big holders now focus on profit-taking and a potential shift from selling to holding and even buying other altcoins.
Why VIRTUAL is gaining popularity?
Virtuals Protocol (VIRTUAL) currently indicates a robust price rally signaling rising investor interest and a bullish trend in the market. Its value rose 121.30% in the last seven days, meaning VIRTUAL is outperforming the global crypto market which is currently up 4.00%.
Its market cap is hovering at around $1.31 billion, reflecting that the AI token is seeing increased performance and popularity. This surge comes after several exchanges (including KuCoin, Bitget, Bybit, and Bitbumb) listed the token recently.
VIRTUAL is the native crypto asset of the Virtuals Protocol, a decentralized network that allows users to create and monetize AI agents for various virtual interactions, like online, metaverses, and gaming engagements.
The increasing adoption of VIRTUAL means the broader AI tokens continue to become a hot topic in the digital asset world. Some of the popular AI tokens include Goatseus Maximus (GOAT) and The AI Prophecy (ACT). The prices of these assets recently soared by over 1000% in the previous few weeks, particularly after their listings on the Binance.
