Crypto AI agent platform Virtuals Protocol hits $1.4 billion market cap

Virtuals Protocol’s AI agents boost Base adoption with $1.4 billion market cap and 150% token surge.

Photo: Virtuals Protocol

Key Takeaways

• Virtuals Protocol's native token has reached a $1.4 billion market cap due to the high demand for AI agents.
• Base blockchain's TVL reached $3.5 billion, overtaking Arbitrum as the largest Ethereum Layer 2.

Virtuals Protocol, an AI agent deployment ecosystem, has reached a peak market cap of $1.4 billion as the AI agent narrative expands beyond Solana and extends to Base.

The platform’s native token, VIRTUAL, has surged 150% in value over the past week, driven by growing demand within the ecosystem.

Base, the underlying blockchain for Virtuals Protocol, has also seen a surge in activity, with its total value locked (TVL) reaching an all-time high of $3.5 billion, surpasing Arbitrum, and weekly transactions climbing to nearly 54 million.

Deployed on Base, Virtuals Protocol enables users to create and deploy AI-powered virtual characters using a similar system to pump.fun.

Users can create an agent by purchasing 10 VIRTUAL tokens, which are deployed on a bonding curve.

When the agent’s token reaches a market cap of approximately $503,000, a liquidity pool is automatically created on Uniswap, paired with the VIRTUAL token.

At this stage, the agent transitions into a fully autonomous entity capable of managing a Twitter account, with $44.9k of liquidity deposited into Uniswap and permanently burned to support the ecosystem’s stability.

Virtuals Protocol’s popularity is evident in the success of its AI agents and their underlying tokens.

AIXBT, an agent providing market insights to its 43,000 followers on X, saw its associated token reach a peak market cap of $200 million, though it has since slightly retraced to $196 million.

VaderAI, another Virtuals’ Protocol agent, hit $50 million in market cap for its token after a 200% gain in the last 24 hours, driven by its focus on autonomously engaging with the crypto community through tweets and interactions.

Meanwhile, LUNA, an AI agent influencer, saw its token hit a peak market cap of $100 million

The rise of Virtuals Protocol has coincided with a surge in activity on Base, which has now become the largest Ethereum Layer 2 network.

The Phantom wallet’s recent integration with Base has also contributed to this growth, providing retail users with easier access to the ecosystem and driving interest in Virtuals Protocol.