VIRTUALS Surpasses BTC and Major Cryptocurrencies as Institutions Invest in Base-Native Protocols

VIRTUAL, the cryptocurrency associated with the Virtuals Protocol on Base, has significantly outshined other major cryptocurrencies like Bitcoin (BTC) during the last month.

This surge has seen a notable increase in interest from institutional investors and savvy traders, as indicated by data from on-chain analytics.

In just 30 days, VIRTUAL soared 207% to a valuation of $1.66, marking it as the top performer among the 100 largest tokens by market cap, with a further rise of 11% in the last week. In comparison, Bitcoin has only increased by 13% in the past four weeks, remaining stable over the last week.

VIRTUAL has also emerged as the most traded token among institutional investors, identified by analytics platforms as belonging to major funds and wealthy individuals.

This token has witnessed inbound investments from smart money totaling $14.2 million over the last month and $8.56 million just within the past week. Other tokens like EBTC, LINK, and PEPE are also popular among these investors.

The accompanying table highlights the leading tokens that smart wallets are buying or selling on decentralized exchanges, as well as transactions made with centralized exchanges. Nansen’s data indicates buying activities in green and selling in red.

The recent spike in VIRTUAL’s popularity can likely be attributed to the recent launch of the Genesis launchpad, which debuted two weeks ago. This new system rewards genuine contributors through a unique “proof of contribution” points mechanism, where users can earn Virgen points via staking or engaging in AI projects.

According to reports, most tokens launched through the Genesis launchpad have doubled in value since their introduction, indicating strong demand for Virgen Points and highlighting ongoing innovation within token design.

Distinct features of this new system comprise allocations based on contributions, automatic refunds for unmet goals, and clear vesting timelines.

Comments from observers highlight that Genesis revitalizes the Virtuals ecosystem while introducing a fresh approach to token launches, asserting that its contribution-based methodology competes with existing, less sophisticated approaches that are often susceptible to manipulation.