VIRTUAL rallied as much as 38% today following renewed investor interest after the Virtuals’ team rolled out a big Genesis update aimed at boosting transparency across the ecosystem.
According to data from crypto.news, Virtuals Protocol (VIRTUAL) surged to an intraday high of $1.67 on the morning of May 1, extending its gains to nearly 300% from last month’s low.
As of press time, its market cap has crossed the $1 billion mark, with daily trading volume reaching nearly $600 million, a 60% increase from the previous day.
Today’s surge adds fuel to a rally that kicked off back on April 25, when VIRTUAL finally broke out of the $0.40–$0.80 range, where it had been consolidating since mid-March. Since pushing past that consolidation zone, the price has more than doubled, gaining over 100%.
The breakout follows a multi-month downtrend that began after the token hit an all-time high of $5.07 on Jan. 2.
The main driver behind today’s momentum was the recent update to Genesis Launch, a new token distribution mechanism that helps bring users, devs, and AI agents into the VIRTUALS ecosystem.
With the latest update, developers can now choose to auto-lock their token allocations and set clear, transparent vesting schedules, all of which are visible to users.
Per a company announcement, this makes it easier for users to assess which projects carry less risk and are worth backing, giving the whole ecosystem a stronger sense of credibility.
Another key catalyst driving VIRUAL’s gains was the recent listing of the token on crypto Binance.US. Listings on major exchanges typically tend to drive renewed investor interest and liquidity, drawing in both retail and institutional buyers.
The ongoing surge was accompanied by an uptick in futures open interest, which just hit a three-month high of $186 million, way up from $39 million this time last month per CoinGlass data. Rising open interest often signals growing demand and speculative activity from traders.
Meanwhile, its social sentiment has remained positive for the past four days, and the number of holders with 10,000 to 1 million VIRTUAL tokens has increased over the last two days, indicating more demand among mid-to-large holders.
VIRTUAL price analysis
On the daily USDT chart, VIRTUAL is currently trading inside an ascending channel pattern. A break above this channel could open the door to more upside ahead.
Also, the 20-day EMA (blue) has recently crossed above the 50-day EMA (green), forming a golden cross. That’s a strong bullish signal and usually suggests a bigger uptrend is already underway.
Adding to the momentum, the SuperTrend indicator has flipped green, reinforcing the positive outlook.
Based on this setup, the next key target for VIRTUAL is the $2 psychological resistance level, about 48% higher than where it currently sits — a level last seen at the start of April.
Traders on X also appeared optimistic about VIRTUAL’s next leg up and have set even higher targets.
According to pseudonymous analyst CryptoBull_360, VIRTUAL looks poised for a major breakout above its horizontal resistance zone on the 4-hour/USDT chart, with strong daily closes above a key trendline.
If momentum holds, bulls could be eyeing an 80–100% upside move from current levels, the analyst noted.
Others, like Bitboy, also believe VIRTUAL could see more upside if it manages to hold above $1.60.
At press time, VIRTUAL was exchanging hands at $1.63 per token.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
