Upbit Lists VIRTUAL, Sparking 28% Price Surge

Upbit, South Korea's leading cryptocurrency exchange, has announced the listing of VIRTUAL's KRW, BTC, and USDT trading pairs. This move has sparked significant interest in the VIRTUAL token, with a notable surge in its price following the news.

The VIRTUAL token, native to the AI agent generator platform Virtuals Protocol, climbed during European trading hours after Upbit's listing announcement. The price surged by 28% to $2.61, nearing the downtrend line that characterized the sell-off from its Jan. 2 record high of around $5.25. This price jump can be attributed to the exposure the token gained to altcoin-savvy Korean traders through the newly listed markets on Upbit.

Earlier this month, Virtuals Protocol announced a buyback and destruction program for ecosystem agent tokens, using the almost 13 million VIRTUAL tokens accumulated from post-bonding trading income. The protocol, a Base native, has recently expanded to Solana via LayerZero, launching a Meteora pool to enhance trading and engagement. Additionally, the protocol announced the creation of a SOL reserve through the conversion of 1% of trading fees to SOL.

The listing on Upbit is expected to further boost the visibility and liquidity of the VIRTUAL token, potentially attracting more investors and traders to the Virtuals Protocol ecosystem. As the token gains traction in the South Korean market, it may continue to experience price volatility and increased trading activity.