Binance's endorsement propels altcoin by 30% - discover the events unfolding

Binance's endorsement propels altcoin by 30% - discover the events unfolding

VIRTUAL's Resurgence:

The Virtuals Protocol (VIRTUAL) soared beyond expectations after securing a coveted spot on Binance US, pushing its price targets between $2 and $5.

Riding the Crypto Waves

Over the past 24 hours, the cryptocurrency landscape has been relatively uneventful, with most major coins holding steady or petty dipping. But one underrated altcoin that bucked the trend is none other than Virtuals Protocol (VIRTUAL).

Within a blink of an eye, its value rocketed above $1.50 - a figure not hit since late February. Despite a slight dip, it now hovers at $1.45, translating to a whopping 15% leap. And the cherry on top? Its market capitalization flirted with the $1 billion mark, placing VIRTUAL among the top 100 cryptos.

Credit for the asset's aggressive rally goes to none other than Binance.US, the American branch of the world's biggest crypto exchange. They welcomed VIRTUAL by opening up deposits and introducing the VIRTUAL/USDT trading pair.

Listing a coin on a major exchange typically sets off a domino effect. It enhances accessibility, beefs up credibility, and bolsters liquidity. And it seems VIRTUAL is no exception. To delve deeper into how another coin, Deep Book, responded to Binance's backing, check out our article here.

Ever since its inception earlier this year, Virtuals Protocol sparked controversy. In April, they launched the Genesis Launch – a token distribution system for AI agents in their ecosystem. But shortly after, a project called PlayGameAI took advantage of loopholes and deceived users, stirring up a trust issue.

Virtuals Protocol addressed these concerns, promising to compensate affected token holders. They reported full reimbursement of funds, with the exception of three wallets that transferred VIRTUAL directly to PlayGameAI [6].

Virtuals Protocol serves as a decentralized platform for people to create, monetize, and co-own tokenized AI agents. Fueled by VIRTUAL, the ecosystem facilitates transactions and governance decisions. The token first appeared at the tail end of 2023 and mounted an all-time high of over $4.50 in early 2024, catapulting its market capitalization to a staggering $4.5 billion [7].

Price Projections

Several analysts are now trying to predict where the price of VIRTUAL might be headed. For one, 0xCB set $1.50 as a "breakout confirmation" and $3 as the "last barrier before retesting the ATH of $5" [8]. According to the analyst, if Bitcoin maintains its current momentum above $100K, a new ATH could be just around the corner, unless unforeseen circumstances (like war) intervene.

Degen Ape Trader shared a similar sentiment, expects "much higher" levels for VIRTUAL in the long term, targeting a rise to $2 after it breaks the $1.30 barrier [8].

It's worth noting that Bitcoin is currently trading at roughly $95,000. Its last visit to the $100,000 zone was back in February 2024.

For a more accurate, data-driven perspective on Virtuals Protocol's price prospects, take a look at the following predictions and price targets [9]:- Coincodex expects the price to surge 228.76% and reach $4.80 by the end of May 2025, driven by bullish sentiment and a healthy Fear & Greed Index.- Coinspeaker and CoinStats suggest a price cap of up to $2.4075 in 2025, with average prices hovering around $1.605.- DigitalCoinPrice foresees a potential high of $1.23 by the end of 2025, with a possible low of $0.5.

While these predictions are exciting, it's crucial to remember that the cryptocurrency market remains inherently volatile, subject to wild swings based on market conditions and investor sentiment. Invest accordingly, and stay informed!

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1. The surge in Virtuals Protocol (VIRTUAL) has been exceptional, breaching expectations after being listed on Binance US, with prices now targeting between $2 and $5.
2. Despite a relatively quiet day in the cryptocurrency landscape, VIRTUAL bucked the trend, rocketing above $1.50 and flirting with a $1 billion market capitalization.
3. Binance.US, a major exchange, played a significant role in VIRTUAL's ascension by enabling deposits and introducing the VIRTUAL/USDT trading pair.
4. A potential boost in the price of VIRTUAL could be on the horizon, with analysts like 0xCB and Degen Ape Trader anticipating prices reaching $3 and $2, respectively, if Bitcoin maintains its momentum above $100K.
5. While predictions indicate a positive outlook for VIRTUAL, it's essential to remember that the cryptocurrency market can be volatile, subject to changes in market conditions and investor sentiment.
6. For those interested in exploring more crypto opportunities, consider checking out Binance's limited-time welcome offer for our website readers, offering $600 free, or take advantage of Bybit's offer to register and open a $500 free position on any coin.

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