- Virtual Protocol has unveiled a buyback program to boost its ecosystem agents
- VIRTUAL’s mindshare rose 25% gains on the price charts
Launch pad for AI agents Virtual protocol has revealed plans to use over 13 million VIRTUAL (worth $48 million) to buy and burn its ecosystem agent tokens. Doing this could boost the deflation program VIRTUAL and its agent tokens.
The company’s statement revealed that the roasting program will last 30 days.
“We have generated $12,990,427.85 in post-bond trading revenue since October 16, 2024. This goes towards a buyback-and-burn of the respective agent tokens over a 30-day TWAP.”
VIRTUAL responds to buyback program
According to the buyback programsome of the top agents that would benefit from this are GAME, CONVO, AIXBT, SEKOIA and MISATO.
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As expected, these agent tokens increased immediately after the update. In fact, AIXBT, a crypto influencer from X (formerly Twitter), and GAME, a native token for a gaming-focused platform, are up almost 40%. VIRTUAL also rose 25% and retested the $4.0 level.
It is striking, however, that the buyback program was received with mixed feelings.
One camp saw it as a positive for VIRTUAL and the ecosystem, as it renews its flywheel effect and attracts more agent builders. This in turn would increase the demand for VIRTUAL as it is the most important currency in the ecosystem.
But since the fees collected (VIRTUALs) were used, some had reservations about the altcoin in the short term. One user declared,
“I understand this as a long-term bull case, but it seems like their earnings now need to be discounted due to platform adoption. It is an interesting move, we will certainly see how the market reacts in the coming days and weeks.”
In mindshare, AIXBT dominated with 13%, followed by VIRTUAL at 6.4%. This highlighted that the agent’s social influencer had more social traction and market interest than its original launch pad token.
On the price charts, VIRTUAL bounced off the golden Fibonacci retracement level of 61.8%.
Should the $4 level be cleared, the token could regain its all-time high of $5. The RSI on the daily chart rose above 50, indicating renewed buying pressure. If demand continues, VIRTUAL could move higher.
Source: VIRTUAL/USDT, TradingView
