Virtuals Protocol, an AI agent platform enabling the creation and monetization of AI-driven digital entities on the blockchain, has seen its each day buying and selling income plummet by 96.8% regardless of increasing from Coinbase’s Ethereum layer-2 Base to Solana.
According to Dune Analytics information, the protocol recorded its highest each day income of over $1 million on Jan. 2, however that determine had dropped to lower than $35,000 as of Feb. 27.
Income from the Base digital app has been notably weak, with earnings remaining beneath $1,000 for 10 consecutive days, declining from its each day peak of $859,000 on Oct. 27, 2024. In whole, Virtuals generated $28,492 on the Base community and $6,300 on Solana on Feb. 27.
Virtuals’ poor income efficiency on Feb. 27 is an enchancment from the day earlier than, which was simply over $30,000. Supply: Dune Analytics
The variety of new AI brokers created on the platform has remained beneath 10 per day for the previous 10 days.
Virtuals has had lower than 10 brokers created since Feb. 18. Supply: Dune Analytics
Associated: New agent launches on Virtuals plummet amid AI token drawdown
Virtuals disappoints since transferring to Solana
Initially launched on Base, Virtuals gained consideration for its novel AI brokers able to managing their very own cryptocurrency wallets and even tipping social media customers to drive engagement.
On Jan. 25, the mission introduced its expansion into the red-hot Solana ecosystem. Nevertheless, Solana’s status has suffered in latest weeks following a wave of failed presidential memecoins, which have underscored the rampant scamming points on the community.
There are presently about 170,000 distinctive wallets holding Virtuals brokers’ tokens on Base, in comparison with roughly 11,000 on Solana, based on Dune. Pockets exercise has considerably declined throughout each networks, as solely 7,642 wallets traded a minimum of one token on Feb. 27.
Associated: Solana’s token minting frenzy loses steam as memecoins get torched
VIRTUAL token struggles amid market downturn
Digital Protocol’s native token has fallen greater than 14% prior to now 24 hours, based on CoinMarketCap data. The drop comes amid a broader crypto market downturn, with Bitcoin shedding 20% of its worth over the previous week as a result of heightened international commerce tensions.
VIRTUALS bleeds as international monetary markets endure losses. Supply: CoinMarketCap
Regardless of the broader market correction, Virtuals Protocol seems to be shedding traction amongst prime cryptocurrencies. When the protocol first introduced its transfer to Solana, it ranked 68th by market capitalization. As of the time of publishing, it had slipped to the 92nd spot.
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