Virtuals Protocol, an AI agent platform operating on Solana, has seen its daily trading revenue decline from a peak of $1.02 million in early January to $34,792 by late February, according to the protocol’s official Dune dashboard.
Meanwhile, the protocol’s native VIRTUAL token has gone through a dramatic 35.2% price decline over the past week according to CoinGecko, significantly underperforming the broader crypto market.
VIRTUAL is now trading 88.8% below its all-time high of $5.07, continuing a prolonged downtrend since reaching its peak in early January 2025.
“AI agent platforms have been in a downtrend recently due to thin liquidity stemming from macroeconomic pressures, unproven utility, oversupply of tokens, and a cooling TradFi AI sector,” Dominick John, an analyst at crypto and venture investment firm Kronos Research, told Decrypt.
The AI sector is “grappling with reduced market depth due to broader economic conditions,” John said, pointing to how the trend signals “traditional finance’s waning AI momentum” across deeper structural deficits.
In a tweet, Blockworks Research analyst Dan Smith noted that the platform was “smart to diversify revenue out of its own token.”
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